Monetary policy impact on interest rates - for institutional and corporate clients

Due to the introduction or ongoing levy of negative interest rates on account credit balances by some central banks and deposit banks, Saxo will charge negative interest rates on our standard institutional offering in the relevant reference currencies to any institutional or corporate clients you may be servicing. As Saxo Bank places our clients’ cash conservatively, Saxo is sharing this burden and not completely recovering our costs for the benefit of our clients.  

The charge will apply to balances above the threshold indicated in the table below. On the main trading account, this threshold will be applied to the available net free equity and, in the case of sub-accounts, to the account value. 

The negative interest will be calculated daily for the account credit balance exceeding the threshold and debited to the main trading accounts or sub-accounts at the end of each month for the interest period of the previous month (value date is the last day of the previous month). 

The thresholds and negative interest rates are currently at:

 Threshold Negative interest rate (p.a.) 
 EUR250,000 -0.40% 
 CHF250,000 -0.75% 
 DKK2,000,000 -0.65% 
 SEK2,500,000 -0.50% 

The negative interest rates indicated above will be charged as of 1 March 2017 and apply until further notice. The rates charged are subject to change. The information is also provided on the trading platforms and on Saxo’s institutional prevailing rates website at  http://institutional.saxobank.com/prevailing-rates/general-terms/ in accordance with the General Business Terms. 

The reference interest rates applied by the central banks are continuously monitored by Saxo Bank. If the negative interest rate environment was to change, Saxo aims at adjusting the negative interest rates. 

As you are aware, stocks, bonds and ETFs can also be used as collateral for margin trading.

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