Saxo client collateral deposits exceed DKK 100 billion
Record collateral deposits and trading volumes achieved against backdrop of market volatility
Saxo Bank, the online multi-asset trading and investment specialist, today announced that its client collateral deposits have exceeded DKK 100 billion – a record high that is testament to current levels confidence amongst its client base.
2016 was marked by a number of high profile political events, namely the UK EU referendum on 23 June and the US election on 8 November. With a total of 490,000 client trades on 9 November 2016, the day after the US election, Saxo Bank reached a new record in trading activity. With the French election on 7 May and the upcoming UK election on 8 June 2017 there continues to be events that demand attention from both traders and investors.
Claus Nielsen, Saxo Bank’s Head of Markets, said: “First and foremost we would like to thank both our direct clients and white label clients for their trust in Saxo Bank and will continue to respond to their confidence in us with service and commitment. Alongside the onboarding of new clients, the increase in collateral deposits reaffirms the strength of our multi-asset offering and represents early evidence of Saxo Bank continuing its growth trajectory in 2017.”
Nielsen added: “From Brexit to Trump, we are proud to have ushered clients through a series of macro events unscathed. We thrive when our clients thrive and therefore having informed clients able to make prudent choices within a robust trading infrastructure is essential.”
Saxo Bank’s client collateral deposits nearly doubled from 2013 where it amounted to DKK 50.6 billion.
Saxo Bank’s strategic focus for much of the year so far has been on driving profitable growth and broadening Saxo's client base through continued investments in and the development of its multi-asset product offering.
As of the last set of financial results, operating income for the Group in 2016 was DKK 2.9 billion up from DKK 2.1 billion in 2015. Net profit was DKK 302 million for 2016.
The bank's capital position is strong with a Common Equity Tier 1 ratio of 14.9%, a Tier 1 capital ratio of 17.1% and a total capital ratio of 19.5%. The Common Equity Tier 1 buffer was DKK 1.0 billion, corresponding to 6.4% of the risk exposure amounts.
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.