Saxo Bank Sees FX Demand Recovery in May, Trading Volume Jumps 18.7%

Copenhagen's Saxo Bank has published its group financial results for the month of May in 2022, showing an overall increase in its trading volumes.

According to the latest figures, the total trading volume for the month came in $42.6 billion, increasing 23% on a month-to-month basis from April's $342.6 billion. Additionally, the total average daily volume in May was $19.2 billion, which was higher than April's $15.6 billion.

Saxo Bank reported that the average daily volume for forex trading in May was $6.8 billion and total FX trading volume for the month came in at $149.6 billion. That was a month-over-month jump of more than 18.7% compared to last month's $126.2 billion.

Moreover, commodities, fixed income and equities markets also saw an increase in demand, bringing a total of $41.2 billion, $10.7 billion and $220.1 billion in monthly volumes, respectively.

Last week, Saxo Bank has appointed Joanna Moberly as the new Head of Legal and Company Secretary for its UK subsidiary, Saxo Markets UK. She will be based in London and report to Charles White-Thomson, CEO of Saxo Markets UK.