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Upcoming events and webinars

Webinar
The Future Fed: What It Means for Investors

The appointment of a new Federal Reserve Chair marks a significant turning point for financial markets and investors. Since taking office in May 2026, Kevin Warsh has inherited an economy facing a complex mix of opportunities and challenges, raising important questions about the future direction of US monetary policy. 

Join Raphael Olszyna-Marzys International Economist at Bank J. Safra Sarasin and John J. Hardy Global Head of Macro Strategy at Saxo Bank, for an in-depth discussion of how monetary policy may evolve under the leadership of the new Fed Chair and what it could mean for investors.

Topics include:   

  • The role of the Fed's and why its decisions matter for investors and financial markets
  • The current economic backdrop and the key challenges facing the new Fed Chair
  • What investors can expect under the new Chair's leadership and policy approach
  • How different economic scenarios could shape the outlook for stocks, bonds, currencies, and portfolios

This webinar is part of Saxo Investing Sessions, a series designed to help you become a better investor. 

Are you an Elite client?

Please remember that you can submit your questions in advance to your Relationship Manager. You can also arrange a private session with Saxo Strategists through your RM. 

For a full overview of the exclusive benefits available to Saxo Elite clients, please visit our dedicated page.

 

 

    Webinar
    Building a portfolio with BlackRock - Part I

    Building a strong portfolio requires more than selecting investments. It demands a clear process that combines broad market exposure, active opportunities, and targeted sources of return.

    Join BlackRock and Saxo experts for a three-part webinar series exploring the key building blocks of portfolio construction and how different investment approaches can work together to help investors pursue their long-term financial goals.

    Part I: The Core - Passive Investing

    A well-diversified portfolio starts with a strong core. In this session, we explore how passive investing through ETFs can provide a simple, efficient, and cost-effective foundation for long-term investing.

    Key topics include:

    • Building a resilient foundation for long-term investment objectives
    • The role and benefits of passive ETFS in a portfolio construction framework
    • Using diversification to help manage risk across regions, sectors, and asset classes
    • Turning strategy into action: Practical steps for building a robust portfolio core

    This webinar is part of Saxo Investing Sessions, a series designed to help you become a better investor. 

    Are you an Elite client?

    Please remember that you can submit your questions in advance to your Relationship Manager. You can also arrange a private session with Saxo Strategists through your RM. 

    For a full overview of the exclusive benefits available to Saxo Elite clients, please visit our dedicated page.

     

     

      Webinar
      Building a portfolio with BlackRock - Part II

      Building a strong portfolio requires more than selecting investments. It demands a clear process that combines broad market exposure, active opportunities, and targeted sources of return.

      Join BlackRock and Saxo experts for a three-part webinar series exploring the key building blocks of portfolio construction and how different investment approaches can work together to help investors pursue their long-term financial goals.

      Part II: The Satellite - Active Strategies

      A strong portfolio core can be enhanced with carefully selected active strategies. In this session, we explore how active investing can complement passive holdings and help navigate changing market conditions.

      Key topics include:

      • The role of active management in capturing opportunities and managing risk
      • Combining active investments with a core portfolio
      • Identifying opportunities to build a satellite allocation
      • Navigating evolving market conditions through active decision-making

      This webinar is part of Saxo Investing Sessions, a series designed to help you become a better investor.  


      Are you an Elite client?

      Please remember that you can submit your questions in advance to your Relationship Manager. You can also arrange a private session with Saxo Strategists through your RM. 

      For a full overview of the exclusive benefits available to Saxo Elite clients, please visit our dedicated page.

       

       

        Date:
        Your time:
        Host:
        John J. Hardy - Global Head of Macro Strategy, Saxo Bank and Raphael Olszyna-Marzys - International Economist, Bank J. Safra Sarasin
        Date:
        Your time:
        Host:
        Isabella Friling - Nordic Wealth Segment Strategy Lead, BlackRock and Charu - Chief Investment Strategist, Saxo
        Date:
        Your time:
        Host:
        Giulia Hallqvist - Fundamental Equities Product Strategist, BlackRock, Jean-Marc Routier - Fundamental Equities Head of Product Strategy Solutions, BlackRock and Charu Chanana - Chief Investment Strategist, Saxo
        Webinar
        Building a portfolio with BlackRock - Part III

        Building a strong portfolio requires more than selecting investments. It demands a clear, structured approach that combines broad market exposure, active strategies, and targeted sources of return.

        Join BlackRock experts for a three-part webinar series exploring the key building blocks of portfolio construction and how different investment approaches can work together to help investors pursue their long-term financial goals.

        Part III: The Outer Edge - Opportunistic Investing

        Periods of volatility can create both challenges and opportunities. In the final webinar we will cover how more tactical ETF exposures can be used selectively to pursue differentiated outcomes, and the considerations investors should keep in mind when allocating to higher-risk opportunities.

        Key topics include:

        • Integrating opportunistic investments alongside core and satellite holdings
        • Navigating market volatility with tactical exposures
        • Accessing specific themes, sectors and trends through ETFs
        • Balancing risk and return when investing in more volatile ETFs
        This webinar is part of Saxo Investing Sessions, a series designed to help you become a better investor. 

        Are you an Elite client?

        Please remember that you can submit your questions in advance to your Relationship Manager. You can also arrange a private session with Saxo Strategists through your RM. 

        For a full overview of the exclusive benefits available to Saxo Elite clients, please visit our dedicated page.

         

         

          Date:
          Your time:
          Host:
          Omar Moufti - iShares EMEA Thematics Pillar Product Strategy Lead, BlackRock, Constantin Goebel - EMEA Investment and Portfolio Solutions, BlackRock and Stephanie Lang - Head of Portfolio Consulting DACH & CEE, BlackRock
          Webinar
          The Future Fed: What It Means for Investors

          The appointment of a new Federal Reserve Chair marks a significant turning point for financial markets and investors. Since taking office in May 2026, Kevin Warsh has inherited an economy facing a complex mix of opportunities and challenges, raising important questions about the future direction of US monetary policy. 

          Join Raphael Olszyna-Marzys International Economist at Bank J. Safra Sarasin and John J. Hardy Global Head of Macro Strategy at Saxo Bank, for an in-depth discussion of how monetary policy may evolve under the leadership of the new Fed Chair and what it could mean for investors.

          Topics include:   

          • The role of the Fed's and why its decisions matter for investors and financial markets
          • The current economic backdrop and the key challenges facing the new Fed Chair
          • What investors can expect under the new Chair's leadership and policy approach
          • How different economic scenarios could shape the outlook for stocks, bonds, currencies, and portfolios

          This webinar is part of Saxo Investing Sessions, a series designed to help you become a better investor. 

          Are you an Elite client?

          Please remember that you can submit your questions in advance to your Relationship Manager. You can also arrange a private session with Saxo Strategists through your RM. 

          For a full overview of the exclusive benefits available to Saxo Elite clients, please visit our dedicated page.

           

           

            Date:
            Your time:
            Host:
            John J. Hardy - Global Head of Macro Strategy, Saxo Bank and Raphael Olszyna-Marzys - International Economist, Bank J. Safra Sarasin
            Webinar
            Building a portfolio with BlackRock - Part I

            Building a strong portfolio requires more than selecting investments. It demands a clear process that combines broad market exposure, active opportunities, and targeted sources of return.

            Join BlackRock and Saxo experts for a three-part webinar series exploring the key building blocks of portfolio construction and how different investment approaches can work together to help investors pursue their long-term financial goals.

            Part I: The Core - Passive Investing

            A well-diversified portfolio starts with a strong core. In this session, we explore how passive investing through ETFs can provide a simple, efficient, and cost-effective foundation for long-term investing.

            Key topics include:

            • Building a resilient foundation for long-term investment objectives
            • The role and benefits of passive ETFS in a portfolio construction framework
            • Using diversification to help manage risk across regions, sectors, and asset classes
            • Turning strategy into action: Practical steps for building a robust portfolio core

            This webinar is part of Saxo Investing Sessions, a series designed to help you become a better investor. 

            Are you an Elite client?

            Please remember that you can submit your questions in advance to your Relationship Manager. You can also arrange a private session with Saxo Strategists through your RM. 

            For a full overview of the exclusive benefits available to Saxo Elite clients, please visit our dedicated page.

             

             

              Date:
              Your time:
              Host:
              Isabella Friling - Nordic Wealth Segment Strategy Lead, BlackRock and Charu - Chief Investment Strategist, Saxo
              Webinar
              Building a portfolio with BlackRock - Part II

              Building a strong portfolio requires more than selecting investments. It demands a clear process that combines broad market exposure, active opportunities, and targeted sources of return.

              Join BlackRock and Saxo experts for a three-part webinar series exploring the key building blocks of portfolio construction and how different investment approaches can work together to help investors pursue their long-term financial goals.

              Part II: The Satellite - Active Strategies

              A strong portfolio core can be enhanced with carefully selected active strategies. In this session, we explore how active investing can complement passive holdings and help navigate changing market conditions.

              Key topics include:

              • The role of active management in capturing opportunities and managing risk
              • Combining active investments with a core portfolio
              • Identifying opportunities to build a satellite allocation
              • Navigating evolving market conditions through active decision-making

              This webinar is part of Saxo Investing Sessions, a series designed to help you become a better investor.  


              Are you an Elite client?

              Please remember that you can submit your questions in advance to your Relationship Manager. You can also arrange a private session with Saxo Strategists through your RM. 

              For a full overview of the exclusive benefits available to Saxo Elite clients, please visit our dedicated page.

               

               

                Date:
                Your time:
                Host:
                Giulia Hallqvist - Fundamental Equities Product Strategist, BlackRock, Jean-Marc Routier - Fundamental Equities Head of Product Strategy Solutions, BlackRock and Charu Chanana - Chief Investment Strategist, Saxo
                Webinar
                Building a portfolio with BlackRock - Part III

                Building a strong portfolio requires more than selecting investments. It demands a clear, structured approach that combines broad market exposure, active strategies, and targeted sources of return.

                Join BlackRock experts for a three-part webinar series exploring the key building blocks of portfolio construction and how different investment approaches can work together to help investors pursue their long-term financial goals.

                Part III: The Outer Edge - Opportunistic Investing

                Periods of volatility can create both challenges and opportunities. In the final webinar we will cover how more tactical ETF exposures can be used selectively to pursue differentiated outcomes, and the considerations investors should keep in mind when allocating to higher-risk opportunities.

                Key topics include:

                • Integrating opportunistic investments alongside core and satellite holdings
                • Navigating market volatility with tactical exposures
                • Accessing specific themes, sectors and trends through ETFs
                • Balancing risk and return when investing in more volatile ETFs
                This webinar is part of Saxo Investing Sessions, a series designed to help you become a better investor. 

                Are you an Elite client?

                Please remember that you can submit your questions in advance to your Relationship Manager. You can also arrange a private session with Saxo Strategists through your RM. 

                For a full overview of the exclusive benefits available to Saxo Elite clients, please visit our dedicated page.

                 

                 

                  Date:
                  Your time:
                  Host:
                  Omar Moufti - iShares EMEA Thematics Pillar Product Strategy Lead, BlackRock, Constantin Goebel - EMEA Investment and Portfolio Solutions, BlackRock and Stephanie Lang - Head of Portfolio Consulting DACH & CEE, BlackRock

                  Previous webinars

                  Webinar
                  Reichen ETF-Investments wirklich aus? Wie Sie Ihr Portfolio strategisch erweitern und Chancen mitnehmen

                  Sie investieren bereits in ETFs und fragen sich, ob da noch mehr möglich ist? ETFs sind ein starker Start – aber nicht das Ende Ihrer Investmentreise. Viele Menschen bleiben aus Sicherheitsgründen ausschliesslich bei breit diversifizierten Fonds und verschenken damit mögliche Chancen.

                  In nur 60 Minuten zeigen Ihnen Olga Miler, Ökonomin & Gründerin von SmartPurse, und Ester Morton, Digital Sales bei Saxo Bank Schweiz:

                  - Warum ETF-Strategien oft Potenzial liegen lassen
                  - Wie Sie Ihr Portfolio mit dem Core-Satellite-Ansatz strukturiert aufbauen
                  - Welche Chancen und Risiken Einzelaktien wirklich mitbringen
                  - Wann Einzelaktien Ihr Renditeprofil sinnvoll verbessern können
                  - Wie Sie Ihr Portfolio gezielt und kontrolliert weiterentwickeln

                  Für alle, die vom ETF-Sparplan zum strategischen Gesamtportfolio wachsen möchten.

                   

                  Webinar
                  Gezielt ins Trading starten: Die wichtigsten Grundlagen in 60 Minuten

                  Der Einstieg ins Trading muss nicht kompliziert sein – wenn Sie wissen, worauf es ankommt. 

                  In diesem Webinar erhalten Sie einen strukturierten Überblick über die wichtigsten Bausteine für einen erfolgreichen Start. Sie lernen, wie Sie typische Fehler vermeiden und mit einem klaren Plan statt mit Zufall agieren.

                  In nur 60 Minuten zeigen Ihnen Olga Miler, Ökonomin & Gründerin von SmartPurse, und Erik Schafhauser, Senior Relationship Manager bei Saxo Bank Schweiz:

                  - Was Sie vor Ihrem ersten Trade wissen sollten
                  - Die 5 entscheidenden Tipps für einen gelungenen Einstieg
                  - Welche Märkte und Instrumente sich besonders für Einsteiger eignen
                  - Welche Tools sinnvoll sind und wie Sie einfache Indikatoren nutzen
                  - Wie Sie Risiken von Beginn an bewusst steuern

                  Ideal für Einsteiger:innen und alle, die strukturiert und fundiert ins Trading starten möchten.

                   

                  Webinar
                  Introduction to Options: A Beginner's Guide to Options Trading

                  Options can be a powerful tool for enhancing your investment strategy and managing risk but understanding the basics is essential before you start. Join us for this beginner-friendly webinar where we’ll break down how options work and how they fit into a portfolio.

                  We will cover:

                  • Calls and Puts: The building blocks of options trading and what they mean for investors.
                  • Hedging Strategies: How options can help protect your portfolio against market volatility.
                  • Risk of trading options: Understanding the key challenges and common pitfalls
                  • Practical examples: How to use options to manage risk and diversify.
                  • Platform walkthrough: How to execute option trades. 
                  This webinar is part of Saxo Investing Sessions, a series designed to help you trade smarter and become a more confident investor

                   

                   

                    Host:
                    Olga Miler - Ökonomin & Gründerin SmartPurse, Ester Morton - Digital Sales Saxo Bank Schweiz
                    Host:
                    Olga Miler - Ökonomin & Gründerin SmartPurse, Erik Schafhauser - Senior Relationship Manager Saxo Bank Schweiz
                    Host:
                    Koen Hoorelbeke - Options Strategist, Saxo. In partnership with CME Group
                    Webinar
                    Navigating Market Uncertainty: Insights from Saxo Strategists

                    Periods of market uncertainty are uncomfortable, yet they are an inevitable part of investing. Join highly experienced Saxo Strategists for a roundtable discussion on how they prepare their portfolios ahead of downturns and how they navigate markets when uncertainty rises.

                    In this webinar, we will explore: 

                    • What past market corrections and downturns have taught them
                      How those experiences have shaped their investment thinking.
                    • How they prepare their portfolios for inevitable market swings
                      The principles and approaches they use to build resilience before volatility hits.
                    • How they view the current market environment and key risks 
                      Their perspectives on today's uncertainty and the factors they are watching closely.
                    • What adjustments they make (if any) as well as their best and worst investment moves 
                      Latest portfolio changes and their honest reflections on their best decisions and toughest lessons.
                    This webinar is part of Saxo Investing Sessions, a series designed to help you become a better investor. 

                    Note: Elite clients can book private sessions with Saxo Strategists via their RMs.

                     

                     

                     

                      Webinar
                      How to Research and Analyze Companies

                      Making informed investment decisions starts with understanding the businesses behind the stocks. Join us for this practical webinar where we’ll explore fundamental analysis techniques and tools to help you evaluate companies like a pro.

                      We will cover:

                      • Key fundamentals to look for: Revenue, earnings, valuation ratios, and what they tell you about a company’s health.
                      • Essential research tools: How to use financial statements, analyst reports, and market data effectively.
                      • Peer and industry analysis: Comparing companies within their sector and assessing industry trends for better context.
                      • Practical steps for company analysis: From screening stocks to building your own investment strategy.
                      This webinar is part of Saxo Investing Sessions, a series designed to help you get started and become a better investor. 

                       

                       

                       

                        Webinar
                        War in Iran: Navigating Market Uncertainty

                        Weeks into the war in Iran,  financial markets are grappling with heightened uncertainty. The conflict has disrupted key energy routes, including the Strait of Hormuz, pushing oil prices higher and increasing global inflation risks. Equity markets, particularly in Europe and Asia have reacted sharply as investors reassess growth, inflation, and risk sentiment.

                        Join Saxo's John J. Hardy, Global Head of Macro Strategy and Ole Hansen, Head of Commodity Strategy
                        for a follow up discussion focused on:

                        • The evolving geopolitical landscape
                        • How energy markets are responding and the risks of further disruptions
                        • The impact on global equities, currencies, and commodities
                        • What investors can do to navigate volatility and position portfolios in a fast‑changing environment
                        The goal is to bring some clarity to an uncertain moment and help you understand what lie ahead. 

                        We hope you can join us.

                        Host:
                        John J. Hardy - Global Head of Macro Strategy, Ole S Hansen - Head of Commodity Strategy, Charu Chanana - Chief Investment Strategist, Koen Hoorelbeke - Options Strategist, Ruben Dalfovo - Investment Strategist and Neil Wilson - Investor Content Strategist
                        Host:
                        Charu Chanana - Chief Investment Strategist, Saxo
                        Host:
                        John J. Hardy - Global Head of Macro Strategy and Ole S Hansen - Head of Commodity Strategy
                        Webinar
                        Reichen ETF-Investments wirklich aus? Wie Sie Ihr Portfolio strategisch erweitern und Chancen mitnehmen

                        Sie investieren bereits in ETFs und fragen sich, ob da noch mehr möglich ist? ETFs sind ein starker Start – aber nicht das Ende Ihrer Investmentreise. Viele Menschen bleiben aus Sicherheitsgründen ausschliesslich bei breit diversifizierten Fonds und verschenken damit mögliche Chancen.

                        In nur 60 Minuten zeigen Ihnen Olga Miler, Ökonomin & Gründerin von SmartPurse, und Ester Morton, Digital Sales bei Saxo Bank Schweiz:

                        - Warum ETF-Strategien oft Potenzial liegen lassen
                        - Wie Sie Ihr Portfolio mit dem Core-Satellite-Ansatz strukturiert aufbauen
                        - Welche Chancen und Risiken Einzelaktien wirklich mitbringen
                        - Wann Einzelaktien Ihr Renditeprofil sinnvoll verbessern können
                        - Wie Sie Ihr Portfolio gezielt und kontrolliert weiterentwickeln

                        Für alle, die vom ETF-Sparplan zum strategischen Gesamtportfolio wachsen möchten.

                         

                        Host:
                        Olga Miler - Ökonomin & Gründerin SmartPurse, Ester Morton - Digital Sales Saxo Bank Schweiz
                        Webinar
                        Gezielt ins Trading starten: Die wichtigsten Grundlagen in 60 Minuten

                        Der Einstieg ins Trading muss nicht kompliziert sein – wenn Sie wissen, worauf es ankommt. 

                        In diesem Webinar erhalten Sie einen strukturierten Überblick über die wichtigsten Bausteine für einen erfolgreichen Start. Sie lernen, wie Sie typische Fehler vermeiden und mit einem klaren Plan statt mit Zufall agieren.

                        In nur 60 Minuten zeigen Ihnen Olga Miler, Ökonomin & Gründerin von SmartPurse, und Erik Schafhauser, Senior Relationship Manager bei Saxo Bank Schweiz:

                        - Was Sie vor Ihrem ersten Trade wissen sollten
                        - Die 5 entscheidenden Tipps für einen gelungenen Einstieg
                        - Welche Märkte und Instrumente sich besonders für Einsteiger eignen
                        - Welche Tools sinnvoll sind und wie Sie einfache Indikatoren nutzen
                        - Wie Sie Risiken von Beginn an bewusst steuern

                        Ideal für Einsteiger:innen und alle, die strukturiert und fundiert ins Trading starten möchten.

                         

                        Host:
                        Olga Miler - Ökonomin & Gründerin SmartPurse, Erik Schafhauser - Senior Relationship Manager Saxo Bank Schweiz
                        Webinar
                        Introduction to Options: A Beginner's Guide to Options Trading

                        Options can be a powerful tool for enhancing your investment strategy and managing risk but understanding the basics is essential before you start. Join us for this beginner-friendly webinar where we’ll break down how options work and how they fit into a portfolio.

                        We will cover:

                        • Calls and Puts: The building blocks of options trading and what they mean for investors.
                        • Hedging Strategies: How options can help protect your portfolio against market volatility.
                        • Risk of trading options: Understanding the key challenges and common pitfalls
                        • Practical examples: How to use options to manage risk and diversify.
                        • Platform walkthrough: How to execute option trades. 
                        This webinar is part of Saxo Investing Sessions, a series designed to help you trade smarter and become a more confident investor

                         

                         

                          Host:
                          Koen Hoorelbeke - Options Strategist, Saxo. In partnership with CME Group
                          Webinar
                          Navigating Market Uncertainty: Insights from Saxo Strategists

                          Periods of market uncertainty are uncomfortable, yet they are an inevitable part of investing. Join highly experienced Saxo Strategists for a roundtable discussion on how they prepare their portfolios ahead of downturns and how they navigate markets when uncertainty rises.

                          In this webinar, we will explore: 

                          • What past market corrections and downturns have taught them
                            How those experiences have shaped their investment thinking.
                          • How they prepare their portfolios for inevitable market swings
                            The principles and approaches they use to build resilience before volatility hits.
                          • How they view the current market environment and key risks 
                            Their perspectives on today's uncertainty and the factors they are watching closely.
                          • What adjustments they make (if any) as well as their best and worst investment moves 
                            Latest portfolio changes and their honest reflections on their best decisions and toughest lessons.
                          This webinar is part of Saxo Investing Sessions, a series designed to help you become a better investor. 

                          Note: Elite clients can book private sessions with Saxo Strategists via their RMs.

                           

                           

                           

                            Host:
                            John J. Hardy - Global Head of Macro Strategy, Ole S Hansen - Head of Commodity Strategy, Charu Chanana - Chief Investment Strategist, Koen Hoorelbeke - Options Strategist, Ruben Dalfovo - Investment Strategist and Neil Wilson - Investor Content Strategist
                            Webinar
                            How to Research and Analyze Companies

                            Making informed investment decisions starts with understanding the businesses behind the stocks. Join us for this practical webinar where we’ll explore fundamental analysis techniques and tools to help you evaluate companies like a pro.

                            We will cover:

                            • Key fundamentals to look for: Revenue, earnings, valuation ratios, and what they tell you about a company’s health.
                            • Essential research tools: How to use financial statements, analyst reports, and market data effectively.
                            • Peer and industry analysis: Comparing companies within their sector and assessing industry trends for better context.
                            • Practical steps for company analysis: From screening stocks to building your own investment strategy.
                            This webinar is part of Saxo Investing Sessions, a series designed to help you get started and become a better investor. 

                             

                             

                             

                              Host:
                              Charu Chanana - Chief Investment Strategist, Saxo
                              Webinar
                              War in Iran: Navigating Market Uncertainty

                              Weeks into the war in Iran,  financial markets are grappling with heightened uncertainty. The conflict has disrupted key energy routes, including the Strait of Hormuz, pushing oil prices higher and increasing global inflation risks. Equity markets, particularly in Europe and Asia have reacted sharply as investors reassess growth, inflation, and risk sentiment.

                              Join Saxo's John J. Hardy, Global Head of Macro Strategy and Ole Hansen, Head of Commodity Strategy
                              for a follow up discussion focused on:

                              • The evolving geopolitical landscape
                              • How energy markets are responding and the risks of further disruptions
                              • The impact on global equities, currencies, and commodities
                              • What investors can do to navigate volatility and position portfolios in a fast‑changing environment
                              The goal is to bring some clarity to an uncertain moment and help you understand what lie ahead. 

                              We hope you can join us.

                              Host:
                              John J. Hardy - Global Head of Macro Strategy and Ole S Hansen - Head of Commodity Strategy

                              Saxo Bank (Schweiz) AG
                              The Circle 38
                              CH-8058
                              Zürich-Flughafen
                              Switzerland

                              Contact Saxo

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                              All trading carries risk. Losses can exceed deposits on margin products. You should consider whether you understand how our products work and whether you can afford to take the high risk of losing your money. To help you understand the risks involved we have put together a general Risk Warning series of Key Information Documents (KIDs) highlighting the risks and rewards related to each product. The KIDs can be accessed within the trading platform. Please note that the full prospectus can be obtained free of charge from Saxo Bank (Switzerland) Ltd. or the issuer.

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