Saxo Bank Sees Overall Decline in Trading Volumes in June

Copenhagen's Saxo Bank has published its Group financial results for the month of June, showing a decline in its trading volumes among its most units. But the foreign exchange business sees a marginal monthly recovery.

According to the official release, the total trading volume for the month came in $282.8 billion, decreasing 5% on a month-to-month basis from May's $298.6 billion. Additionally, the total average daily volume in June was $12.9 billion, which was lower than May's $14.2 billion.

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Saxo Bank reported that the average daily volume for forex trading in June was $4.8 billion and total FX trading volume for the month came in at $106.1 billion, up slightly from May's $104.3 billion.

Though higher than May, total forex trading volume in June remained one of the lowest the platform has ever reported. After touching significantly higher figures of $170.5 billion in March, Saxo continuously witnessed a slow down in FX trading.

Apart from forex, Equities trading was off 11% MoM to $126.7 billion, Commodities were down 2% to $42.6 billion, and Fixed Income fell 18% to $7.4 billion.

As Fazzaco reported earlier, Saxo Bank saw its lowest FX trading volumes in (at least) five years in May, during which the daily average trading volume with forex pairs was $5 billion, 10.7 percent down month-over-month and 34.2 percent lower year-over-year.