Retail released its financial results for May this Monday. The Danish firm continued to see comparatively mediocre trading volumes amidst a period of low volatility.
In the foreign exchange (FX) markets, the broker reported a total trading volume of $143.9 billion.
That was higher than the prior month’s total volume of $123.2 billion but lower than March where the equivalent figure was $158.6 billion.
Looking at the year as a whole, May was an average month. January and March both saw higher trading levels in the FX markets, while February and April had slightly lower trading volumes for the same markets.
Year-on-year, day to day
From a year-on-year perspective, things were comparatively worse. In May of 2018, Saxo Bank of $283.4 billion.
This May’s total trading volume of $143.9 billion meant Saxo Bank traders averaged $7.2 billion per day.
This was the second-highest that the firm has reported this year, with March’s $7.6 billion per day being the only month that was better.
Again, things look worse for the broker, not just for May but for 2019 as a whole, when we look at May 2018’s average daily trading volume.
The broker reported that its traders were putting $12.3 billion a day into the FX markets in May of last year, substantially higher than any month so far in 2019.
All is well in equities
Things were better for Saxo Bank in the equities markets. The broker reported a total trading volume of $76.6 billion in its equities markets last month.
That was more than at any other point thus far this year, with the next highest total equities trading volume of $50.7 billion coming in March.
Similarly positive were the broker’s commodities trading volumes. Saxo Bank saw a total volume of $32.5 billion in commodities trading last month, the highest the broker has seen all year.
Fixed income volumes were akin to the broker’s performance in the FX markets. With a trading total volume of $5.7 billion and a daily average of $300 million, the broker’s commodities trading volumes in May were better than in February and April but lower than in January and March.
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