Saxo Bank Publishes Trading Volumes in a Move to Increase Transparency
HELLERUP, September 2, 2013 /PRNewswire/ --
Saxo Bank, the multi-asset online trading and investment specialist, 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. The figures will be published every fifth day of the month on: http://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.
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. A fully licensed and regulated European bank, Saxo Bank enables clients to trade FX, CFDs, ETFs, Stocks, Futures, Options and other derivatives via three specialised and fully integrated multi-asset trading platforms; the browser-based SaxoWebTrader, the downloadable SaxoTrader and the SaxoTrader app. The platforms are available in over 20 languages and are 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, the Saxo Bank Group is headquartered in Copenhagen with 23 local offices throughout Europe, Asia, Middle East, Latin America, Africa and Australia.
SOURCE Saxo Bank