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Saxo boosts liquidity and transparency with the launch of new order execution model

A new order driven execution model aligns FX with other asset classes, increasing liquidity and transparency

Saxo Bank, the trading and investment specialist, announces today that it is launching a new order driven execution model for FX Spot, FX Forwards and CFDs on Indices and Commodities, aligning its practices with those in other asset classes as it consolidates its multi-asset trading offering.

The order driven model, which is currently in testing and will be launched in November, will provide clients with executable prices based on Saxo’s own liquidity as well as the liquidity available on a DMA basis in the broader market.

The new model is the cornerstone of Saxo’s ongoing commitment to deliver best execution for its clients by empowering them to take control of their trading. In addition to offering executable prices, the new order model will include further enhancements to clients’ ability to have greater control and transparency over their orders. These include user defined price tolerances, and price improvements will be passed on to clients, while allowing for partial fills.

Commenting on the new order execution model, Kurt vom Scheidt, Global Head of Foreign Exchange, Saxo Bank, said:

“FX as an asset class has seen tremendous growth over the past decade and it is paramount that best execution practices keep up with the evolving landscape. Technology and automation in particular offer opportunities to continuously enhance and empower the end client by giving them greater control and transparency over their orders but also by boosting the breadth and depth of liquidity.

“We are proud to be leading the industry efforts towards improving the efficiency and transparency of the FX market. As an early adopter of the FX Global Code of Conduct and new best execution guidelines under MiFID II, we are more transparent in our order handling process. At Saxo Bank we are doing our part to drive the FX industry to improve because it is of utmost importance to us that our clients are early beneficiaries of the heightened trust and improved execution that enhanced transparency will bring.  This shift in order execution model is our latest of a number of initiatives we have pursued this past year toward that end and we look forward to the continuation of this process leading to better standards and higher industry norms.”

Søren Nedergaard, Global Head of CFD & Listed Products, Saxo Bank adds:

“We started this move towards maximizing clients’ access to market liquidity last year when we converted our CFD Single stock product to a pure DMA model utilizing market leading Smart Order Routers to gain the best possible liquidity sourcing and optimize executions to our clients. Now we continue this journey into the remaining CFD products and strongly believe this will benefit our clients.”

Steffen Wegner Mortensen

Head of PR and Public Affairs

+45 3977 6343 
press@saxobank.com

Saxo Bank is a leading Fintech specialist and global multi-asset facilitator of capital markets products and services. Saxo enables private clients to trade more than 35,000 instruments from one single margin account.

Additionally, Saxo provides institutional clients such as banks and fintechs with Open Banking solutions from multi-asset execution, prime brokerage services to trading technology. Founded in 1992, Saxo Bank has embraced Open Banking from the beginning and is focused on helping clients and partners through win-win partnerships and product innovation.

Since launching its first online trading platform in 1998, Saxo Bank works to empower everyone to navigate their financial future by opening up access to trading and investment. The Saxo Group’s client assets total more than 45 billion euros, and the Group employs more than 2100 people in financial centres around the world including London, Singapore, Amsterdam, Shanghai, Hong Kong, Paris, Zurich, Dubai and Tokyo.

For more information, please visit http://www.home.saxo.

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