The move makes Saxo the only platform in the world to provide this service alongside a multi-regional and multi-asset trading and investing offering, enabling a more streamlined process.

As of today, Saxo clients will be able to hold Australian Equities with the Holder Identification Number (HIN) structure of the ASX’s Clearing House Electronic Subregister System (CHESS) in conjunction with the rest of the global securities available on Saxo’s platforms SaxoTraderGO and SaxoTraderPRO.

Commenting on the announcement, Ben Smoker, CEO of Saxo Capital Markets Australia, said: “Every other broker requires investors and traders to switch between accounts and platforms to access different asset classes and different solutions, which is clearly an inefficient and cumbersome process.

“By offering HIN capability for Aussie Equities alongside International Equities, Bonds, CFDs, FX and the rest of our current offering, traders and investors can access what they need, all from the same account,” he said.

Leveraging the power of partnerships

The HIN structure for Australian Equities solution is powered by online stockbroking firm OpenMarkets, as part of a reciprocal partnership established with Saxo in mid-2017. As part of this alliance, Saxo also provides the market infrastructure to allow OpenMarkets offer their own clients access to global equities under a white label model.

“Our alliance with OpenMarkets is a good example of how a partnership approach works in practice, for the benefit of the end-customer. Instead of investing heavily to build everything from scratch, companies can power each other offering their respective capabilities in a win-win,” he said.

In 2015, Saxo transformed its white labelling business with the launch of an open application programming interface (API), providing open access to its market infrastructure for third parties, like OpenMarkets in Australia and more than 120 other financial institutions around the world.

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Australia’s fastest-growing online stockbroker, OpenMarkets, and multi-asset class trading and investment specialist, Saxo Capital Markets, yesterday announced a reciprocal partnership to provide each other with technology solutions to build upon their respective market leading offerings.

The partnership will allow OpenMarkets’ clients to have access to Saxo’s extensive list of global equities with multi-currency settlement, while Saxo clients will now be able to invest in Australian shares through a Holder Identification Number (HIN) structure.

“This represents the collaboration of two Fintech powerhouses in the online broking industry in Australia,” said Saxo Capital Markets Australia CEO, Ben Smoker.

“We are providing the international equities trading engine and technology to OpenMarkets, giving them access to over 19,000 global stocks across 36 different exchanges.”

For OpenMarkets, the alliance with Saxo allows it to become a truly global trading platform, bypassing significant development time and expense to provide its clients with a broader range of trading options. This includes the ability to:

• Buy and sell exchange-listed securities in global markets, including US, UK and the major European and Asian markets;
• View all assets in one portfolio screen;
• Trade through a single platform, where Australian equities are still maintained on HIN;
• Settle all trades (Australian and international) via the client’s one linked cash account
• Consolidate all transactions and holding data, and feed this data to SMSF and portfolio administration reporting platforms.

Conversely, the integration with OpenMarkets allows Saxo to increase trading activity for global shares through its international equities platform.

On the customer side, Saxo will be able to meet market demand for settlement of Australian equities into HIN from a multi-asset platform. This means that Saxo clients will be able to hold Australian stocks through the HIN structure provided by the ASX’s Clearing House Electronic Subregister System (CHESS), alongside other assets within Saxo’s trading platform.
The alliance between OpenMarkets and Saxo also breaks a historical model in the Australian broking industry, where HIN-based stockbrokers for Australian share trading and custodian-based brokers for international shares have always been segregated.

Saxo and OpenMarkets are effectively bridging this gap by providing the first integrated solution for the Australian market.

“This is an alliance between two like-minded technology brokers that have complementary services and share a win-win philosophy towards third party integration. Our partnership with Saxo will result in us being able to offer trading in global securities from one cross-collateralised cash account and we will do this at competitive brokerage and FX rates,” said OpenMarkets CEO, Andrea Marani.

“This global markets trading offering, coupled with our range of reporting platform data feeds, will go a long way towards meeting the demand we are seeing from the SMSF market looking for global investment diversification.”

“Thanks to our new partner, Saxo will be the first broker to offer a HIN solution on a singular, consolidated multi-asset trading platform. This differentiates us from other multi-asset brokers who also offer access to local shares, but do not have HIN,” Mr Smoker said.

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Covering over 5,000 government and corporate bonds across developed and emerging markets, Saxo’s new electronic trading technology is the first of its kind to offer a direct, simple, efficient and transparent way for retail investors and mid-sized institutions to access bonds.

Saxo’s technology redirects client orders into an auction pool of 40 of the largest liquidity providers in the world to compete for those orders in just a few seconds. The result of this process is improved transparency, an improved execution rate and better prices.

Six months after the launch of its technology, Saxo clients have experienced an improvement in spreads of more than 25 basis points (bps). For corporate and emerging market bonds, one in five trades have seen their spreads reduced by 50 bps and some even above 100 bps.

In liquid government bonds, the majority of the trades are now executed on mid-prices or close to mid-prices, effectively cancelling the bid/offer spread in this bond category.

Execution speed has also improved. The time limit for any bond trade in the improved SaxoTraderGO platform is 45 seconds. However, approximately 30 per cent of the trades of government bonds now takes less than one second, while 30 per cent of corporate and emerging market bonds are taking less than 20 seconds.

“Saxo’s digital bond trading technology is making it possible for retail investors and mid-size institutions to directly access fixed income securities without having to go through the hassle of manual execution processes,” said Saxo Capital Markets Australia CEO Ben Smoker.

“The manual bond trading processes can be a challenge in Australia. Up until the recent launch of the Saxo Digital Bond Trading offering, accessibility to bond trading for Australian investors has been limited to only a handful of manual-process brokers offering a somewhat anaemic variety of bonds. The customer experience has been poor due to the time and cost involved,” he said.

Saxo Capital Markets’ decision to build a full digital value chain in the bond markets space has been validated by the reduction of spreads and improvements in the speed of execution.

“Both the spread of a bond trade and the time it takes to execute can be instrumental factors to the performance of our clients’ portfolios and can make a huge difference to potential returns – both in fixed income-only portfolios, but also as part of a multi-asset portfolio,” Mr Smoker said.

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Autochartist covers more than 50 currency pairs, including AUD/JPY, AUD/USD and AUD/NZD, 200 international stocks, the biggest indices, as well as the major commodities.

“With the integration of SaxoTraderGO with Autochartist we further enhance our range of analysis tools available to our clients,” said Ben Smoker, Saxo Capital Markets Australia CEO.

“For traders using Saxo’s platform, there’ll be no need to open other browsers, or run applications and third-party setups, in order to use Autochartist’s automated tools”, he added.

Autochartist’s advanced algorithms constantly monitor global markets and deliver live trade signals through a wide range of parameters based on technical analysis.

Each trade signal presents a simple overview of the underlying analysis and an automatically calculated entry price, take-profit target and stop loss that clients can trade directly in the platform as opportunities occur in the market.

Analysing the markets and finding trade signals using technical analysis is usually a time-consuming process and requires in-depth knowledge. This new tool integrated to Saxo’s platform lets technology do the work automatically and enables clients to cover and analyse the market across asset classes with much greater efficiency,” said Mr Smoker.

The depth of the integration of SaxoTraderGO with Autochartist allows clients to apply highly customisable filters to home in on opportunities aligned with their preferred asset classes and trading strategies, as well as alerting clients to important market events on their preferred assets.

Traders with experience in technical analysis can use the feature to cover more instruments and streamline market research. Traders less familiar with technical analysis can leverage Autochartist to enhance their trading strategies by including technical elements in the decision-making process.

This automated technical analysis feature was first rolled out in Europe in mid-January and is now available for traders in Australia. The service is free to access for all Saxo clients and will also be available to white-label clients later this year.

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Disrupt or be disrupted.

Developing partnerships between the disruptors and the disrupted is key to driving growth of the Australian financial services industry, according to Saxo Capital Markets.

Speaking yesterday at the inaugural Saxo Fintech Agility Conference at Sydney’s Stone & Chalk Fintech hub, Saxo Capital Markets Australia CEO Ben Smoker said: “The greatest success for both financial services companies and the end customers is when businesses with different capabilities combine efforts to deliver more value.

“Companies in finance are free to choose isolation over collaboration, but the fast-paced environment we’re witnessing in the industry today is sending a clear signal to opt for the latter.

“In this highly competitive sector, collaborating with a fast execution will be a defining factor for businesses to increase or even maintain market share.”

A clear advantage for forward thinking companies who chose to accelerate their growth by collaborating with other firms is the reduction of costs and time that would take building technological infrastructure on their own.

“Instead of spending energy and countless resources in developing technological infrastructure, a new model of collaboration suggests that companies can instead focus on their customer’s experience and outsource projects that could take years to build.

“Saxo has made a clear decision to collaborate with other companies in finance, because we know that there’s limited benefit for us in keeping our technological innovation just for ourselves,” Mr Smoker added.

In 2015, Saxo Bank Group opened the trading infrastructure of its latest platform SaxoTraderGO to institutional clients through the bank’s OpenAPI. SaxoTraderGO was entirely written in HTML5, pioneering the industry’s definitive move towards seamless trading across multiple asset classes and mobile devices, and away from legacy systems of the past.

Since its launch, Saxo has built relationships with more than 150 businesses in financial services around the world through its open source trading technology OpenAPI.

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As part of the launch, Saxo will offer its clients access to trading opportunities in over 5,000 investment grade and high yield corporate and government bonds from all over the world and in 20 different currencies, including AUD-denominated securities. The solution will be rolled out in October on SaxoTraderGO, Saxo Group’s multi-asset trading platform.

Saxo will combine its technological prowess and its relationship with 40 of the largest liquidity providers in the global bond markets to offer both retail and institutional clients more transparent, cheaper and more efficient access to fixed income trading opportunities.

The move is set to revolutionise the way investors trade bonds, a process which currently involves a manual “request for quote” (RFQ) from a very small number of banks, and in some instances a single bank. Such process is inefficient as it does not explore the depth of the liquidity and range of prices available in the marketplace.

“Saxo’s digital bond trading solution will connect traders with the entire global bond market in a direct, competitive, transparent, and efficient manner,” said Saxo Capital Markets Australia CEO, Ben Smoker.

Under the new online trading solution, each bond order will be directed to an optimised dealer auction which will comprise up to 40 of largest bond liquidity providers. Thanks to technology, most orders will be executed within seconds, but, most importantly, traders and investors will experience huge cost savings due to the competitive nature of this multi dealer environment.

Saxo’s new online solution will allow, on average, a price improvement for clients of 30 basis points in corporate bonds and a 5 to 10 basis points in government bonds.

“Large institutional investors have had access to fixed income electronic trading for a long time. We’re now enabling retail investors to access an efficient, cheaper and digitised solution, effectively disrupting traditional financial services and levelling the playing field,” Mr Smoker added.

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