Saxo Bank will No Longer Publish Monthly Trading Volume Reports

Saxo Bank has announced it will no longer publish its monthly client trading volume data, a practice it started in 2014 to enhance transparency. The bank has also removed all historical trading volume information from its Investor Relations website.

When Saxo Bank began reporting this data a decade ago, it was the first non-public bank or brokerage to do so, signaling a commitment to financial transparency. However, the bank now says it will focus on providing updates through its half-year and full-year financial reports instead. A Saxo Bank spokesperson stated, “While we understand the interest in these figures, we will continue to provide insights and updates on trends and data in our half-year and full-year financial reports, which are publicly available. This approach ensures that we maintain high standards of responsibility and transparency while focusing on providing meaningful and comprehensive information to our stakeholders.”

Saxo Bank will No Longer Publish Monthly Trading Volume Reports

The decision comes as Saxo Bank seeks to enhance its liquidity and shareholder value by exploring options such as an IPO or sale. The bank has hired Goldman Sachs to assist with this process as it looks to provide liquidity to its major shareholders—China’s Geely Group and Finland’s Mandatum Group—who are aiming to exit their investments. Notably, an earlier attempt at an IPO via a SPAC merger in 2022 was eventually abandoned.

Recent reports indicate that Saxo Bank’s trading volumes have been on a downward trend. After a 20% drop in May, trading volumes continued to decline in June 2024, falling to $371.6 billion for the month, a 4% decrease from May. The bank’s core FX trading volumes also hit a multi-year low, totaling $78.1 billion in June. Saxo Bank recorded its first semi-annual loss in several years during the second half of 2023, with no growth on its top line, and it has not yet reported results for the first half of 2024.

Company Overview

Saxo Bank stands out as a premier multi-asset broker, offering exceptional research capabilities and an exceptional trading platform, along with an impressive array of over 70,000 tradable instruments, which include spot forex, FX options, NDFs, CFDs, stocks, stock options, exchange-traded funds, ETNs, futures, and 33,000 bonds. For engaged traders, Saxo Bank offers a comprehensive and immersive trading journey, boasting an extensive toolkit, research resources, and premium features.

Discover more in our Complete Review.