Saxo Bank is a Danish investment bank specializing in online trading and investment.
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34 Facts About Saxo Bank
2.
Saxo Bank offers trading through its online platforms in Forex, stocks, CFDs, futures, funds, bonds, and futures spreads.
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4.
Saxo Bank is known for its success in online trading and investment and has received a number of awards.
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5.
Saxo Bank has launched several white-label partnerships with banks such as Standard Bank, Old Mutual Wealth, Banco Carregosa and Banco Best.
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6.
Saxo Bank describes itself as a facilitator in financial markets.
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7.
Saxo Bank renamed to Saxo Bank, named after the Danish Saxo Grammaticus, because there was already a Nigerian bank called Mida operating at an international level.
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8.
Saxo Bank launched its products and services in Europe during the early 2000s.
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9.
In September 2007, Saxo announced the acquisition of its Swiss white-label client, Synthesis Bank.
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10.
In 2015, Saxo Bank invested in financial technology firm, Saxo Payments The business was sold by Saxo Bank in July 2018 to investment firm EQT for $300M after Saxo Payments relaunched as Banking Circle.
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12.
Saxo Bank was voted into the top spot by subscribers to represent 'reader's choice'.
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13.
In May 2011, Saxo Bank furthermore announced it would provide TD Waterhouse, the UK's leading execution only broker, with an online derivatives trading platform for retail investors.
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14.
Saxo Bank added that the new licence conditions were an important part of restoring investor confidence in the broader broking area and providing reassurance that compliance procedures are in place to ensure risk management practices are of the standard required under the law.
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15.
BBY operated as a white-label to Saxo Bank offering Foreign Exchange contracts and other financial products.
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16.
On 17 September 2010, Saxo Bank announced plans to invest DKK 59 million in Brorup Sparekasse; a small Danish savings bank founded in 1897 with seven branches, which was renamed to Saxo Privatbank offering core banking services in Denmark.
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17.
In January 2014, Saxo Bank launched a beta version of a transformed TradingFloor.
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18.
In May 2015, Saxo Bank launched a new multi-asset trading platform called SaxoTraderGo.
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19.
In September 2015, Saxo Bank announced that it would open access to its trading infrastructure with the launch of OpenAPI, allowing partners, clients and external developers to access the bank's trading infrastructure and enable them to customise their trading experience.
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20.
Saxo Bank launched a copy trading service called Trading Strategies, offering access to a set of trading strategies managed and designed by a wide range of investors selected by Saxo Bank.
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21.
On 23 January 2015, Saxo Bank reported that due mainly to negative client balances on which it may not be able to collect, the bank might be forced to take a loss of up to DKK 700 million .
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22.
In February 2015, a group of over 20 Saxo Bank clients, consisting of both Danish and foreign members, asked Danish law firm Andersen Partners to look at whether they could launch a class action lawsuit against the firm to recover losses made after the sudden removal of the CHF cap.
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23.
In July 2015, the Danish FSA issued its review of Saxo Bank's handling of the Swiss event, issuing two reprimands for having “failed to provide information about limitations for when the so-called "dedicated liquidity” applies” and "for not immediately providing information about significant difficulties in executing client orders to clients.
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24.
Furthermore, it is the assessment of the Danish FSA that the method presented and applied by Saxo Bank to set the adjusted settlement prices for the clients affected contributes to equality of treatment between clients and is not biased towards the interests of the Bank.
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25.
The Board concluded that Saxo has acted in a way that was fair and correct, and in accordance with the bank's general terms of business.
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26.
Saxo Bank is headquartered in Tuborg Havn in the northern outskirts of Copenhagen.
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27.
In 2008, Saxo Bank admitted editing its own Wikipedia entry through an anonymous user to remove information it said was untrue.
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28.
In January 2014, Saxo Bank announced it would be one the Lotus F1 team's sponsors this season, moving into motor racing.
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29.
Saxo Bank told that it would use the Lotus team name in its marketing and be able to host clients at Formula One races as a sponsor.
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30.
In May 2007, Saxo Bank donated one million DKK to the libertarian political party Ny Alliance, co-CEO Lars Christensen later joined the party himself.
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31.
Saxo Bank supported Liberal Alliance financially for several years, but stopped the contribution af the parliamentary election in 2015.
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32.
Saxo Bank was later cleared of all allegations and Danish Berlingske Tidende characterised Saxo Bank's media crisis as a bitter clash between the founders and former employees as well as former clients most likely due to personal disappointments or economic matters.
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33.
Korsoe Jensen, Attorney at Law for Saxo Bank, issued lawsuits against the two former clients in June 2010, for false accusations.
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34.
In July 2010, the Danish FSA completed their investigation of Saxo Bank, having analysed its trading platform and protection of investors.
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