As monthly trading volumes continue to arrive for exchanges, brokers and trading platforms, Saxo, a multi-asset brokerage has joined the list of companies reporting that its equities trading volumes and forex volumes are strong.
The company reported that in March, it saw a daily trading average of $22.6 billion and a total monthly trading volume $496.8 billion. This was driven as a result of the market volatility from the COVID-19 pandemic and in comparison to February, it resulted in a 57.0% increase.
When comparing March’s trading volumes against the same period in 2019, this year saw a total trading volume of $251.9 billion, an increase of 97.2% year on year, it was the strongest month Saxo has had since March 2018.
Saxo Bank reports highest FX volumes in years
When looking closely at the total monthly forex exchange volume, Saxo saw a solid increase that came in at $248.6 billion. That resulted in its volumes increases by 72.8% based on month-on-month averages and was the best the firm has reported since June 2018.
The equities trading volume in March also saw a substantial increase of $182.6 billion whereas February results were $119.9 billion. This translates into a 52.3% growth in equity trading volume or a significant jump of 213.7%. Additionally, the company reported is fixed-income trading saw March doing well with its volume reported at $22.6 billion in comparison to February. The results translated into a 65% increase and a 143% yearly increase. The same was reported for commodity trading volumes with those reported at $43.1 billion for the month of March or an monthly increase of 15.5% and a 74.5% yearly increase.