Saxo Bank News

China's Geely and Finland's Sampo Take Control of Saxo Bank

2 Oct 2017, Copenhagen, Denmark - LeapRate - Saxo Bank has a new majority owner. The Copenhagen based multi asset online broker has announced that Finland's Sampo Oyj (HEL:SAMPO) is becoming a new shareholder in Saxo Bank, joining China's Geely Group which will now become Saxo Bank's largest (and controlling) shareholder. Geely and Sampo will jointly buy out the other two main outside shareholders of Saxo Bank, US west coast investor TPG Capital (29.

Saxo Leaves UK CFD and FX Association

22 Jun 2017, London, UK - Saxo Bank Press Release - Today, Saxo Capital Markets UK Limited, the UK subsidiary of Saxo Bank A/S, announces the decision to withdraw from the UK CFD and FX Association, a margin trading industry group. The decision follows thorough consideration of consumer protection, including the recent proposals in the Financial Conduct Authority's (FCA) Consultation Paper (16/40). The Saxo Bank group strongly supports the . . .

Saxo Bank Signs up to the FX Global Code of Conduct

15 Jun 2017, Hellerup, Denmark - Saxo Bank Press Release - Saxo Bank welcomes the initiative as crucial to strengthen the integrity of the FX market and bolsters its commitment with the introduction of enhanced disclosure. Saxo Bank, the online trading and investment specialist, signs up to the FX Global Code of Conduct ("the Code"), which is aimed at improving industry standards and promoting best practice among FX market participants. The . . .

Chinese Conglomerate Buys 30% Stake in Saxo Bank

5 May 2017, Copenhagen, Denmark - LeapRate - Copenhagen based multi-asset broker Saxo Bank has announced that co-founder Lars Seier Christensen will be fully exiting from his ownership interest in the company, selling his 25. 71% stake to Chinese conglomerate Geely Group. Certain minority shareholders are expected to exercise tag-along rights as part of the offer from Geely, which is expected to own about 30% of Saxo on completion.

Saxo Bank Cuts Staff to Cut Costs

26 Jan 2017, Hellerup, Denmark - SMN Weekly - Saxo Bank, a Danish bank specialized in providing online trading services, is laying off 50 employees, or some 3% of its global workforce, finance media LeapRate reported on Thursday. With the move, the company aims to allow future growth by cutting fixed costs and increasing profitability. "To ensure the health and profitability of the Group and to be able to continue to invest in the foundation for . . .

Saxo Bank Expands in China with Phoenix Finance Partnership

6 Dec 2016, China - LeapRate - Global broker Saxo Bank and financial technology firm Phoenix Finance have just signed a MOU to form a white label partnership. The integration process will start in Q1 2017. The partnership will enable Phoenix Finance to integrate Saxo's investment and trading capabilities, directly into their own applications and systems and enhance its offering to clients. Saxo Bank's multi-asset trading technology offers access . . .

Saxo Bank Continues to be Recognised for Unrivalled FX Offering

29 Nov 2016, Hellerup, Denmark - PRNewsWire - Saxo Bank awarded multiple accolades by FX Week, Finance Magnates, HFM Asia Hedge Fund Services and Global Finance. Saxo Bank, the online multi-asset trading and investment specialist, today announces that it has won Best Prime of Prime House in FX Week's Best Banks Awards and Best Forex Broker and Best Prime of Prime/Retail Liquidity Provider in the Finance Magnates Awards. Recognized by . . .

Saxo Bank Wins Swiss Franc Dispute Case in Danish Commercial Court

25 Nov 2016, Copenhagen, Denmark - Finance Magnates - The ruling by the Danish court sets an EU-wide precedent on Saxo Bank's good will handling of the SNB crisis. Danish multi-asset brokerage Saxo Bank has been cleared by the Danish Maritime and Commercial High Court in a case against the company filed by a client who lost money on the 15th of January 2015. On that day the Swiss National Bank has unexpectedly removed the currency floor under the . . .

EFG HERMES and Saxo Bank Form Strategic Partnership to Launch Multi-Asset Trading

16 Nov 2016, Hellerup, Denmark - Saxo Bank - EFG Hermes, a leading financial services corporation in the Arab World, and Saxo Bank, the online multi-asset trading and investment specialist announced today the signing of a strategic partnership agreement, which will enable full integration of Saxo Bank's SaxoTraderGO platform with EFG Hermes' new online trading platform, EFG Hermes One. The new platform will grant clients one-click access to . . .

Denmark's Saxo Bank to Employ New Order Execution Model for Forex

27 Sep 2016, Hellerup, Denmark - SMN Weekly - Saxo Bank, a Danish bank specialized in providing online trading services, said on Tuesday it has tuned to a new order-driven execution model that aligns forex instruments, including forex spot, forex forwards and contracts for difference (CFDs) on indices and commodities. The method is currently in testing and is scheduled to be launched in November this year. Forex options are out of scope and will . . .

Saxo Bank to Close Offices in Russia, Poland and Greece

2 Jun 2016, Hellerup, Denmark - SMN Weekly - The Danish investment services and retail forex broker Saxo Bank is planning to close its offices in Russia, Poland and Greece, reports the Russian-language site Forex Magnates, which got confirmation from Saxo Bank's PR department. "Saxo Bank changes it geographical presence in Russia, Greece and Poland," the broker's PR office told the site. "Many of our clients are already being serviced by our . . .

Saxo Bank Announces Landmark Partnership with Lufax

24 May 2016, Hellerup, Denmark - Saxo Bank Press Release - Saxo gathers momentum in Greater China with second partnership of the year. Saxo Bank, the online multi-asset trading and investment specialist, has today announced a new white label partnership with Lufax, China's largest internet finance company. The partnership, expected to launch within the next three months, will see Lufax leverage the trading technology that underpins the . . .

Saxo Bank Boosts Greater China Opening and Announces Extensive Strategic Fintech Partnership

19 Apr 2016, Hellerup, Denmark - Saxo Bank Press Release - Saxo Bank announced today a tri-party agreement between Saxo Bank, Wallstreet CN and LeanWork which will significantly bolster Saxo Bank's presence in Greater China following its launch in the Shanghai Free-Trade Zone in September 2015. The users of Wallstreet CN, one of the most popular financial content providers in Greater China, will be able to access global capital . . .

Fidelity Asia Bank (Fab) and Saxo Bank Announce New White Label Partnership

11 Apr 2016, Hellerup, Denmark - Saxo Bank Press Release - Fidelity Asia Bank (Fab), a well-consolidated and fast growing off-shore subsidiary of Fidelity Bank Ghana and Saxo Bank, the online multi-asset trading and investment specialist, today announce a white label partnership. Through this partnership, Fab is leveraging on Saxo's sophisticated trading platform to launch FabTraderGo, a multi-asset trading platform, which will offer . . .

Saxo Announces New Introducing Broker Partnership in Malta with Bank of Valletta

24 Feb 2016, Valletta, Malta - Saxo Bank Press Release - Partnership highlights ongoing momentum in Introducing broker business. Saxo Bank, the online multi-asset trading and investment specialist, announces today a new co-Branded Introducing Broker (IB) partnership with Bank of Valletta, the largest commercial bank in Malta. The partnership will see Bank of Valletta use the trading technology that underpins the award-winning . . .

Saxo Wins Best Forex Broker at Finance Magnates Awards

16 Nov 2015, London, UK - Saxo Bank Press Release - Award acknowledges SaxoTraderGo success. Saxo Bank, the online multi-asset trading and investment specialist, today announced that it has been voted Best Forex Broker 2015 at the annual Finance Magnates Awards. The event, held in the City of London, was attended by over 1,500 of the industry's leading professionals and executives, representing nearly 500 companies across the forex, . . .

Saxo Bank Adds Four New CNH Crosses to Trading Instruments Menu

13 Oct 2015, Hellerup, Denmark - LeapRate - Denmark-based multi-asset trading expert Saxo Bank is expanding the lineup of spot FX trading instruments available to its clients. The company has responded to the current interest in trading offshore Chinese Renminbi (CNH) by launching four new currency pairs with CNH. The new additions include:CAD/CNH Canadian Dollar / Chinese Renminbi;CHF/CNH Swiss Franc / Chinese Renminbi;GBP/CNH British Pound / . . .

Saxo Bank Steps up Asian Presence, Opens New Office in Shanghai

10 Sep 2015, Shanghai, China - LeapRate - Saxo Bank, the multi-asset trading and investment specialist, is expanding its presence in one of the most promising Forex markets China. The company today announced the opening of its new China office in Shanghai World Financial Centre, Lujiazui, within the Shanghai free-trade zone. Echo Zhao is at the helm of the mainland China office she will report to Adam Reynolds, CEO Asia Pacific of Saxo Bank . . .

Saxo Bank Receives Two Reprimands by Finanstilsynet (the Danish FSA) in Relation to its Handling of the CHF Incident on 15 January 2015

10 Jul 2015, Hellerup, Denmark - Saxo Bank Press Release - The Danish FSA has reviewed Saxo Bank A/S handling of the CHF incident and finds no reason to criticise the Bank except for two specific issues. The Danish FSA concludes that the method applied by Saxo Bank contributes to an equal treatment of clients in accordance with its internal procedures and the regulation on investor protection, with the exception of two reprimands which Saxo Bank acknowledges.

Saxo Bank Launches SaxoTraderGO Globally, Renounces CySEC License

16 Jun 2015, Copenhagen, Denmark - Finance Magnates - The Danish multi-asset brokerage has concluded the launch of its new platform with all retail clients of the broker gaining access. About a month and a half after Saxo Bank introduced its new trading platform in Paris, the brokerage has announced that it is about to conclude with the global rollout of SaxoTraderGO. The last country where the new solution will be introduced today is Switzerland.

Saxo Trades Lawsuits With Clients After Swiss Currency Turmoil

22 May 2015, Copenhagen, Denmark - The Edge Markets - Saxo Bank A/S, a Danish broker bank stung by losses on Switzerland's surprise revaluation of the Swiss franc, sued 12 currency-trading clients in Singapore in the latest lawsuits stemming from January's exchange-rate turmoil. The customers are liable for their losing trades, Saxo's Singapore unit said in lawsuits last month, seeking $7. 62 million in total. The clients countersued, saying . . .

FXCM and Saxo Bank Acquire Citigroup's CitiFX Pro Client Book

22 May 2015, New York, NY, USA and Hellerup, Denmark - Finance Magnates - FXCM's US and UK entities will take over clients of Citi's respective regions, while Singapore business will be transferred to Saxo Bank. Back in April, Finance Magnates reported that Citigroup was about to sell its $30 billion a month margin FX trading business, CitiFX Pro. Finance Magnates can now confirm that buyers of the client book are two international retail brokers, . . .

Cyprus Firms Lose 43m, Saxo Bank Sheds $107m

29 Jan 2015Financial Mirror - Cypriot investment firms lost 42. 5 mln euros after the Swiss National Bank decision to remove its cap on the Swiss franc's exchange rate with the euro, causing a surge in the Swiss currency. Demetra Kaloyirou, Chairman of the Cyprus Securities and Exchange Commission that regulates more than 180 investment firms and fund managers, said that 24 companies had lost an accumulated 42. 5 mln euros from their client . . .

Saxo Bank Scoops Best Use of IT in Investment Banking at Banking Technology Awards

21 Nov 2014, London, UK - PRNewsWire - This reinforces Saxo Bank's leadership in trading technology. Saxo Bank, the online multi-asset trading and investment specialist has reinforced its leadership in trading technology by winning Best Use of IT in Investment Banking at the Banking Technology Awards. The awards which are judged by senior members of the financial technology industry and Banking Technology's senior staff members recognise . . .

Saxo Bank Wins Best Forex Broker at Forex Magnates Awards

20 Nov 2014, London, UK - PRNewsWire - Industry vote recognises Saxo's ongoing excellence in FX. Saxo Bank, the online multi-asset trading and investment specialist, today announces that it won Best Forex Broker 2014 at the Forex Magnates Awards in London on Wednesday evening. The award, determined by an industry vote, is testament to Saxo Bank's continued . . .

Saxo Bank Announces Addition of New No Dealing Desk Accounts

17 Nov 2014, Gland, Switzerland - fx-mm - Saxo Bank, the online multi-asset trading and investment specialist, today announced that there will be new No Dealing Desk (NDD) account structures for FX, as well as a more integrated MetraTrader4 (MT4) solution providing clients with a choice of pricing structures. Saxo Bank will launch multiple new NDD style accounts designed for clients seeking Direct Market Access (DMA) by trading anonymously on best . . .

SaxoMobileTrader Named Best Mobile Trading Platform by Global Banking and Finance Awards

19 Aug 2014, Hellerup, Denmark - PRNewsWire - Saxo Bank is pleased to announce that SaxoMobileTrader, its multi-product mobile trading platform tailored specifically to sophisticated retail clients, has been named Europe's best mobile trading platform by Global Banking and Finance Review Magazine. The trend towards the democratisation of trading and ease of access . . .

SaxoTrader Named Best Retail Trading Platform by FX Week

15 Jul 2014, Copenhagen, Denmark - PRNewsWire - Saxo Bank, the leading online trading and investment specialist, is pleased to announce that SaxoTrader, its multi-asset trading platform, has been named best retail trading platform at the FX Week e-FX Awards. Saxo Bank, one of the early innovators in online FX trading, has continued to extend its leadership in FX as . . .

Saxo Bank's TradingFloor Named Most Innovative Social Trading Platform by International Finance Magazine

23 Apr 2014, Copenhagen, Denmark - PRNewsWire - Saxo Bank is pleased to announce that TradingFloor.com, the first major platform to offer multi-asset social trading, has been named most innovative social trading platform by International Finance Magazine. Launched earlier this year, TradingFloor.com is an investment solution for the social media age; all users have . . .

Saxo Bank Named Best Broker and Best Proprietary Platform at Forex Magnates 2013 Award Ceremony

13 Nov 2013, London, UK - PRNewsWire - Saxo Bank is a double winner at the Forex Magnates 2013 Award Ceremony. The online trading and investment specialist has been voted "Best Broker" and " Best Proprietary Platform" by 750 of the most influential figures in the FX industry participating at last night's award ceremony in London, hosted by Forex Magnates, a specialized FX news and research source as well as a conference organizer. . . .