Saxo Bank publishes trading volumes in a move to increase transparency
Saxo Bank has launched a new transparency initiative publicising client deposits, daily average and monthly trading volumes. Saxo Bank is the first non-public bank or brokerage to publish these figures, demonstrating its dedication to transparency within the financial industry.
Saxo Bank is the first non-public bank or brokerage to publish these figures, demonstrating its dedication to transparency within the financial industry. The figures will be published every fifth day of the month on: www.saxoworld.com/investorrelations/transparency
The figures published show clients’ collateral deposits for trading at USD 6.83 billion for July 2013, a rise of 10% since the beginning of the year when it was at USD 6.21 billion.
After a strong start to the year, trading volumes have somewhat subsided from an average daily volume of USD 16.2 billion over the first 6 months of 2013 to an equivalent figure of USD 11.9 billion in July 2013.
Didier Abbato, Global Product Manager at Saxo Bank commented:
“We pride ourselves on being leaders and innovators when it comes to transparency within the financial services industry, which is vital due to the issues that the industry has faced in the past. We continually strive to develop and put in place new ways to improve the amount of information available to our clients. By undertaking such initiatives we continue to gain legitimacy and improve our reputation in the market.”
Saxo Bank was first to publish OTC options data and has since had as a core ambition to promote openness and transparency. In June 2012, the Bank announced the launch of its FX Open Orders module on TradingFloor.com, its trading community site. The Forex Open Orders module provides a snapshot of Saxo Bank clients’ aggregated FX open orders on 10 major currency pairs, allowing users access to the historical order book across and within currency pairs.
At Saxo we believe that when you invest, you unlock a new curiosity for the world around you. As a provider of multi-asset trading and investment solutions, Saxo’s purpose is to Get Curious People Invested in the World. We are committed to enabling our clients to make more of their money. Saxo was founded in Copenhagen, Denmark in 1992 with a clear vision: to make the global financial markets accessible for more people. In 1998, Saxo launched one of the first online trading platforms in Europe, providing professional-grade tools and easy access to global financial markets for anyone who wanted to invest.
Today, Saxo is an international award-winning investment firm for investors and traders who are serious about making more of their money. As a well-capitalised and profitable Fintech, Saxo is a fully licensed bank under the supervision of the Danish FSA, holding broker and banking licenses in multiple jurisdictions. As one of the earliest fintechs in the world, Saxo continues to invest heavily into our technology. Saxo’s clients and partners enjoy broad access to global capital markets across asset classes on our industry-leading platforms. Our open banking technology also powers more than 200 financial institutions as partners by boosting the investment experience they can offer their clients. Keeping our headquarters in Copenhagen, Saxo has more than 2,500 professionals in financial centres around the world including London, Singapore, Amsterdam, Hong Kong, Zurich, Dubai and Tokyo.
For more information, please visit: www.home.saxo