Anthony Griffin

Saxo Capital Markets, Australian subsidiary of online trading specialist Saxo Bank, has revealed that 50% of its Asia Pacific region trading volume and revenue is now being generated by retail traders through its multi-device, multi-asset trading platform, SaxoTraderGO. Globally the intuitive platform contributes close to 40% of Saxo’s retail trading flows.

Launched in Australia in June 2015, SaxoTraderGO allows seamless access to the same account across laptop, mobile and tablet devices, with Saxo’s OpenAPI at its foundation. The OpenAPI offers functionality across the trade cycle – from pre-trade execution and post-trade services for ETFs, cash stocks, CFDs, futures, options and FX.

Anthony Griffin, CEO of Saxo Capital Markets Australia, said the ability to access more markets through one platform and one account was clearly resonating with both local and global traders.

”Over 20 per cent of our global revenue from our retail clients is from mobile and tablet devices, and we believe this figure will continue to grow. Three quarters of all our trades and orders come from traders who use multiple devices to trade.”

The recent 2015 Australia Investment Trends CFD Report highlighted trader appetite for multi-asset platforms. According to the report, an overwhelming proportion (42%) of active CFD traders looking to switch say access to direct equities from the same account would be very important. Among those who do not trade yet, but intend to start in the next 12 months (next wave traders), 61% say access to equities within their CFD trading platform is one of the most important features when selecting their future provider, ahead of price.

”We are one of the few providers to have CFDs and equities on the same platform. It really all comes down to being able to offer a streamlined experience as well as understanding the increasing professionalisation of the retail trader,” Mr Griffin said.

“We know that platform performance and functionality are crucial to trader satisfaction and performance. This drives us to constantly improve and evolve our technological capability and services backed by over 20 years of innovation and experience in trading infrastructure,” Mr Griffin said.

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Call for greater transparency in managing client money.

Saxo Capital Markets (Australia) Pty Ltd (Saxo) has called on all financial services firms managing client money to boost transparency, unveiling a market leading initiative that will see a review sent quarterly to all Saxo clients.

Saxo Capital Markets (Australia) Pty Ltd (Saxo) has called on all financial services firms managing client money to boost transparency, unveiling a market leading initiative that will see a review sent quarterly to all Saxo clients.

The review will provide a check between clients’ trading accounts and the segregated trust bank accounts to ensure the two balances can be reconciled and matched, providing total transparency of client money (TOCM).

The new initiative by the online trading and investment specialist aims to provide an extra layer of assurance to its clients of the presence of their funds.

Anthony Griffin, chief executive officer of Saxo Capital Markets (Australia) said investors were not always given a complete picture about the degree of protection of funds, directly affecting every investor.

“At Saxo, we are taking a proactive approach to client money by ensuring total transparency for anyone using our trading platform. We believe the level of oversight being provided should be industry practice for any entity that is an AFSL holder,” he said.

Saxo, a leader in technology, product diversity and access and now client money security, believes this initiative will allow its clients to invest with an additional level of comfort, knowing their funds can be reconciled to its financial statements and not being used for hedging or commercial operation purposes.

The move by Saxo is a more stringent adaptation of the ASIC Class Order (CO 02/294) from 2008 for businesses offering Investor Directed Portfolio Services (IDPS).

“Policies and procedures are not enough to demonstrate transparency, and we believe by going above and beyond what is required by Saxo from a regulatory perspective, we are demonstrating to the market that client money is not an afterthought for Saxo but core to our business as AFSL holders,” Mr Griffin said.

“By ensuring transparency and security, our clients can focus their energy on core activities of investing and trading. Despite this initiative adding an extra layer of compliance for our business, this is an area Saxo is proud to address proactively to benefit our clients,” he concluded.

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