The demand for foreign exchange devices on Saxo Financial institution’s platform has dropped considerably, because the month-to-month quantity for March got here in at $85.1 billion. The determine has been the bottom since 2016 the Danish firm began publishing its quantity metrics.
The newest FX month-to-month figures dropped by 7.9 % from the amount in February, whereas the year-over-year decline was a major 45.3 %. The demand for FX on Saxo has been in decline across the first three months of 2024, because the month-to-month quantity for January got here in at $106.7 billion and February at $92.4 billion.
The newest decline within the FX month-to-month quantity additionally pushed the every day common to $4.1 billion in comparison with the earlier two months’ $4.9 billion and $4.4 billion, respectively.
Equities Demand Defies FX
Whereas the demand for foreign exchange slowed down, equities picked up final month. In line with the official numbers, the month-to-month quantity of equities devices got here in at $239.2 billion, a rise of 10 % from the earlier month. Nevertheless, equities quantity remained weak year-over-year by about 8 %.
The newest month-to-month equities quantity was the best since final October when the determine was at $297.5 billion.
Headquartered in Denmark, Saxo Financial institution was based as a brokerage in 1992, and it was rebranded to its present title in 2001 after acquiring a banking license. Aside from foreign exchange and equities, the corporate additionally affords buying and selling providers with commodities and fixed-income devices.
With regards to commodities, the month-to-month quantity for March jumped to $44.1 billion from the earlier month’s $39 billion. Mounted earnings, nonetheless, declined to $9.3 billion from $9.5 billion. Saxo additionally affords cryptocurrency CFDs in sure Asia-Pacific markets; nonetheless, it doesn’t disclose the metrics of these devices.
As Finance Magnates reported, the corporate ended 2023 with a income of DKK 4.48 billion, with an 8.1 % decline in web earnings. In the meantime, S&P International Rankings not too long ago upgraded the corporate’s credit score scores to ‘A-’ from ‘BBB’.
The demand for foreign exchange devices on Saxo Financial institution’s platform has dropped considerably, because the month-to-month quantity for March got here in at $85.1 billion. The determine has been the bottom since 2016 the Danish firm began publishing its quantity metrics.
The newest FX month-to-month figures dropped by 7.9 % from the amount in February, whereas the year-over-year decline was a major 45.3 %. The demand for FX on Saxo has been in decline across the first three months of 2024, because the month-to-month quantity for January got here in at $106.7 billion and February at $92.4 billion.
The newest decline within the FX month-to-month quantity additionally pushed the every day common to $4.1 billion in comparison with the earlier two months’ $4.9 billion and $4.4 billion, respectively.
Equities Demand Defies FX
Whereas the demand for foreign exchange slowed down, equities picked up final month. In line with the official numbers, the month-to-month quantity of equities devices got here in at $239.2 billion, a rise of 10 % from the earlier month. Nevertheless, equities quantity remained weak year-over-year by about 8 %.
The newest month-to-month equities quantity was the best since final October when the determine was at $297.5 billion.
Headquartered in Denmark, Saxo Financial institution was based as a brokerage in 1992, and it was rebranded to its present title in 2001 after acquiring a banking license. Aside from foreign exchange and equities, the corporate additionally affords buying and selling providers with commodities and fixed-income devices.
With regards to commodities, the month-to-month quantity for March jumped to $44.1 billion from the earlier month’s $39 billion. Mounted earnings, nonetheless, declined to $9.3 billion from $9.5 billion. Saxo additionally affords cryptocurrency CFDs in sure Asia-Pacific markets; nonetheless, it doesn’t disclose the metrics of these devices.
As Finance Magnates reported, the corporate ended 2023 with a income of DKK 4.48 billion, with an 8.1 % decline in web earnings. In the meantime, S&P International Rankings not too long ago upgraded the corporate’s credit score scores to ‘A-’ from ‘BBB’.
