Saxo Bank introduces new policy for white label clients’ proprietary trading

Maria Nikolova

The company will offer a full separate structure for proprietary trading requirements.

Saxo Bank

Saxo Markets, the institutional division of Saxo Bank Group, has announced the introduction of a new policy for white label clients’ proprietary trading.

The changes are made in response to what the multi-asset trading and fintech provider called “increased complexity within reporting requirements”.

In order to have full transparency and to keep the activity of their client trading separate from any prop trading activity, Saxo is offering its white label partners a full separate structure for all prop trading requirements they might have. The proprietary trading structure will give white label partners access to all products offered by Saxo Bank on the same conditions they have within their White Label Structure. The products will be available on Saxo Bank’s comprehensive suite of trading platforms.

The additional structure will be governed by an Institutional Trading Agreement for proprietary trading, whereas the new structure will be subject to a separate authorised dealer set-up.

Saxo underlines that no proprietary trading is allowed within one’s White Label Structure.

Saxo boasts a high number of white label partners that benefit from the bank’s proven technology.

As Saxo Bank’s Søren Kyhl and Stig Tørnes have explained in a detailed research piece, viewing banking as a platform (BaaP) and deciding on which parts of the technology stack the banks will own themselves and which parts they will outsource and use on a white labelled basis is a cost efficient way of being relevant to the clients and protecting revenues. BaaP is a strategy which means a bank is open to partnerships with other banks or fintech companies.

In the research piece, published in October last year, Søren Kyhl and Stig Tørnes argued that the successful bank of the future should aim for a ‘modern’ and ‘open’ IT platform which enables it to realise the benefits offered by economies of scale characterising the financial services industry. They underlined the importance of banks employing a dual partnership strategy: engaging directly with customers via the bank’s customer interface as well as attracting flow or business from other partners, such as banks or fintech companies, within their core areas.

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