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Retail FX
Saxo Bank Reports 35% Profit Increase for H1 amid Restructuring
2024-08-29T13:27:40.675+02:00
The bank’s total income increased to EUR 311 million, despite low market volatility.
Client assets hit EUR 109 billion, with over 1.2 million clients as of June 2024.
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Retail FX
Saxo Bank Initiates Strategic Review Led by Major Shareholders
2024-07-18T14:44:10.644+02:00
The firm manages assets exceeding DKK 800 billion from over 1.2 million clients.
Goldman Sachs has been enlisted to advise during the strategic review process.
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Retail FX
Saxo Bank’s FX Trading Volume Hits Bottom Again in June: Daily Average Recovers
2024-07-04T09:11:20.042+02:00
The monthly volume with FX was $78.1 billion, while the daily average was $3.9 billion.
The overall monthly trading volume on the platform declined by 4.2 percent.
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Retail FX
Saxo Bank Initiates Asia Strategy Review, Seeks Partnerships
2024-06-17T10:23:46.255+02:00
Saxo is exploring new partners for its operations in Australia, Japan and Hong Kong.
The company aims to leverage own technology while allowing partners to use their brands.
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Retail FX
Saxo Bank’s FX Volume in May Hits Bottom, Equities Demand Falls from the Peak
2024-06-05T08:23:01.151+02:00
At $79.6 billion, the FX volume in May is the lowest since 2016.
Client assets on Saxo recently reached DKK 800 billion (about $116.1 billion).
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Executives
Saxo Appoints Andrew Bresler as UK CEO
2024-05-30T11:04:33.272+02:00
Bresler becomes Saxo UK's CEO on June 3, succeeding Simon Camilleri.
He brings experience from his previous roles at Saxo, Citibank, and InvestCloud.
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Executives
Saxo Bank Names Casper Solbakken as the Global Head of Commercial Offering and Experience
2024-05-22T21:29:50.405+02:00
Solbakken has worked for over 18 years at the Danish online trading and investment bank.
Since July last year, Solbakken was the Global Head of Products, Pricing, and Platforms.
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Retail FX
Saxo Bank Merges Sales and SXO Units, Names New Chief Commercial Officer
2024-05-21T19:49:52.948+02:00
This step aims to provide cohesive and efficient service to clients.
Stig Christensen, the current Chief Sales Officer, will lead the new entity as Chief Commercial Officer.
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Retail FX
Client Assets on Saxo Hit DKK 800 Billion
2024-05-17T10:23:40.489+02:00
The brokerage added DKK 650 billion in client assets in the last six years.
It has more than 1.2 million clients globally.
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Retail FX
Saxo's Ownership Change: Sampo Sells 19.8% Stake in the Brokerage
2024-05-08T10:56:57.091+02:00
The sale came as a part of the demerger process of Sampo and Mandatum.
The two companies have set the price of the transaction to EUR 302 million.
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Retail FX
Saxo Bank’s FX Volume Recovers in April, Equities Hit Record
2024-05-03T09:20:24.941+02:00
FX demand recovered by 16.6 percent month-over-month but still remains low compared to other months.
Meanwhile, the equities volume reached $303.7 billion, a record on the platform.
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Retail FX
Saxo Bank’s Co-Founder Invests in Crypto Trading Algo Firm
2024-04-23T07:51:07.690+02:00
The investment was made through Lars Seier Christensen’s investment arm.
Christensen divested his stakes in Saxo in 2017.
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Retail FX
Saxo Bank Contemplates €2B Sale, Seeks Investment Advisors: Report
2024-04-16T22:19:16.615+02:00
The Danish investment bank’s options include the sale of its minority or majority stake.
This latest development follows failed merger talks 18 months ago.
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Saxo Bank's Chief Economist Retires after 20 Years of Service
2024-04-04T10:40:14.903+02:00
Steen Jakobsen steps down, leaving a legacy of insightful research.
He was the architect of Saxo Strats and Outrageous Predictions.
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Retail FX
FX Demand on Saxo Bank in March Hits Lowest since at Least 2016
2024-04-04T08:26:19.298+02:00
The monthly volume of FX for March came in at $85.1 billion.
However, demand for equities picked up, with a month-over-month jump of 10 percent.
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Retail FX
S&P Upgrades Saxo Bank's Credit Rating: Broker Scores A-
2024-04-02T11:29:32.464+02:00
The rating agency updates Saxo's rating from BBB due to the solid profitability.
A- is one of the seven highest ratings awarded by S&P.
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Executive Moves
Saxo Bank Gets New COO for MENA Region with an Internal Promotion
2024-03-22T09:28:19.708+02:00
Tara Tyan has been a part of Saxo Bank for about six years.
She also worked at Equiti, FxPro, and Easy Forex.
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Brokers
FX Demand on Saxo Bank Drops in February: Lowest in 2 Years
2024-03-05T11:14:49.161+02:00
The forex volume for the month fell 15.4 percent month-over-month.
While the forex daily average dropped, the figure remained the same or increased for other asset classes.
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Retail FX
Breaking: Saxo Bank’s 2023 Profit Dips 8.1% despite Revenue Rise
2024-03-01T09:26:09.250+02:00
The broker closed the year with an operating income of DKK 4.48 billion.
It ended the year with 1.15 million traders.
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Saxo Bank's January 2024 Forex Volume Dips to 5-Month Low
2024-02-05T10:54:18.628+02:00
However, the overall client activity hits a new high with $375.5 billion.
Equity trading at Saxo surges to $219.78 billion, a significant increase from December.
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Executive Moves
Saxo Bank Strengthens Leadership: Names New Chief Risk and Compliance Officer
2024-01-24T11:38:42.725+02:00
John Carmichael has been promoted to the top compliance role after spending 16 years at Saxo.
The company also promoted three other employees.
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Saxo Partners with FairXchange for Liquidity Management with Data Analytics
2024-01-16T11:33:55.596+02:00
FairXchange equips Saxo Bank with Horizon for enhanced liquidity management.
Since 1998, Saxo Bank has been offering professional tools and global market access to investors.
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Saxo Reveals Fee Cuts to Foster Accessibility in US and Australian Markets
2024-01-15T11:49:52.508+02:00
The firm slashes brokerage fees, with a reduction of 87% for US markets and 62% for the ASX.
Global market traders will benefit from a two-thirds reduction in currency conversion fees.
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FX Volume on Saxo Pushes December’s Overall Figure Higher
2024-01-04T09:25:00.000+02:00
Forex trading demand jumped 13.6 percent last month.
Demand for other asset classes offered by Saxo declined.
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Retail FX
FX Trading on Saxo Gains Momentum in November
2023-12-05T11:36:07.619+02:00
It reported an overall monthly trading volume of $362.9 billion.
Equities demand significantly declined to $198.4 billion.
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