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Saxo named Prime of Prime House of the year at FX Week Best Bank Awards

Latest win confirms Saxo's position as the leader in new prime of prime landscape

Saxo Bank Group announces today that it has won in the Best Prime of Prime House category at the FX Week Best Bank awards.

The awards which are voted for by both buy-side and sell-side market participants confirm Saxo’s position as the winner of the prime of prime of choice in the post crisis prime brokerage landscape. The Best FX Prime of Prime House award was introduced in 2016 where Saxo Bank also secured the award.

The awards come at a time of greater consolidation in the FX prime brokerage industry which has suffered from years of deleveraging and exits from major players, leaving in some instances a large number of small to medium sized clients struggling to access prime brokerage services.

Commenting on the win Peter Plester, Head of FX Prime Brokerage Sales, said, “We are thrilled to have won this award and believe that our success in this market can be attributed to our high quality credit provision, superior investment in technology and prudent approach to risk management. The growth of our business is testament to the success of our model as monthly volumes and the number of active clients have grown by 50% year on year and we now have more than 120 prime clients."

Saxo was the first to leverage its technology to introduce pre-trade risk controls at a time when capital and liquidity constraints have meant many large prime brokers are unable to service smaller and medium sized firms. These controls have made Saxo the provider of choice for clients who are now struggling for comprehensive market access and services.

In recent years, Saxo has evolved from an FX credit intermediary to a multi-asset technology driven prime broker finding a way to differentiate from traditional prime brokers through customised liquidity and direct market access to the best liquidity providers and venues. Saxo also provides prime broking clients with collateral optimisation services through cross-collateralisation between global prime infrastructures and lastly open API, which enables Saxo clients to outsource their technology to the bank but still provide a seamless service to their own end clients.

The awards mark the latest in a stellar year of accolades for Saxo which won the Best Trading Platform in The Banker's tech project Awards; Best Retail FX Platform and Best Prime of Prime Provider, FX Week e-FX Awards; Best Forex Broker, Finance Magnates Awards and Best Platform for Active Trader, ADVFN International Finance Awards.

Steffen Wegner Mortensen

Head of PR and Public Affairs

+45 3977 6343 
press@saxobank.com

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.