Saxo Bank deploys Adenza to address Basel and EBA requirements

Rick Steves

The integration of ControllerView will enhance Basel-driven capital calculations and reporting at Saxo Bank in support of the bank’s multijurisdictional capital and liquidity reporting requirements throughout Denmark, Switzerland and UK, with plans to expand into the Netherlands.

Saxo Bank

Saxo Bank has deployed the Adenza ControllerView data integrity and control platform to power its new Regulatory Platform for Financial, Risk, Capital and Liquidity Reporting.

The move aims to address Basel-driven capital requirements, European Banking Authority (EBA) liquidity and capital standards, along with local financial reporting requirements.

The ControllerView platform, which has been already integrated into Saxo Bank’s existing architecture, draws data from across its operation to streamline the management of reporting obligations and enhance data harmonization across the organization.

Supporting multijurisdictional capital and liquidity reporting requirements

Adenza offers solutions for trading, treasury, risk management and regulatory compliance and it was formed by the merger of Calypso Technology and AxiomSL.

Mette Ingeman Pedersen, Group CFO at Saxo Bank, said: “As financial sector regulation continues to grow, both in terms of scale and complexity, it was critical that we deploy a risk and regulatory platform that allowed us to harmonize regulatory solutions across our global organization, while also gaining operational efficiency and flexibility. By working with Adenza, we will ensure that our risk and regulatory reporting capabilities are equally advanced and capable of scaling with us globally as we continue to grow.”

Imad Abou Haidar, UK Nordics & CIS Regional Head of Sales, Adenza, commented: “The ControllerView solution is such an ideal fit for Saxo Bank because it allows the institution to address all of its regulatory reporting needs today and in the future from a single, highly flexible platform. By delivering a complete, vertically integrated risk calculation and reporting solution, we’ve given Saxo Bank a single source of truth that delivers consistency and reliability in a constantly-changing regulatory environment.”

The integration of ControllerView will enhance Basel-driven capital calculations and reporting at Saxo Bank in support of the bank’s multijurisdictional capital and liquidity reporting requirements throughout Denmark, Switzerland and UK, with plans to expand into the Netherlands.

Weak FX volumes in April 2022

The Danish multi-asset brokerage saw its FX average daily volumes drop to $5.7 billion, down -16 percent month-over-month from $6.6 billion in the month prior. Across a yearly timeframe, this figure managed to best its 2021 equivalent, scoring a slight increase year-over-year from $5.6 billion in April 2021.

In terms of Saxo Bank’s total monthly FX volume for April 2022, it was reported at $126 billion, which is down -12 percent from $152.0 billion a month ago. Further, this figure corresponds to a yearly rise of 2 percent compared to $124 billion in 2021.

In terms of its equities business, Saxo Bank also disappointed in this segment after yielding a figure of $7.7 billion in April 2022, down by 24 percent from the $10.1 billion reported in March. The ADV figure was however higher by 48 percent from $5.2 billion set back a year earlier.

Overall, Saxo Bank’s average daily volume across all asset classes was lower during April 2022, reported at $15.6 billion per day, down 22 percent month-over-month relative to $20 billion the month prior. Moreover, the figure was higher by 23 percent from $12.7 billion a year ago.

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