Saxo Bank publishes trading volumes in a move to increase transparency
Saxo Bank has launched a new transparency initiative publicising client deposits, daily average and monthly trading volumes. Saxo Bank is the first non-public bank or brokerage to publish these figures, demonstrating its dedication to transparency within the financial industry.
Saxo Bank is the first non-public bank or brokerage to publish these figures, demonstrating its dedication to transparency within the financial industry. The figures will be published every fifth day of the month on: www.saxoworld.com/investorrelations/transparency
The figures published show clients’ collateral deposits for trading at USD 6.83 billion for July 2013, a rise of 10% since the beginning of the year when it was at USD 6.21 billion.
After a strong start to the year, trading volumes have somewhat subsided from an average daily volume of USD 16.2 billion over the first 6 months of 2013 to an equivalent figure of USD 11.9 billion in July 2013.
Didier Abbato, Global Product Manager at Saxo Bank commented:
“We pride ourselves on being leaders and innovators when it comes to transparency within the financial services industry, which is vital due to the issues that the industry has faced in the past. We continually strive to develop and put in place new ways to improve the amount of information available to our clients. By undertaking such initiatives we continue to gain legitimacy and improve our reputation in the market.”
Saxo Bank was first to publish OTC options data and has since had as a core ambition to promote openness and transparency. In June 2012, the Bank announced the launch of its FX Open Orders module on TradingFloor.com, its trading community site. The Forex Open Orders module provides a snapshot of Saxo Bank clients’ aggregated FX open orders on 10 major currency pairs, allowing users access to the historical order book across and within currency pairs.
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.