Saxo Bank Announces Addition of Six New Forward Outright Crosses
HELLERUP, Denmark, May 12, 2014 /PRNewswire/ --
Saxo Bank, the online multi-asset trading and investment specialist, has announced the addition of six new FX OTC forward outright crosses, increasing the total offering in forwards to 121 pairs.
The foreign exchange rate crosses; AUDNOK (Australian Dollar vs. Norwegian Krone), AUDSEK (Australian Dollar vs. Swedish Krona), CADSEK (Canadian Dollar vs. Swedish Krona), XAUEUR (Gold vs. Euro), NZDZAR (New Zealand Dollar vs. South African Rand) and NZDMXN (New Zealand Dollar vs. Mexican Peso) are now available for online trading for any value date out to one year.
Forward outrights can not only be used to hedge corporate flow, but also for the ordinary investor to cut out the unknown interest rate fluctuation risk in a foreign exchange rate speculation over time; to know the cost or benefit of interest differential for the chosen time period, ahead of time.
Clients of Saxo Bank can trade on live streamed two-way quotes, with deep, dedicated liquidity on transparent pricing. This means Saxo Bank's market making team ensures each investor its own pool of liquidity for any specified streamed amount. This is unique, and something Saxo Bank is very proud of.
Elizabeth Missfeld, FX Product Manager at Saxo Bank, said:
"We are proud to further improve our state of the art multi product offering, and to have such broad range of forward outrights for our clients to trade, not only through our investor platforms, but also through Saxo Treasurer, which is one of our latest additions for corporates seeking a settlement platform with beneficial rates."
The addition follows recent improvements in the forward outright offerings, as tradable value dates for all forward outright were extended to one year.
About Saxo Bank
Saxo Bank is a leading online trading and investment specialist, offering private investors and institutional clients a complete set of tools for their trading and investment strategies. Its financial community portal, TradingFloor.com, is the first multi-asset social trading platform. A fully licensed and regulated European bank, Saxo Bank enables clients to trade FX, CFDs, ETFs, Stocks, Futures, Options and other derivatives on our award-winning SaxoTrader platform, accessible on PCs, tablets or smartphones through a single account and available in more than 20 languages. The platform is white-labelled by more than 100 major financial institutions worldwide. Saxo Bank also offers professional portfolio and fund management as well as traditional banking services through Saxo Privatbank. Founded in 1992, Saxo Bank is headquartered in Copenhagen and has offices in 25 countries throughout Europe, Asia, the Middle East, Latin America, Africa and Australia.
SOURCE Saxo Bank