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Saxo Bank, a Danish bank specialized in providing online trading services, reported on Wednesday a trading volume of $376.7 billion in March 2017, posting a growth of 19.2% on the month and 24.7% over the year. The daily average volume last month was $16.4 billion, which was also up by 3.8% month-on-month and 25.2% on an annual basis.
The bank saw all its businesses accelerate in March. Forex trading volume stood at $275.2 billion, which represents a double-digit increase on a monthly and annual basis of 16.7% and 26.4%, respectively. This segment made up the largest trading volume share of 73% (down from 74.6% in February).
Following are the forex bank’s monthly trading metrics by segment for January-March 2017:
Saxo Bank, set up in Copenhagen in 1992, offers about 30,000 trading instruments, including forex, binary options, contracts for difference (CFDs), stocks, bonds, and futures. The company holds a banking license from Denmark’s Financial Supervisory Authority (FSA). The group operates through its subsidiary companies across Europe, Asia and the Middle East, Australia, South America, and South Africa.