Saxo Bank Reports Another Drop in FX Trading Volume in November 2021

Copenhagen's Saxo Bank has published its group financial results for the month of November, showing a decline in its trading volumes among its most units.

According to the latest figures, the total trading volume for the month came in $292.2 billion, decreasing 10% on a month-to-month basis from October's $325.8 billion. Additionally, the total average daily volume in November was $13.3 billion, which was lower than October's $14.8 billion.

Saxo Bank reported that the average daily volume for forex trading in November was $4.5 billion and total FX trading volume for the month came in at $99.2 billion. That was a month-over-month decline of more than 12% compared to last month's $113 billion.

Moreover, commodities and equities markets also saw a decline in demand, bringing a total of $30.1 billion and $156.2 billion in monthly volumes, respectively. In addition, fixed income market demand decreased from the previous month's $7 billion to $6.8 billion.

Last month,Saxo Bank Switzerland has named Claudius Sutter as a new member of its Board of Directors​, effective November 2021. Claudius was most recently Board Member of MovementSciences Inc. He is also the Founder of C. Sutter Consulting, which began in March 2020.