MiFID II IB Inducements regulation into force on 1 July 2017

As previously communicated in our June newsletter, Denmark has decided to implement new rules on inducement effective 1 July 2017.

Saxo has looked at all IB relationships to ensure these will be compliant after the introduction of the new rules. You might have been in contact with your Account Manager to discuss the following topics:

  • Services delivered by you to the end-clients.
  • Whether you can continue on a traditional commission paying model, which is considered inducement.
  • Whether adjustments are needed to the price at which the end-clients are serviced.

In the cases where we have had to present you to a reduced end-client pricing, we have notified you that such corrected prices will be enforced as of 1 July 2017.

In addition, we would like to emphasize that the inducement rules are tied with the requirements for increased client transparency. While all end-clients already are able to see any payment they have made to their IB, we will also introduce a new IB commission report that shows any payment Saxo has made to their IB, based on their trading activities from 1 July 2017 and onwards. The IB commission report will be made available to your end-clients in “My Account” by end of August 2017, after we have presented you to a sample of it.

Saxo continues to value all of our IBs as business partners and we are always open to discussing and developing our joint business, as well as end-client pricing.

Saxo Bank (Schweiz) AG
Beethovenstrasse 33
CH-8002
Zürich
Switzerland

Switzerland

This website can be accessed worldwide however the information on the website is related to Saxo Bank (Switzerland) Ltd. All clients will directly engage with Saxo Bank (Switzerland) Ltd. and all client agreements will be entered into with Saxo Bank (Switzerland) Ltd. and thus governed by Swiss Law.

If you contact Saxo Bank (Switzerland) Ltd. or visit this website, you acknowledge and agree that any data that you transmit to Saxo Bank (Switzerland) Ltd., either through this website, by telephone or by any other means of communication (e.g. e-mail), may be collected or recorded and transferred to other Saxo Bank Group companies or third parties in Switzerland or abroad and may be stored or otherwise processed by them or Saxo Bank (Switzerland) Ltd. You release Saxo Bank (Switzerland) Ltd. from its obligations under Swiss banking and securities dealer secrecies and, to the extent permitted by law, data protection laws as well as other laws and obligations to protect privacy. Saxo Bank (Switzerland) Ltd. has implemented appropriate technical and organisational measures to protect data from unauthorized processing and disclosure and applies appropriate safeguards to guarantee adequate protection of such data.

Apple, iPad and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc.