Brokers January 14, 2018 —by LeapRate Workers  0

Following a strong November which noticed its most exercise of the 12 months, Copenhagen based mostly multi asset dealer Saxo Financial institution has reported that it ended 2017 with a considerably sluggish month of December.

December volumes totaled $289 billion at Saxo Financial institution, down 26% from November’s $388 billion. FX volumes comprised 68% of the whole in December at $197.eight billion – the primary time FX pair buying and selling dropped under $200 billion at Saxo Financial institution since August 2016.

Saxo Bank volumes Dec2017

December volumes, in fact, are usually not normally a great gauge of normal exercise at Retail FX brokers, with the final two weeks of the month usually sluggish main by the Christmas and New Years holidays.

Nonetheless, Saxo Financial institution reported decreases in December volumes throughout all of its main traded merchandise. FX buying and selling volumes have been down 29%, Equities buying and selling was off 20% to $55 billion, Commodities down eight% to $28 billion, and Mounted Revenue down 25% to $9 billion.

Wanting again on the 12 months, Saxo Financial institution had a really eventful 2017. The corporate made a number of senior administration hires, including longtime ETX Capital CEO Andrew Edwards as the brand new CEO of its UK operation and Robert Hjorth to the newly established place as Head of Technique. Saxo Financial institution additionally launched a brand new quant and risk tools unit, with exterior hires from Danske Markets. The largest transfer of the 12 months noticed China’s Geely Group and Finland’s Sampo take control of Saxo Bank, shopping for out longtime traders TPG Capital and SinarMas.