NEWS
Saxo Bank, the Copenhagen-based online trading and investment specialist, has released its trading data for May 2024, revealing a total monthly trading volume of $388.1 billion.
This represents a 19.6% decline from the $482.7 billion recorded in the previous month and a 4.6% drop from $407.0 billion in the same month last year. The average daily volume (ADV) was $16.9 billion, down 22.8% from $21.9 billion in April 2024 and down 4.5% from $17.7 billion in May 2023.
In particular, the FX trading volume for May stood at $79.6 billion, a 19.8% decrease from $99.3 billion in the prior month and a significant 39.0% drop from $130.5 billion in May of the previous year. The FX ADV fell 22.2% MoM, from $4.5 billion to $3.5 billion, and dropped 38.6% compared to $5.7 billion in May 2023.
Equities trading volume reached $241.5 billion, down 20.5% from $303.7 billion in April but up 5.8% from $228.2 billion in May 2023. The equities ADV was $10.5 billion, a 23.9% decrease from $13.8 billion in the previous month and a 6.1% increase from $9.9 billion in May of last year.
Commodities trading volume for the month totaled $56.8 billion, a 19.7% decline from $70.7 billion in April 2024 but a 39.6% increase from $40.7 billion in May 2023. The commodities ADV was $2.5 billion, down 21.9% from $3.2 billion in April and up 38.9% from $1.8 billion in May 2023.
Fixed income trading volume for May 2024 was $10.3 billion, marking a 14.4% rise from $9.0 billion in April 2024 and a 35.5% jump from $7.6 billion in May 2023. The fixed income ADV remained stable at $0.4 billion compared to the previous month, reflecting a 33.3% increase from $0.3 billion YoY.
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