“Meet The Experts” touched base with Michel André, CTO at Saxo Bank, currently one of the biggest names in Forex, for an exclusive interview on the group’s direction and perspective on both technology and Forex innovation.
Mr. André has been at the forefront of the Forex and financial industry for over two decades, both as a leader and senior technologist. More specifically, he has been instrumental in designing and re-architecting existing systems of different kinds related to all kinds of trading and risk management.
1. Saxo Bank was among the first retail brokers to connect with the IEX, what was the driver behind this?
We have a long history of bringing institutional grade tools and capabilities to another client segment and provide professional execution and deep access to any serious trader. The main driver for bringing on IEX and allow for clients to execute is obviously client demand and our drive to provide deep, tailored and broad access to markets for the clients that want that.
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2. When will we see the next big development technologically speaking, in Forex? That is to say, is the hegemony of MT4 perhaps stifling innovation?
I think the ”next” technologic evolution in FX will be driven by several factors. Market microstructure changes, driving parts of FX towards more listed style trading, the rise of algorithmic trading, regulatory changes pushing for centralized clearing, and a macro trend for openness and simplicity. A key component of our strategy has been our focus on the social dimension of trading. To that end, in 2014 Saxo Bank launched TradingFloor.com. Transparency is one of the fundamental drivers behind the concept of TradingFloor.com, putting everything into the open. This will drive about changes in the technology landscape for FX, leaving people that can provide open and tailored access to the varying and evolving market in a package that combines technology, operations, service and risk management for the segment as the clear winners.
3. Departing from FX for a moment, what makes the SaxoTrader platform so successful in the realm of equities?
That we provide broad and deep access to the global equities markets through a single account and single login, and provide institutional grade tooling and execution services combined with good pricing and service makes Saxo Trader a good tool for equity traders. It also allows equity traders to do cross-asset trading hedging risks, leveraging using CFDs through the same single account. So in essence, a broad and deep offering in a single simple package is the driving force.