Breaking News: Saxo Bank cuts trading costs by up to 50%

Today, live from the iFXEXPO Asia 2016 hosted by ConversionPros and Finance Magnates, senior executives from technology-led Danish multi-asset trading company Saxo Bank met with Andrew Saks-McLeod to explain the company’s new FX pricing structure in detail. Neil Browning, Senior Director & Head of FX Sales at Saxo Bank revealed that the company has made […]

Today, live from the iFXEXPO Asia 2016 hosted by ConversionPros and Finance Magnates, senior executives from technology-led Danish multi-asset trading company Saxo Bank met with Andrew Saks-McLeod to explain the company’s new FX pricing structure in detail.

Neil Browning, Senior Director & Head of FX Sales at Saxo Bank revealed that the company has made significant changes to its pricing structure to offer institutional and retail clients a choice from their facilitator.

Kurt Vom Scheidt, Executive Director, Global Head of Foreign Exchange at Saxo Bank said “For us it is all about promoting choice by clients.”

“We look at this across four categories which are pricing, liquidity, trading and asset class” he continued.

Mr. Vom Scheidt explained that the company has, as part of the new solution enabled a reduction of trading costs at levels that are up to 50% lower then previously, with spread from as low as 0.2 pips plus $20 per million volume-based commission.”

“We have now launched a solution that provides full spread history and depth of book transparently to facilitate clients being able to make a choice with regard to how they are best served” said Mr. Vom Scheidt.

“Our own liquidity is now supported by new links that show the stop order fill statistics so that we can now show clients what they actually get in terms of stops and fills, so that they can actually feel proud just as we are” said Mr. Vom Scheidt.

“With regard to commission structures, we now offer commission-based DMA (Direct Market Access) with customized feeds tuned to clients’ bespoke needs for optimal execution.

Trading infrastructure

In terms of how this will be provided, Mr. Browning explained that the new solution will be offered across a range of platforms, including the omni-channel SaxoTraderGo experience.”

Continuing with enthusiasm, Mr. Vom Scheidt explained that this can also be accessed directly via a OpenAPI or FIX trading infrastruture.”

“The staple is that one can access 40,000+ instruments in a single cross collateralized account for capital efficiency” said Mr. Browning.

In conclusion, Mr. Vom Scheidt explained “The promotion of choice allows for the asset class that provides market opportunities. This is conducted by using the trading interface that clients demand to access the liquidity that they prefer with the pricing that best suits their needs.”

Photograph: Saxo Bank executives Neil Browning and Kurt Vom Scheidt at iFXEXPO in Hong Kong. Copyright Andrew Saks-McLeod

Read this next

Digital Assets

Embarking on a Digital Currency Journey

Imagine you’ve stumbled upon a treasure map, leading you to untold riches hidden in the vastness of the internet. Instead of gold coins and jewel-encrusted goblets, this treasure comes in the form of digital currencies, the modern-day loot coveted by many.

Reviews

Traders Union Experts Share The Trading Analyst Review For 2024

Navigating options trading in rapidly shifting markets poses a considerable challenge. This is where options trading alert services become invaluable. They aid traders in keeping abreast of evolving opportunities and market trends. In this assessment, Traders Union experts scrutinize The Trading Analyst alert service to ascertain its efficacy. 

Digital Assets

BlockDAG’s Presale Achieves $9.9M: Aiming For A 5000-Fold ROI As Cardano’s Price Rises And Fantom Launches Sonic

Explore Cardano’s surge, Sonic’s efficiency, and why BlockDAG’s growth makes it the top crypto choice. A deep dive into the future of blockchain investments.

Digital Assets

US, UK probe $20 billion Tether transfers tied to Russian exchange.

U.S. and UK authorities are investigating the movement of $20 billion in the USD-pegged stablecoin tether (USDT) through Moscow-based exchange Garantex.

Digital Assets

BlockDAG Presale Raises $9.9M as Batch 5 Nears Sell-Out Amid Bonk’s Fluctuating Trading Volume & Spell’s Bullish Price

Explore BONK’s trading volume, SPELL’s market shifts, and why BlockDAG’s 10,000 ROI makes it an ideal crypto for savvy investors in 2024.

Digital Assets

Bybit expands into Europe amid regulatory scrutiny

Dubai-based cryptocurrency exchange Bybit is expanding its operations in Europe after encountering regulatory challenges in Hong Kong.

Digital Assets

Cathie Wood’s sponsored Bitcoin ETF sees historic $200 million inflows

The ARK 21Shares Bitcoin ETF (ARKB), co-sponsored by Cathie Wood’s ARK Invest, registered historic inflows exceeding $200 million on Wednesday, signaling a robust appetite among investors for Bitcoin-centric investments.

Digital Assets

Sam Bankman-Fried might see his 25-year sentence halved

Sam Bankman-Fried, the founder of the failed cryptocurrency exchange FTX, was sentenced to 25 years in federal prison by a Manhattan court on Thursday. This comes after he was convicted of defrauding customers and investors, with Judge Lewis Kaplan highlighting the potential future risks posed by Bankman-Fried.

Technical Analysis

EURJPY Technical Analysis Report 28 March, 2024

EURJPY currency pair under the bearish pressure after the pair reversed down from the major resistance level 164.25, which also stopped the sharp weekly uptrend at the end of last year,

<