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
+45 3977 6343
About Saxo Bank
Saxo Bank Group (Saxo) is a leading multi-asset trading and investment specialist, offering a complete set of trading and investment technologies, tools and strategies.
For almost 25 years, Saxo’s mission has been to enable individuals and institutions by facilitating their access to professional trading and investing through technology and expertise.
As a fully licensed and regulated bank, Saxo enables its private clients to trade multiple asset classes across global financial markets from one single margin account and across multiple devices. Additionally, Saxo provides institutional clients such as banks and brokers with multi-asset execution, prime brokerage services and trading technology.
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 headquartered in Copenhagen, Saxo employs more than 1500 people in financial centres around the world including London, Singapore, Paris, Zurich, Dubai and Tokyo.