Saxo Bank Reports Overall Trading Volume Increase Across Markets for October 2023

Saxo Bank, the Copenhagen-based online trading and investment specialist, has released its client trading data for October 2023, reporting the total trading volume for the month of $462.0 billion, 5.4% higher than $438.3 billion in the prior month and 6.9% higher than $432.2 billion in the same period of last year. Average daily volume (ADV) during the month came in at $21.0 billion, up 0.5% compared to $20.9 billion in September this year and up 1.9% compared to $20.6 billion in October 2022.

More specifically, the trading volume of FX for the month totaled $112.5 billion, increasing 6.0% compared to $106.1 billion in the previous month, breaking a four-month downward trend, but down 12.0% compared to $127.9 billion last October. ADV of FX fell by 16.4% from $6.1 billion to $5.1 billion on a year-on-year basis, unchanged from the prior month.

Equities traded for the month amounted to $297.5 billion, up 2.9% from $289.1 billion in September 2023 and rose by 16.0% compared to $256.5 billion in October of last year. ADV of equities fell by 2.2% from $13.8 billion to $13.5 billion on a month-on-month basis, an increase of 10.7% compared to $12.2 billion in the year ago month.

Trading volume of commodities totaled $42.4 billion, increasing by 15.5% compared to $36.7 billion in the prior month and increasing by 16.5% compared to $36.4 billion in October 2022. ADV of commodities was $1.9 billion, 11.8% higher than $1.7 billion both in this September and last October.

Fixed income traded for October 2023 reached $9.7 billion, up 51.6% compared to $6.4 billion in September 2023 but down 14.9% compared to $11.4 billion in the same month of 2022. ADV of fixed income was $0.4 billion, 33.3% higher than $0.3 billion in the prior month and 20.0% lower than $0.5 billion in October 2022.