Saxo becomes SEHK participant, primes for growth with HSBC as partner
• Appoints HSBC as its Third Party Clearing partner
• Follows upgrades to eIPO and EDDA services to better support clients
HONG KONG, 11 January, 2023 – Today Saxo Capital Markets HK Limited (“Saxo”), an online trading and investment specialist, has become a participant of The Stock Exchange of Hong Kong (“SEHK”) the wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (“HKEX”), marking a further step of the firm’s commitment to the Hong Kong market.
As an exchange participant, Saxo will accelerate its growth ambitions, broaden the suite of securities products, and expand its distribution and capabilities. Participants can deal in a wide range of securities products such as equity securities, equity warrants, Exchange Traded Products, derivative warrants, and Callable Bull/Bear Contracts, etc.
Richard Douglas, CEO of Saxo Hong Kong, said, “We’re thrilled to join one of the world’s premier international trading networks to reinforce our advantage in the market - offering our clients and partners unparalleled access to relevant products across asset classes. By joining forces with the HKEX, we can offer our clients even more efficient trade execution and a broader suite of products.”
Wilfred Yiu, Chief Operating Officer and Co-Head of Markets, HKEX, said, “We warmly welcome Saxo as an SEHK participant. The addition of new international participants like Saxo helps add vibrancy to our markets. HKEX is committed to enhancing the competitiveness and resilience of our markets, working together with our partners and stakeholders to further elevate Hong Kong’s status as an international financial center.”
To maximize operational efficiency and fulfil general clearing obligations, Saxo has appointed HSBC as its Third Party Clearing provider.
Rafael Moral Santiago, Regional Head of Asia Pacific, Middle East and North Africa for Securities Services at HSBC commented, “We are pleased to offer Saxo operational, liquidity and capital benefits through our Third Party Clearing solution. Our real-time post trade platform offers seamless integration between the client and the depositories from market clearing to client settlement, asset servicing and IPOs. We continue to invest in these solutions to give our broker-dealer clients a seamless post trade experience.”
In addition to the recent exchange membership and clearing partnership, Saxo recently upgraded its eIPO and EDDA services to support clients to better utilise and protect their assets during challenging market conditions and economic cycles.
“As one of the first financial institutions to develop an online trading platform back in the 90s, Saxo has a strong track record weathering the market uncertainties together with our clients, and our commitment to the Hong Kong market remains steadfast.” Richard adds.
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Saxo Capital Markets HK Limited is a licensed subsidiary of Saxo Bank. Saxo is a leading Fintech specialist that connects people to investment opportunities in global capital markets. In Hong Kong, the company has operated since 2011 and has been serving as a gateway for Saxo in the region. As a provider of multi-asset trading and investment, Saxo’s purpose is to get curious people invested in the world. Saxo’s user-friendly and personalised platform experience gives investors exactly what they need, when they need it, no matter if they want to actively trade global markets or invest into their future.
Founded in 1992, Saxo was one of the first financial institutions to develop an online trading platform that provided private investors with the same tools and market access as professional traders, large institutions, and fund managers. Saxo combines an agile FinTech mindset with close to 30 years of experience and track record in global capital markets to deliver a state-of-the-art experience to clients.
Saxo holds three banking licenses and is well-regulated globally in the jurisdictions we operate in. Saxo offers clients around the world broad access to global capital markets across asset classes, where they can trade more than 65,000 instruments in over 26 languages from one single margin account. Saxo also powers more than 200 financial institutions as partners by boosting the investment experience they can offer their clients via its open banking technology.
Headquartered in Copenhagen, Saxo’s client assets total more than €85bn and the company has more than 2,500 financial and technology professionals in financial centres around the world including London, Singapore, Amsterdam, Shanghai, Hong Kong, Paris, Zurich, Dubai and Tokyo.
For more information, please visit www.home.saxo/en-hk.