Ordreutførelse

Markedsordre

En markedsordre benyttes til å kjøpe eller selge umiddelbart til den beste prisen tilgjengelig.

Quick Trade IOC (Immediate-or-Cancelled / Umiddelbart-eller-kansellert)- markedsordre er en instruksjon om å kjøpe eller selge umiddelbart så mye som mulig av ordrens størrelse. At ordren er umiddelbar innebærer at ordren plasseres med en fem sekunders levetid (Time-to-Live, TTL), og dersom hele posisjonen ikke fylles vil man derfor kunne få en delvis fylt posisjon. Dersom ikke hele ordren fylles, vil resterende del av ordren kanselleres etter fem sekunder. Pristoleranse kan ikke tilføyes en IOC-markedsordre, hvilket betyr at en kunde ikke kan sette et prisområde der man ønsker eksekvering.

"Resting"-markedsordre er en markedsordre med en daglig varighet der man vil kjøpe eller selge umiddelbart så mye som mulig til den beste tilgjengelige prisen. En "resting"- markedsordre kan medføre delvis fylte posisjoner. Hvis ikke hele ordren fylles, vil ordren fortsatt være aktiv for den resterende mengden inntil utløpet av den valgte varigheten.

Limit-ordrer

Grenseordrer brukes til å ta gevinst eller kommer seg inn i markedet på til et bestemt kursnivå:

  • Grenseordrer for kjøp kan kun plasseres under gjeldende markedskurs
  • Grenseordrer for salg kan kun plasseres over gjeldende markedskurs

Quick Trade IOC- grenseordre (Immediate-or-Cancel / Umiddelbar-eller-kanseller) er en instruksjon om å umiddelbart kjøpe eller selge så mye som mulig av ordrens størrelse til et forhåndsdefinert prisnivå. At ordren er umiddelbar innebærer at ordren plasseres med en fem sekunders levetid (Time-to-Live, TTL), og dersom hele posisjonen ikke fylles vil man derfor kunne få en delvis fylt posisjon. Dersom ikke hele ordren fylles, vil resterende del av ordren kanselleres etter fem sekunder.

"Resting"- grenseordre er en ordre som arbeider den gitte varigheten (Dag, Good-to-Cancelled, osv) inntil det spesifikke prisnivået trigges, eller at ordren kanselleres eller utløper. En "resting"- grensesordre kan medføre delvis fylte posisjoner. Hvis ikke hele ordren fylles, vil ordren fortsatt være aktiv for den resterende mengden inntil utløpet av den valgte varigheten.

Stoppordrer

En Stoppordre brukes normalt for å begrense tap på et gitt prisnivå. Alle Stoppordre blir trigget av prisen på motsatt side av spreadet. Denne typen ordre fylles som regel på stoppnivået justert for spreadet på gjeldende tidspunkt.

En Stoppordre satt til Kjøp behandles som en Stopp hvis Bid. En Stoppordre satt til Selg behandles som en Stopp hvis Offer. Stopp hvis Bid ordre brukes som regel for å begrense tap på Short-posisjoner. Stopp hvis Offer ordre brukes som regel for å begrense tap på Long-posisjoner. Dette er for å forhindre ordre fra å bli trigget på grunn av et midlertidig stort spread (kanskje bare i et brøkdels sekund) i motsetning til at faktiske kjøpere og selgere er tilstede i markedet.

  • Stopp hvis Bid ordre satt til Kjøp blir, når de trigges, som oftest fylt på ordrenivå tillagt kundens spread. I volatile markeder med store prisbevegelser kan ordren fylles til markedets daværende Offer-pris.
  • Stopp hvis Offer ordre satt til Selg blir, når de trigges, som oftest fylt på stoppordrenivået fratrukket kundens spread. I volatile markeder med store prisbevegelser kan ordren fylles til markedets daværende Bid-pris.

Saxo Banks ordrehåndteringssystem har visse kundebeskyttelsesmekanismer på plass som sikrer at de aller fleste ordre fylles på transparente priser uten "slippage". Her kan du se vår historiske stoppordre statistikk.

Resting Stopp-Grenseordre - En Stopp-Grenseordre med varierende varighet (Dag, Good-Til-Cancelled osv.) som er passiv i Saxo satt til den trigges, kanselleres eller utløper. Når prisen blir trigget konverteres en Resting Stopp-Grenseordre til en Resting Grenseordre på det valgte stopp-nivået. En Resting Grenseordre kan resultere i delvis fylte posisjoner. Hvis ordren ikke kan fylles i sin helhet vil den resterende andelen bli forsøkt fylt i løpet av den valgte varigheten for ordren.

Order Driven Execution Statistics

As a way to demonstrate its commitment to increased transparency and delivery of fair outcomes to clients, Saxo Bank has taken the initiative to publish it's FX order execution statistics to help clients evaluate execution quality when considering their best choice of trading provider. 

We are proud that these statistics illustrate that Saxo Bank’s interests are aligned with our clients in providing quality execution with significant price improvement and no asymmetric slippage.

The tables below show the following execution statistics published on a monthly basis, for Saxo Bank’s most traded FX spot currency pairs:

  • Limit IOC Order Statistics
  • Limit IOC Order Average Improvement, by price tolerance setting
  • Limit IOC Order Fill Rate, by price tolerance setting
  • Limit IOC Order Execution Speed
  • Resting Stop Order Statistics
  • Resting Limit Order Statistics
May 2017

Limit IOC Order Statistics

Currency Pair Price Improvement* Zero Slippage* Negative Slippage* Average Net Slippage (pips)* Average Improvement (pips)** Average Tolerance (pips) Fill Rate***
AUDUSD 14.9% 71.4% 13.7% 0.0 1.0 1.0 99.4%
EURGBP 18.4% 62.9% 18.7% 0.0 0.9 0.9 99.5%
EURJPY 24.0% 51.1% 24.9% 0.0 46.5 46.5 99.6%
EURUSD 18.4% 63.4% 18.2% 0.0 5.4 5.4 99.7%
GBPJPY 24.6% 50.3% 25.1% 0.0 3.3 3.3 99.0%
GBPUSD 19.9% 60.1% 20.1% 0.0 1.4 1.4 99.3%
NZDUSD 12.2% 75.0% 12.8% 0.0 1.0 1.0 99.3%
USDCAD 17.7% 64.5% 17.8% 0.0 1.5 1.5 99.7%
USDCHF 13.5% 72.4% 14.2% 0.0 1.1 1.1 99.7%
USDJPY 20.1% 58.7% 21.2% 0.0 4.7 4.7 99.6%
XAGUSD 15.5% 72.5% 12.1% 1.5 22.0 20.5 95.2%
XAUUSD 26.2% 47.8% 26.0% 0.2 19.9 19.7 98.9%

* Calculated from the indicative market price available in the client Quick Trade window at the time of order placement
** Calculated from the Limit IOC order level
*** On Limit IOC orders with default price tolerance of 0.01% and above

Limit IOC Order Average Improvement*, by price tolerance setting

Currency Pair 0.0 pips* 0.1 – 0.2 pips* 0.3 – 0.6 pips* 0.7 – 1.0 pips* > 1.1 pips*
AUDUSD 0.0 0.1 0.5 0.7 18.5
EURGBP 0.0 - 0.4 0.9 3.2
EURJPY 0.1 0.1 0.4 0.9 47.0
EURUSD 0.1 0.2 0.6 1.0 5.5
GBPJPY 0.0 - 0.4 1.1 3.4
GBPUSD 0.1 0.2 0.5 0.9 1.5
NZDUSD 0.1 - - 0.7 48.6
USDCAD 0.0 - 0.7 1.0 1.5
USDCHF 0.0 0.2 - 1.0 5.9
USDJPY 0.1 0.2 0.6 0.9 4.9
  0.0 pips* 1 - 10 pips* 11 - 25 pips* 25- 50 pips* > 51 pips*
XAGUSD 2.4 5.8 18.1 52.0 350.5
  0.0 pips* 1 - 10 pips* 11 - 20 pips* 21- 30 pips* > 31 pips*
XAUUSD 0.5 4.6 12.7 24.9 833.8

* Calculated from the Limit IOC order level
Note: A hyphen (-) indicates that there were no trade attempts from clients using a Limit IOC order in this currency pair with this price tolerance

Limit IOC Order Fill Rate, by price tolerance setting

Currency Pair 0.0 pips =< 0.2 pips =< 0.6 pips =< 1.0 pips All
AUDUSD 83.5% 86.8% 88.7% 99.1% 99.2%
EURGBP 76.9% 76.9% 77.8% 99.3% 99.5%
EURJPY 78.5% 82.4% 89.4% 90.1% 99.6%
EURUSD 71.8% 77.1% 83.4% 85.7% 99.6%
GBPJPY 91.7% 91.7% 97.8% 98.5% 99.1%
GBPUSD 77.3% 86.9% 91.4% 92.1% 99.2%
NZDUSD 81.0% 81.0% 81.0% 99.2% 99.3%
USDCAD 77.8% 77.8% 78.9% 95.3% 99.7%
USDCHF 72.0% 73.1% 73.1% 99.6% 99.7%
USDJPY 66.8% 74.5% 78.0% 83.5% 99.4%
  0.0 pips =< 10 pips =< 25 pips =< 50 pips All
XAGUSD 97.1% 88.5% 95.8% 95.9% 96.0%
  0.0 pips =< 10 pips =< 20 pips =< 30 pips All
XAUUSD 82.9% 93.0% 98.8% 98.8% 98.9%

Limit IOC Order Execution Speed

Time in Milliseconds Fill Rate
< 50 90.3%
< 100 96.7%
< 250 99.7%
< 500 99.9%
< 1000 100.0%
Average execution speed 29 milliseconds

Resting Stop Order Statistics

Currency Pair Zero Slippage Negative Slippage Average Negative Slippage (pips)* Average Net Slippage (pips)**
AUDUSD 75.7% 24.3% 0.4 0.1
EURGBP 79.3% 20.7% 0.3 0.1
EURJPY 80.5% 19.5% 0.3 0.1
EURUSD 83.1% 16.9% 0.7 0.1
GBPJPY 58.1% 41.9% 0.4 0.1
GBPUSD 71.3% 28.7% 0.4 0.1
NZDUSD 70.4% 29.6% 2.4 0.7
USDCAD 76.8% 23.2% 0.2 0.1
USDCHF 81.8% 18.2% 0.2 0.0
USDJPY 85.2% 14.8% 0.4 0.1
XAGUSD 29.1% 70.3% 23.1 16.1
XAUUSD 46.3% 53.6% 11.3 6.1

* Average slippage based on stop orders that were slipped. Calculated from the stop order level, adjusted for the bid/ask spread at the time of triggering
** Average slippage based on all stop orders. Calculated from the stop order level, adjusted for the bid/ask spread at the time of triggering

Resting Limit Order Statistics

Currency Pair Price Improvement Zero Slippage Average Price Improvement (pips)* Average Net Price Improvement (pips)**
AUDUSD 24.1% 75.9% 0.2 0.1
EURGBP 17.8% 82.2% 0.2 0.0
EURJPY 18.7% 81.3% 0.2 0.0
EURUSD 18.8% 81.2% 0.2 0.0
GBPJPY 35.6% 64.4% 0.4 0.1
GBPUSD 34.6% 65.4% 0.4 0.1
NZDUSD 25.7% 74.3% 0.3 0.1
USDCAD 21.5% 78.5% 0.2 0.0
USDCHF 21.4% 78.6% 0.2 0.1
USDJPY 17.3% 82.7% 0.3 0.1
XAGUSD 61.0% 39.0% 33.0 20.1
XAUUSD 48.3% 51.7% 12.1 5.8

* Average improvement based on limit orders that were improved. Calculated from the limit order level
** Average improvement based on all limit orders. Calculated from the limit order level

April 2017

Limit IOC Order Statistics

Currency Pair Price Improvement* Zero Slippage* Negative Slippage* Average Net Slippage (pips)* Average Improvement (pips)** Average Tolerance (pips) Fill Rate***
AUDUSD 14.3% 72.4% 13.3% 0.0 1.0 1.0 99.5%
EURGBP 19.5% 61.4% 19.1% 0.0 0.9 0.9 99.3%
EURJPY 24.9% 50.3% 24.8% 0.0 1.4 1.4 99.1%
EURUSD 18.2% 64.0% 17.9% 0.0 1.4 1.3 99.3%
GBPJPY 26.5% 47.3% 26.2% 0.0 2.1 2.1 99.1%
GBPUSD 20.2% 59.8% 20.0% 0.0 1.3 1.3 99.0%
NZDUSD 13.3% 75.8% 10.8% 0.0 0.7 0.7 99.8%
USDCAD 17.1% 65.7% 17.2% 0.0 1.5 1.5 99.5%
USDCHF 13.8% 69.7% 16.5% 0.0 1.1 1.1 99.6%
USDJPY 21.5% 56.2% 22.3% 0.0 2.3 2.3 99.4%
XAGUSD 16.7% 70.8% 12.5% 1.7 19.3 17.6 95.8%
XAUUSD 28.9% 44.3% 26.8% 0.4 27.4 27.0 98.5%

* Calculated from the indicative market price available in the client Quick Trade window at the time of order placement 
** Calculated from the Limit IOC order level
*** On Limit IOC orders with default price tolerance of 0.01% and above



Limit IOC Order Average Improvement *, by price tolerance setting

Currency Pair 0.0 pips* 0.1 – 0.2 pips* 0.3 – 0.6 pips* 0.7 – 1.0 pips* > 1.1 pips*
AUDUSD 0.0 0.2 0.5 0.8 4.1
EURGBP 0.0 0.1 0.5 0.9 1.4
EURJPY 0.1 0.1 0.6 0.9 1.5
EURUSD 0.1 0.2 0.6 0.9 1.5
GBPJPY 0.1 0.0 0.4 1.0 2.2
GBPUSD 0.2 0.2 0.6 1.0 1.4
NZDUSD 0.0 0.2 0.5 0.8 1.2
USDCAD 0.0 0.4 0.6 1.0 1.5
USDCHF - 0.2 0.5 1.0 1.7
USDJPY 0.0 0.2 0.6 0.9 2.5
0.0 pips* 1 - 10 pips* 11 - 25 pips* 25- 50 pips* > 51 pips*
XAGUSD 5.9 10.2 19.5 - 142.0
0.0 pips* 1 - 10 pips* 11 - 20 pips* 21- 30 pips* > 31 pips*
XAUUSD 1.2 6.0 13.3 25.0 912.0

* Calculated from the Limit IOC order level
Note: A hyphen (-) indicates that there were no trade attempts from clients using a Limit IOC order in this currency pair with this price tolerance



Limit IOC Order Fill Rate, by price tolerance setting

Currency Pair 0.0 pips =< 0.2 pips =< 0.6 pips =< 1.0 pips All
AUDUSD 86.2% 79.4% 93.3% 98.6% 98.8%
EURGBP 66.7% 75.8% 91.9% 98.3% 98.6%
EURJPY 68.6% 71.3% 72.0% 96.1% 99.0%
EURUSD 73.3% 70.0% 82.3% 92.5% 98.5%
GBPJPY 68.2% 69.6% 78.4% 94.4% 99.0%
GBPUSD 72.7% 79.8% 85.6% 94.5% 98.6%
NZDUSD 91.7% 92.9% 97.5% 99.3% 99.5%
USDCAD 70.4% 72.4% 81.4% 98.0% 99.5%
USDCHF 0.0% 75.0% 95.6% 99.1% 99.3%
USDJPY 69.1% 70.5% 78.1% 91.6% 99.1%
  0.0 pips =< 10 pips =< 25 pips =< 50 pips All
XAGUSD 70.8% 76.1% 94.9% 94.9% 95.2%
0.0 pips =< 10 pips =< 20 pips =< 30 pips All
XAUUSD 85.7% 88.2% 98.4% 98.4% 98.5%



Limit IOC Order Execution Speed

Time in Milliseconds Fill Rate
< 50 88.5%
< 100 95.3%
< 250 99.6%
< 500 99.9%
< 1000 100.0%
Average execution speed 32



Resting Stop Order Statistics

Currency Pair Zero Slippage Negative Slippage Average Negative Slippage (pips)* Average Net Slippage (pips)**
AUDUSD 78.7% 21.3% 0.5 0.1
EURGBP 77.9% 22.1% 0.3 0.1
EURJPY 78.5% 21.5% 0.2 0.0
EURUSD 79.9% 20.1% 0.3 0.1
GBPJPY 65.1% 34.9% 0.3 0.1
GBPUSD 65.5% 34.5% 0.3 0.1
NZDUSD 77.5% 22.5% 0.3 0.1
USDCAD 69.4% 30.6% 0.4 0.1
USDCHF 77.4% 22.6% 0.7 0.2
USDJPY 83.3% 16.7% 0.6 0.1
XAGUSD 47.0% 53.0% 52.8 28.0
XAUUSD 49.1% 50.9% 34.4 17.5

* Average slippage based on stop orders that were slipped. Calculated from the stop order level, adjusted for the bid/ask spread at the time of triggering
** Average slippage based on all stop orders. Calculated from the stop order level, adjusted for the bid/ask spread at the time of triggering



Resting Limit Order Statistics

Currency Pair Price Improvement Zero Slippage Average Price Improvement (pips)* Average Net Price Improvement (pips)**
AUDUSD 29.4% 70.6% 0.7 0.2
EURGBP 26.0% 74.0% 1.0 0.2
EURJPY 25.0% 75.0% 4.9 1.2
EURUSD 22.5% 77.5% 1.8 0.4
GBPJPY 34.3% 65.7% 2.8 1.0
GBPUSD 34.6% 65.4% 0.6 0.2
NZDUSD 28.7% 71.3% 0.4 0.1
USDCAD 27.2% 72.8% 0.9 0.3
USDCHF 21.6% 78.4% 1.9 0.4
USDJPY 21.5% 78.5% 1.3 0.3
XAGUSD 67.0% 33.0% 43.3 29.0
XAUUSD 53.8% 46.2% 17.3 9.3

* Average improvement based on limit orders that were improved. Calculated from the limit order level
** Average improvement based on all limit orders. Calculated from the limit order level

March 2017

Limit IOC Order Statistics

Currency Pair Price Improvement* Zero Slippage* Negative Slippage* Average Net Slippage (pips)* Average Improvement (pips)** Average Tolerance (pips) Fill Rate***
AUDUSD 18.1% 64.9% 17.0% 0.0 1.1 1.1 99.1%
EURGBP 20.4% 58.9% 20.7% 0.0 0.9 0.9 99.3%
EURJPY 24.3% 51.0% 24.7% 0.0 1.5 1.5 99.5%
EURUSD 19.6% 61.5% 18.9% 0.0 1.3 1.3 99.4%
GBPJPY 27.1% 47.1% 25.8% 0.0 1.7 1.7 98.8%
GBPUSD 23.1% 55.7% 21.2% 0.0 1.6 1.6 99.0%
NZDUSD 15.9% 68.6% 15.6% 0.0 0.7 0.7 98.8%
USDCAD 17.7% 64.6% 17.7% 0.0 1.4 1.4 99.6%
USDCHF 15.7% 69.8% 14.5% 0.0 1.2 1.2 99.7%
USDJPY 23.0% 54.5% 22.4% 0.0 1.6 1.6 99.3%
XAGUSD 18.6% 67.5% 13.8% 1.8 21.8 20.0 95.7%
XAUUSD 29.0% 43.5% 27.6% 0.3 16.3 16.0 98.5%

* Calculated from the indicative market price available in the client Quick Trade window at the time of order placement 
** Calculated from the Limit IOC order level
*** On Limit IOC orders with default price tolerance of 0.01% and above



Limit IOC Order Average Improvement *, by price tolerance setting

Currency Pair 0.0 pips* 0.1 – 0.2 pips* 0.3 – 0.6 pips* 0.7 – 1.0 pips* > 1.1 pips*
AUDUSD 0.1 0.2 0.5 0.8 22.9
EURGBP 0.1 0.1 - 0.9 6.1
EURJPY 0.0 0.4 - 1.0 1.5
EURUSD 0.1 0.2 0.6 1.0 1.3
GBPJPY 0.1 - 0.6 0.8 1.7
GBPUSD 0.1 0.2 0.7 1.1 1.7
NZDUSD 0.0 0.1 - 0.7 2.1
USDCAD 0.1 - - 1.0 1.4
USDCHF 0.0 0.2 - 1.0 3.1
USDJPY 0.1 0.2 0.6 1.0 1.7
  0.0 pips* 1 - 10 pips* 11 - 25 pips* 25- 50 pips* > 51 pips*
XAGUSD 4.5 9.3 19.4 - 1135.4
  0.0 pips* 1 - 10 pips* 11 - 20 pips* 21- 30 pips* > 31 pips*
XAUUSD 1.2 5.5 12.6 22.8 374.4

* Calculated from the Limit IOC order level
Note: A hyphen (-) indicates that there were no trade attempts from clients using a Limit IOC order in this currency pair with this price tolerance



Limit IOC Order Fill Rate, by price tolerance setting

Currency Pair 0.0 pips =< 0.2 pips =< 0.6 pips =< 1.0 pips All
AUDUSD 73.5% 76.5% 78.0% 98.1% 99.0%
EURGBP 72.6% 73.0% 73.0% 98.7% 99.3%
EURJPY 84.6% 81.3% 81.3% 92.5% 99.5%
EURUSD 75.3% 77.7% 79.7% 85.1% 99.2%
GBPJPY 92.3% 92.3% 96.6% 96.9% 98.8%
GBPUSD 68.9% 77.4% 82.2% 83.3% 98.5%
NZDUSD 70.7% 73.5% 73.5% 98.5% 98.8%
USDCAD 71.2% 71.2% 71.2% 75.8% 99.6%
USDCHF 85.7% 93.8% 93.8% 99.6% 99.7%
USDJPY 62.3% 67.2% 73.1% 78.8% 99.0%
  0.0 pips =< 10 pips =< 25 pips =< 50 pips All
XAGUSD 79.5% 81.4% 95.5% 95.5% 95.7%
  0.0 pips =< 10 pips =< 20 pips =< 30 pips All
XAUUSD 79.2% 82.1% 98.3% 98.3% 98.5%



Resting Stop Order Statistics

Currency Pair Zero Slippage Negative Slippage Average Negative Slippage (pips)* Average Net Slippage (pips)**
AUDUSD 78.2% 21.8% 0.6 0.1
EURGBP 74.0% 26.0% 0.6 0.2
EURJPY 76.8% 23.2% 2.5 0.6
EURUSD 79.1% 20.9% 0.5 0.1
GBPJPY 63.7% 36.3% 0.6 0.2
GBPUSD 64.2% 35.8% 0.4 0.1
NZDUSD 72.3% 27.7% 1.3 0.4
USDCAD 74.5% 25.5% 0.5 0.1
USDCHF 77.9% 22.1% 0.3 0.1
USDJPY 83.1% 16.9% 0.6 0.1
XAGUSD 53.9% 45.9% 45.3 20.3
XAUUSD 47.8% 52.2% 14.6 7.6

* Average slippage based on stop orders that were slipped. Calculated from the stop order level, adjusted for the bid/ask spread at the time of triggering
** Average slippage based on all stop orders. Calculated from the stop order level, adjusted for the bid/ask spread at the time of triggering



Resting Limit Order Statistics

Currency Pair Price Improvement Zero Slippage Average Price Improvement (pips)* Average Net Price Improvement (pips)**
AUDUSD 23.5% 76.5% 0.3 0.1
EURGBP 22.2% 77.8% 0.3 0.1
EURJPY 18.4% 81.6% 0.3 0.1
EURUSD 19.6% 80.4% 0.3 0.1
GBPJPY 33.3% 66.7% 0.3 0.1
GBPUSD 34.2% 65.8% 0.3 0.1
NZDUSD 24.9% 75.1% 0.2 0.1
USDCAD 20.0% 80.0% 0.3 0.1
USDCHF 20.0% 80.0% 0.4 0.1
USDJPY 16.8% 83.2% 0.5 0.1
XAGUSD 60.0% 40.0% 31.4 18.8
XAUUSD 50.5% 49.5% 10.5 5.3

* Average improvement based on limit orders that were improved. Calculated from the limit order level
** Average improvement based on all limit orders. Calculated from the limit order level

February 2017

Limit IOC Order Statistics

Currency Pair Price Improvement* Zero Slippage* Negative Slippage* Average Net Slippage (pips)* Average Improvement (pips)** Average Tolerance (pips) Fill Rate***
AUDUSD 18.5% 63.1% 18.4% 0.0 0.8 0.8 99.3%
EURGBP 22.6% 56.1% 21.3% 0.0 0.9 0.9 98.7%
EURJPY 25.0% 49.0% 26.0% 0.0 1.3 1.3 99.7%
EURUSD 19.8% 60.3% 19.8% 0.0 1.2 1.2 99.5%
GBPJPY 29.7% 39.9% 30.4% 0.0 1.8 1.8 98.6%
GBPUSD 23.7% 52.8% 23.5% 0.0 1.4 1.4 98.6%
NZDUSD 16.5% 66.7% 16.8% 0.0 0.7 0.7 98.7%
USDCAD 18.5% 62.5% 19.0% 0.0 1.4 1.4 99.7%
USDCHF 16.9% 66.3% 16.8% 0.0 1.0 1.0 99.5%
USDJPY 23.1% 53.0% 23.9% 0.0 1.5 1.5 99.1%
XAGUSD 16.4% 70.7% 12.9% 0.7 25.5 24.8 96.8%
XAUUSD 28.7% 43.1% 28.2% 0.1 12.6 12.6 98.3%

* Calculated from the indicative market price available in the client Quick Trade window at the time of order placement 
** Calculated from the Limit IOC order level
*** On Limit IOC orders with default price tolerance of 0.01% and above



Limit IOC Order Average Improvement *, by price tolerance setting

Currency Pair 0.0 pips* 0.1 – 0.2 pips* 0.3 – 0.6 pips* 0.7 – 1.0 pips* > 1.1 pips*
AUDUSD 0.1 0.1 0.4 0.8 42.2
EURGBP 0.1 - - 0.9 5.7
EURJPY 0.1 - - 1.1 1.3
EURUSD 0.1 0.2 0.5 1.0 1.3
GBPJPY 0.0 0.4 0.7 1.0 1.8
GBPUSD 0.1 0.2 0.7 1.0 1.4
NZDUSD 0.1 - - 0.7 2.9
USDCAD 0.0 - - 1.0 1.4
USDCHF 0.1 0.2 - 1.0 3.9
USDJPY 0.1 0.2 0.5 1.0 1.6
  0.0 pips* 1 - 10 pips* 11 - 25 pips* 25- 50 pips* > 51 pips*
XAGUSD 1.7 3.4 18.5 35.0 5451.8
  0.0 pips* 1 - 10 pips* 11 - 20 pips* 21- 30 pips* > 31 pips*
XAUUSD 0.7 4.3 12.3 23.8 60.3

* Calculated from the Limit IOC order level
Note: A hyphen (-) indicates that there were no trade attempts from clients using a Limit IOC order in this currency pair with this price tolerance



Limit IOC Order Fill Rate, by price tolerance setting

Currency Pair 0.0 pips =< 0.2 pips =< 0.6 pips =< 1.0 pips All
AUDUSD 77.5% 80.5% 81.1% 98.6% 99.1%
EURGBP 84.3% 84.3% 84.3% 98.6% 98.8%
EURJPY 38.5% 38.5% 38.5% 52.9% 99.7%
EURUSD 67.6% 73.2% 75.9% 90.2% 99.3%
GBPJPY 81.8% 83.8% 84.6% 93.4% 98.6%
GBPUSD 68.6% 76.9% 77.2% 78.8% 98.3%
NZDUSD 90.0% 90.0% 90.0% 98.6% 98.7%
USDCAD 85.7% 85.7% 85.7% 98.9% 99.7%
USDCHF 85.7% 90.9% 90.9% 99.5% 99.5%
USDJPY 75.6% 77.0% 79.4% 87.3% 98.9%
  0.0 pips =< 10 pips =< 25 pips =< 50 pips All
XAGUSD 82.8% 83.8% 96.6% 96.6% 96.9%
  0.0 pips =< 10 pips =< 20 pips =< 30 pips All
XAUUSD 78.6% 82.8% 98.1% 98.1% 98.2%


Resting Stop Order Statistics

Currency Pair Zero Slippage Negative Slippage Average Negative Slippage (pips)* Average Net Slippage (pips)**
AUDUSD 79.2% 20.8% 0.3 0.1
EURGBP 72.9% 27.1% 0.2 0.1
EURJPY 79.7% 20.3% 0.2 0.0
EURUSD 79.9% 20.1% 0.6 0.1
GBPJPY 62.1% 37.9% 0.3 0.1
GBPUSD 66.4% 33.6% 0.3 0.1
NZDUSD 74.2% 25.8% 0.3 0.1
USDCAD 69.6% 30.4% 1.8 0.5
USDCHF 73.6% 26.4% 0.5 0.1
USDJPY 80.1% 19.9% 0.5 0.1
XAGUSD 62.8% 37.2% 37.7 14.1
XAUUSD 47.7% 52.3% 34.0 17.8

* Average slippage based on stop orders that were slipped. Calculated from the stop order level, adjusted for the bid/ask spread at the time of triggering
** Average slippage based on all stop orders. Calculated from the stop order level, adjusted for the bid/ask spread at the time of triggering



Resting Limit Order Statistics

Currency Pair Price Improvement Zero Slippage Average Price Improvement (pips)* Average Net Price Improvement (pips)**
AUDUSD 24.3% 75.7% 0.3 0.1
EURGBP 27.3% 72.7% 0.4 0.1
EURJPY 22.9% 77.1% 0.4 0.1
EURUSD 24.3% 75.7% 0.4 0.1
GBPJPY 39.8% 60.2% 0.4 0.2
GBPUSD 34.6% 65.4% 0.4 0.1
NZDUSD 24.2% 75.8% 0.4 0.1
USDCAD 34.1% 65.9% 1.3 0.4
USDCHF 37.5% 62.5% 0.3 0.1
USDJPY 20.7% 79.3% 0.4 0.1
XAGUSD 61.2% 38.8% 25.5 15.6
XAUUSD 51.3% 48.7% 20.7 10.7

* Average improvement based on limit orders that were improved. Calculated from the limit order level
** Average improvement based on all limit orders. Calculated from the limit order level

January 2017

Limit IOC Order Statistics

Currency Pair Price Improvement* Zero Slippage* Negative Slippage* Average Net Slippage (pips)* Average Improvement (pips)** Average Tolerance (pips) Fill Rate***
AUDUSD 25.7% 51.0% 23.3% 0.0 1.4 1.4 99.2%
EURGBP 27.7% 46.9% 25.5% 0.0 0.9 0.9 97.6%
EURJPY 28.5% 41.1% 30.4% 0.0 1.3 1.3 99.1%
EURUSD 26.7% 48.0% 25.3% 0.0 1.3 1.2 98.7%
GBPJPY 31.7% 33.4% 34.9% 0.0 1.5 1.6 97.8%
GBPUSD 25.6% 47.3% 27.2% 0.0 1.2 1.2 97.8%
NZDUSD 21.5% 57.3% 21.2% 0.0 0.7 0.7 98.4%
USDCAD 25.1% 50.9% 24.0% 0.0 1.3 1.3 98.9%
USDCHF 23.3% 52.3% 24.4% 0.0 1.0 1.0 98.7%
USDJPY 28.3% 41.8% 29.9% 0.0 1.5 1.5 97.7%
XAGUSD 23.7% 59.4% 16.9% 1.2 18.3 17.1 93.5%
XAUUSD 30.3% 37.8% 31.9% 0.0 12.1 12.2 98.0%

* Calculated from the indicative market price available in the client Quick Trade window at the time of order placement 
** Calculated from the Limit IOC order level
*** On Limit IOC orders with default price tolerance of 0.01% and above



Limit IOC Order Average Improvement *, by price tolerance setting

Currency Pair 0.0 pips* 0.1 – 0.2 pips* 0.3 – 0.6 pips* 0.7 – 1.0 pips* > 1.1 pips*
AUDUSD 0.0 0.1 - 0.8 145.1
EURGBP 0.0 - - 0.9 6.5
EURJPY - - 0.5 - 1.3
EURUSD 0.0 0.1 0.5 1.0 1.3
GBPJPY - 0.1 0.5 - 1.6
GBPUSD 0.0 0.1 0.5 1.0 1.2
NZDUSD 0.0 - - 0.7 3.0
USDCAD 0.0 - - 1.0 1.3
USDCHF 0.0 - - 1.0 2.0
USDJPY 0.0 0.1 0.6 1.0 1.5
  0.0 pips* 1 - 10 pips* 11 - 25 pips* 25- 50 pips* > 51 pips*
XAGUSD - - 17.0 - 85.9
  0.0 pips* 1 - 10 pips* 11 - 20 pips* 21- 30 pips* > 31 pips*
XAUUSD 0.0 4.8 12.0 24.0 59.0

* Calculated from the Limit IOC order level
Note: A hyphen (-) indicates that there were no trade attempts from clients using a Limit IOC order in this currency pair with this price tolerance



Limit IOC Order Fill Rate, by price tolerance setting

Currency Pair 0.0 pips =< 0.2 pips =< 0.6 pips =< 1.0 pips All
AUDUSD 65.6% 68.1% 68.1% 97.7% 98.5%
EURGBP 63.0% 63.0% 63.0% 97.0% 97.7%
EURJPY - - 100.0% 100.0% 99.1%
EURUSD 67.0% 70.5% 75.4% 83.9% 98.5%
GBPJPY - 100.0% 83.3% 83.3% 97.8%
GBPUSD 66.7% 79.7% 79.2% 80.3% 97.2%
NZDUSD 63.6% 63.6% 63.6% 98.2% 98.5%
USDCAD 50.0% 50.0% 50.0% 92.6% 98.9%
USDCHF 58.3% 58.3% 58.3% 98.3% 98.7%
USDJPY 59.1% 71.4% 75.9% 84.1% 97.2%
  0.0 pips =< 10 pips =< 25 pips =< 50 pips All
XAGUSD - - 93.5% 93.5% 93.5%
  0.0 pips =< 10 pips =< 20 pips =< 30 pips All
XAUUSD 64.1% 75.2% 97.6% 97.7% 97.9%

Note: A hyphen (-) indicates that there were no trade attempts from clients using a Limit IOC order in this currency pair with this price tolerance



Resting Stop Order Statistics

Currency Pair Zero Slippage Negative Slippage Average Negative Slippage (pips)* Average Net Slippage (pips)**
AUDUSD 78.9% 21.1% 0.3 0.1
EURGBP 76.0% 24.0% 0.3 0.1
EURJPY 72.3% 27.7% 0.3 0.1
EURUSD 80.7% 19.3% 0.4 0.1
GBPJPY 57.8% 42.2% 0.4 0.2
GBPUSD 60.0% 40.0% 0.4 0.2
NZDUSD 70.0% 30.0% 0.3 0.1
USDCAD 69.2% 30.8% 0.3 0.1
USDCHF 75.5% 24.5% 0.7 0.2
USDJPY 78.7% 21.3% 0.5 0.1
XAGUSD 14.0% 86.0% 100.5 86.4
XAUUSD 52.5% 47.5% 8.2 3.9

* Average slippage based on stop orders that were slipped. Calculated from the stop order level, adjusted for the bid/ask spread at the time of triggering
** Average slippage based on all stop orders. Calculated from the stop order level, adjusted for the bid/ask spread at the time of triggering



Resting Limit Order Statistics

Currency Pair Price Improvement Zero Slippage Average Price Improvement (pips)* Average Net Price Improvement (pips)**
AUDUSD 21.7% 78.3% 0.3 0.1
EURGBP 27.0% 73.0% 0.4 0.1
EURJPY 26.5% 73.5% 0.4 0.1
EURUSD 24.8% 75.2% 0.5 0.1
GBPJPY 38.3% 61.7% 0.5 0.2
GBPUSD 39.7% 60.3% 0.4 0.2
NZDUSD 31.7% 68.3% 0.3 0.1
USDCAD 30.8% 69.2% 0.5 0.1
USDCHF 24.6% 75.4% 0.5 0.1
USDJPY 23.5% 76.5% 0.3 0.1
XAGUSD 68.6% 31.4% 77.0 52.8
XAUUSD 47.0% 53.0% 7.7 3.6

* Average improvement based on limit orders that were improved. Calculated from the limit order level
** Average improvement based on all limit orders. Calculated from the limit order level

Advarsel om valutarisiko

Valuta er kategorisert som et rødt produkt fordi det vurderes som et investeringsprodukt med høy kompleksitet og risiko.


Danske banker er forpliktet til å kategorisere investeringsprodukter som tilbys privatkunder, som grønne, gule eller røde, avhengig av produktets kompleksitet og risiko.

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