Saxo Bank wins best mobile trading initiative at Sell Side Technology Awards
Saxo Bank, the leading Fintech specialist focused on multi-asset trading and investment, has today announced that its transformative fixed income offering, available on mobile via SaxoTraderGO, has won the Best Mobile Trading Initiative at the 2018 Sell Side Technology Awards.
The Sell Side Technology Awards recognise the leading technologies and third party vendors in their areas of expertise through an auditable and transparent methodology developed by the publication’s senior journalists.
The launch of the fixed income service, which covers liquid government and corporate bonds, was part of Saxo's mission to democratise trading for investors and mid-sized institutional clients. Through Saxo Bank’s digital bond trading solution, clients can connect with the entire global bond market, including over 5,000 investment grade and high yield corporate and government bonds in 20 different currencies.
Built on OpenAPI and fully accessible through any browser on a desktop, tablet or mobile device, SaxoTraderGO is pioneering mobile trading, moving the industry away from the legacy systems of the past.
The fixed income launch comes at a particularly relevant time when, due to the best execution requirements of MiFID II, there has been a move away from the highly inefficient Request for Quote (RFQ) manual trading models which in most cases do not explore the depth of liquidity and the range of prices available in the market place.
Furthermore, Saxo Bank’s fixed income fee model is commission-based and is aligned with MiFID II's requirement for greater transparency in fee structures.
Commenting on the win, Simon Fasdal, Head of Fixed Income, Saxo Bank said,
“We are extremely pleased to have won this prestigious industry award which recognises the transformative nature of our fixed income offering. Through our fixed income service, clients receive the same mobile trading experience as they are accustomed to for their equity trading, offering both speed of execution and transparency."
The aim of Saxo Bank’s fixed income project for investors and mid-sized institutional clients is to revolutionise the way they trade bonds – a process which with other providers involves a manual “request for quote” from a small number of banks, and in some instances a single bank. The traditional process is inefficient as it is slow and does not explore the depth of the liquidity and range of prices available in the marketplace.
Saxo Bank’s fully digital bond trading solution connects each client with the entire global bond market, in a direct, competitive, transparent, and efficient manner. Each bond order is directed to an optimized dealer auction which comprises up to 40 of the largest bond liquidity providers. Thanks to technology, most trades are done within seconds and, most importantly, clients benefit from large cost savings due to the competitive nature of the multi-dealer environment.
The fixed income offering also recently won The Banker's Best Trading Platform Project Award 2017.
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.