Saxo Bank one of the largest financial derivatives broker has signed up with Sungard to offer its Ambit on an application service provider basis. The move will help Saxo Bank reduce IT related costs and enhance operational efficiency.
Saxo Bank AG is part of the larger Danish Saxo Bank group with international offices and financial products. Saxo Bank offers traders its own proprietary platform the Saxo Trader.
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Saxo Bank is recognised as a fully functioning bank where it offers current and savings account.
The Ambit system comes with a wide range of uses. Saxo Bank AG will be able use functionality such as reconciliation, portfolio management, fund administration, risk and portfolio risk management, valuations, and access to market data.
Saxo Bank has an average daily trade volume of $10 billion in margin products, it also offers equites, futures and options. Earlier in 2011 Saxo Bank acquired Leverate an MT4 reseller, thus giving Saxo access to the metatrader market.