Copenhagen-based SAXO Bank which was recently acquired by China’s Geely Group has posted trading volume numbers for November month marking new lows. The overall trading volume is 2.5 times lower than what it received in the record-breaking month of February 2018.
The weak performance is majorly due to the abysmal volatility conditions across the major Fx trading venues that pushed the figure to a new low. The total trading volume during November amounted to $264.9 billion, 13 per cent lower on a month-on-month basis and 32 per cent lower on a yearly basis. The FX business posted a trading volume of $170.4 billion in November, which 9.2 per cent lower on a month-on-month basis and by over 38 per cent on a yearly basis. The average daily volumes totaled $12 billion for all asset and $7.7 billion for FX segment.
In the equity segment, it marked a decline of 20 per cent month-on-month to $67.1 billion in November and on yearly basis, the figure is almost flat. Throughout November, the stock indices witnessed extreme volatility which didn’t help in volumes front.
In the commodity segment, especially the oil & natural gas, the monthly decline was about 7 per cent to $20.9 billion and a 30 per cent decline compared to the last year. The Fixed income trading in November failed to gain momentum and trading activity dropped by almost 30 per cent compared to October and 50 per cent compared to November 2017.
FOREX.COM Volumes Down 10% on a Monthly Basis
After reporting record low volumes in September, the October month for the brokerage was a pretty relief as volumes rebounded by almost 55 per cent month-on-month to $231 billion.
The November month though has been pretty slow for the brokerage with a 10 per cent drop in volumes to $207 billion compared to October 2018 and on a yearly basis, the figure is almost flat with 0.1 per cent increase.
The number of futures contract dropped by 19.7 per cent month-on-month to 654,077 contracts, but on a yearly basis, the figure is 12.3 per cent higher.