{{ "2014-09-01 12:00:00Z" | moment:{inputFormat: 'YYYY-MM-DD HH:mm:ssZ'} }}

Saxo Bank to raise its margin on CHF to 8 pct

Saxo Bank has decided to raise its margin on CHF to 8%, due to the recent appreciation of CHF.

Over the recent weeks, there has been increased pressure on the 1.2000-1.2050 EUR/CHF peg, with the spot market leaving the 1.2150-1.2250 range where it has been for most of 2014, and making a low of 1.2050 on 28 August, 2014. 

On the back of this move, there has been a build-up of short CHF positions in the broader market, which could represent a large risk should the 1.2000 peg give way. As such, any breach of the 1.2000 peg could see a significant appreciation of CHF. 

To reflect this potential increase in risk and to protect our clients, Saxo Bank has decided to raise the margin on CHF to 8%. 

The increase will take place Monday, 8 September, 2014 at 15.00 CET. 

Steffen Wegner Mortensen

Head of PR and Public Affairs

+45 3977 6343 

Saxo Bank Group (Saxo) is a leading Fintech specialist focused on multi-asset trading and investment and delivering ‘Banking-as-a-Service’ to wholesale clients.  

For 25 years, Saxo’s mission has been to democratize investment and trading, enabling clients by facilitating their seamless access to global capital markets through technology and expertise.

As a fully licensed and regulated bank, Saxo enables its direct clients to trade multiple asset classes across global financial markets from one single margin account and across multiple devices. Additionally, Saxo provides wholesale institutional clients such as banks and brokers with multi-asset execution, prime brokerage services and trading technology, supporting the full value chain delivering Banking-as-a-Service (BaaS).

Saxo’s award winning trading platforms are available in more than 20 languages and form the technology backbone of more than 100 financial institutions worldwide.

Founded in 1992 and launching its first online trading platform in 1998, Saxo Bank was a Fintech even before the term was created. Headquartered in Copenhagen Saxo today employs more than 1500 people in financial centers around the world including London, Paris, Zurich, Dubai, Singapore, Shanghai, Hong Kong and Tokyo.