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Saxo Bank volumes increase 11% despite lackluster FX activity
Saxo Bank’s clients traded worth $4.9 billion daily in August, the lowest figure in twelve months and was also down nine percent month-over-month compared to $5.4 billion in July. Saxo’s FX ADV for last month was virtually unchanged year-over-year relative to $4.8 billion in August 2022. The Danish multi-asset brokerage reported its total monthly FX volume for August 2023 at $112.3 billion, which is down from $112.9 billion a month ago. However, this figure corresponds to a yearly increase of three percent compared to $109 billion in 2022. In terms of its commodities business, Saxo Bank performance was strong in ... (full story)