Saxo Sees 19% MoM rise in Equities Volume in October 2021

Fazzaco learned that Saxo Bank, one of the largest online investment banks in Europe, has posted its trading volumes for October 2021.

Saxo's Equities volume stood at $173.4 billion in October, which was up 19 percent compared to $145.7 billion in September 2021. However, the company's FX volume dropped by 8 percent to $113 billion in October, compared to $123.2 billion last month. 

The FX average daily volume (ADV) stood at $5.1 billion in October, compared to $5.4 billion in September 2021. In October 2021, Saxo Bank's ADV related to Equities came in at $7.9 billion, which was up by 25 percent compared to $6.3 billion last month. Fixed Income ADV virtually unchanged compared to the previous month.

In terms of commodities, the overall monthly volume rose to $32.3 billion in October from $31.5 billion in September. However, the ADV related to commodities stood at $1.5 billion in October 2021, compared to $1.4 billion in September 2021.

Saxo Bank recently announced that it has named Brit Kannegaard Johannessen as its new Chief Human Resources Officer (CHRO). Additionally, the company also announced that its selection of crypto products has exceeded 2.5 billion USD (16 billion DKK) in turnover​ for the year, leading the Danish online broker to increase position limits and add new crypto products in response to significant client demand.