LONDON and COPENHAGEN - Saxo Bank, the online trading and investment specialist, won a total of 27 awards in Euromoney’s annual FX Poll, and was also placed 23rd in the world for overall market share for the second year, reflecting a solid performance by the Bank during a turbulent economic year.
Euromoney’s annual FX survey is in its 31st year and is widely considered to be a benchmark league table of the FX market. With 12,150 votes being taken into consideration, this year’s survey is the largest and most representative poll to date. Results are based upon both qualitative and quantitative responses from thousands of companies around the world. Treasurers, traders and investors at industrial and commercial corporations, financial institutions, institutional investors and state agencies worldwide rate the banks they use to conduct their currency transactions in terms of both transaction volumes and quality of service.
Saxo Bank came in first in the Single Bank Ratings category for its quality & reliability of repricing. In the Multi-Bank Ratings category it won for its speed of execution as well as its price & volume transparency and its effective & innovative risk-management tools. The Bank also won the first prize for its consistent pricing in Options.
“We are proud to maintain our position in the Euromoney FX Poll in a year characterised by a very challenging environment. This year’s awards proves the viability of Saxo Bank’s business model and reassure us that the Bank will continue its growth in the years to come,” Saxo Bank’s co-CEOs and co-founders Kim Fournais and Lars Seier Christensen said in a joint statement.
2008 was another record year in terms of income and profit for Copenhagen-based online specialist, Saxo Bank. Global operating income ended at DKK 2,518 million (EUR 338 million), an increase of 61% year-on-year. Reaching DKK 631 million (EUR 85 million) in 2008, EBITDA grew 43% over 2007 while net profit increased 23% to DKK 339 million (EUR 45.5 million).
To support continuous growth in revenue and earnings, Saxo Bank recently opened a new office in Milan and this week, Saxo Bank became the first Scandinavian-based bank to open an office in Dubai. Saxo Bank is headquartered in Copenhagen with offices in the UK, France, Switzerland, Spain, Singapore, Australia and Japan.
Full list of Saxo Bank’s awards: Overall market share - 23rd Most improved by Market share - 4th - over $250bn E-trading market share - 7th - proprietary platforms Most improved E-trading market share - 3rd - proprietary platforms - 2nd - multi-bank and independent platforms Single Bank Ratings - 2nd - speed of execution - 1st - quality & reliability of repricing - 3rd - connectivity & automation - 3rd - research & analytics Multi-Bank Ratings - 1st - speed of execution - 1st - in price & volume transparency - 3rd - competitive pricing/transactional cost - 1st - effective & innovative risk-management tools - 3rd - research & analytics Qualitative Rankings - Regions/Product Categories - 3rd - Europe, Middle East & Africa - 4th - Asia and Australasia Research & Strategy - 2nd - Research - G10 - 5th - tailor made/bespoke research - 4th - in quantitative research - 3rd - in flow research Options - 1st - vanilla options/1st generation exotics - consistent pricing - 3rd - vanilla options/1st generation exotics - trading strategy & ideas - 5th - in emerging market options - consistent pricing - 4th - emerging market options - trading strategy & ideas - 4th - structured options/FX-linked products/correlation products - trading strategy and ideas Currencies - 2nd - currencies G10 trading - spot/forward - 5th - currencies emerging market trading - spot/forward
About Saxo Bank
Saxo Bank is an online trading and investment specialist, enabling clients to trade Forex, CFDs, Stocks, Futures, Options and other derivatives, as well as providing portfolio management via SaxoWebTrader and SaxoTrader, the leading online trading platforms. SaxoTrader is available directly through Saxo Bank or through one of the Bank’s global partners. White Labelling is a significant business area for Saxo Bank, and involves the Bank’s online trading platform being customised and branded for other financial institutions and brokers. Saxo Bank has more than 120 White Label Partners and boasts thousands of clients in over 180 countries. Saxo Bank is headquartered in Copenhagen with offices in Australia, France, Italy, Japan, Singapore, Spain, Switzerland, UK, and the United Arab Emirates.
Source: Saxo Bank
Media enquiries: Jeanette Nielsen, PR Manager, +45-51-59-52-75, press at saxobank.com
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Saxo Bank Announces Record ProfitsMarch 30th, 2009 COPENHAGEN - Today, the online trading and investment specialist, Saxo Bank, announced
an increase in operating income of 61 percent, and a net profit increase of
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Saxo Bank Launches Milan Office in Response to 78% Growth in FX Trading Volumes in ItalyMarch 19th, 2009 COPENHAGEN - Saxo Bank, the Online Trading and Investment Specialist, Today
Announces the Opening of a New Office in Milan
The opening of the Milan office is a strategic move by Saxo Bank to
strengthen and expand its position as a leading FX provider in Southern
Europe and to offer local clients a better level of service and education. Saxo Bank increased its private client business in Italy by 48% in 2008
compared to 2007.
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