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Saxo Bank Launches Forex Education Programme On Facebook

Saxo Bank has announced the addition of a Forex Trading Education tab to its Saxo Forex fan page on Facebook, allowing traders of all experience levels to enhance their Forex trading knowledge and gain new insights into the psychology of trading.

Facebook has over 400 million users worldwide, and a growing number of companies are moving to the platform to educate and communicate with customers. The Saxo Forex Facebook page has seen a rapid growth in number of ‘fans’, Facebook’s term for users who show interest in the company and automatically receive all updates of the page. Since its launch in February the page has attracted over 5,500 fans, a large percentage of whom read new posts and follow discussions on a daily basis. The page enables users to participate in Forex trading discussions and stay informed of upcoming events, such as seminars.

Many Facebook users with little trading background discovered the page as well, and asked for ways to improve their Forex Trading knowledge. Saxo Bank formulated an education application that is useful for traders of all experience levels. The programme consists of beginner, intermediate, advanced and expert sections. The application will soon be recieving an update, giving visitors the opportunity to test their knowledge beforehand in order to help them decide at which level to start learning. The update will also give users the option to post their progress in the education section on their wall, which will be visible to this person’s contacts.

Educating clients has always been one of Saxo Bank’s strengths. TradeMentor, its existing education programme, offers online and offline course materials on both Forex Trading and CFD Trading and the company aims to reach a broader audience with the Facebook application, giving users the opportunity to discuss the topics with other traders.

Via EPR Network
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Saxo Bank On Track With Sound Results For 2009

Saxo Bank, the online trading and investment specialist, has announced that it has received sound and steady results for 2009 and achieved a positive emergence from the financial crisis.

Business picked up during the second half of 2009 after a relatively slow beginning to the year. Operating income for the year was DKK 2,228 million compared to DKK 2,518 million in 2008. Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) was DKK 441 million while net profit was DKK 201 million with 80% earned in the second half of the year.

As of 31 December 2009, the solvency ratio was 19%. The Bank’s Internal Capital Adequacy Assessment (ICAAP) process showed a minimum capital requirement of 8%.

The founders and CEOs of Saxo Bank, Kim Fournais and Lars Seier Christensen, said in a joint statement:

“Saxo Bank is a trading, investment and savings specialist not engaged in traditional lending activities and not dependant on traditional loan financing business. That has worked to our advantage in what was a very difficult year for everyone. Saxo Bank’s business model has shown some resilience to the financial crisis and we are satisfied with the results.

“2009 was a year of geographical expansion and establishing new business areas. We opened five new offices and our Asset Management business grew significantly. The new Saxo Equity Platform, which was launched in March 2010, sets the stage for a year, which will be characterised by new products and platform developments. Even though such investments have no or limited impact on income in the short run, we believe it is the right time to take advantage of the many opportunities available to take the Bank to the next level.”

The value of clients’ collateral deposits related to the trading business increased more than 70% to DKK 15 billion as of 31 December 2009. On 1 April 2010 it was more than DKK 17 billion.

In 2009, Saxo Asset Management was launched to cater for the top segment of High-Net-Worth Investors. The new business area is the combined concept of three asset management businesses acquired in 2009. The asset management activities of the Bank now include expertise within Danish bonds, Nordic Stocks, high-yield and emerging market bonds. The acquired companies, Sirius, Capital Four and the 51% stake in Global Evolution, grew assets under management organically from approximately DKK 10 DKK billion at the time of acquisition to more than DKK 20 billion as of 31 December 2009. On 1 April 2010 it had grown another 25% to DKK 25 billion.

Saxo Bank is a Forex, CFDs and Futures trading specialist and has no engagement in traditional lending activities. However, in response to the instability and lack of confidence in the financial markets, Saxo Bank chose to join the Danish state’s Guarantee Scheme (Private Contingency Association). On 24 March 2010, a majority in the Danish Parliament agreed on a new guarantee scheme, which would bring deposit guarantees into line with European Union rules. The new guarantee scheme is set to take effect from 1 October 2010. All Danish banks are covered by the scheme.

Via EPR Network
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Saxo Banque Wins Banking Innovation Award 2009

Saxo Banque, the French division of the online trading and investment specialist Saxo Bank, has been awarded the “Prix de l’Innovation 2009” (Banking Innovation Award), by the Investment Forum for its TradeMaker service. The innovative and free-of-charge service enables the bank’s customers to translate an idea into an order, to be kept informed of opportunities, and to compare results from trading ideas proposed by analysts.

The Award ceremony took place on 10th October at the Palais des Congrès, in Paris. Each year, a panel composed of financial journalists and editors from publications including La Tribune, Le Revenu and Investir are convened by the Forum’s organizers to present the innovation award. In the category of ‘Informed Investors’, the panel awarded the 2009 prize to Saxo Bank’s new TradeMaker facility.

TradeMaker was developed in response to two of the obstacles facing both futures traders and more general investors. Firstly, TradeMaker addresses the feelings of confusion that often arise from an overwhelming abundance of information. Secondly, TradeMaker facilitates the application of this information, allowing the investor to employ the resultant data in their trading.

TradeMaker publishes the results of proposed trading ideas. Customers can subsequently choose the issuer with the best performance for a given product. TradeMaker then uses text and graphics to explain trading ideas before pre-completing order forms which include such considerations as Stops and Limits. Relevant trade data, which is not always easy to assimilate, is translated into an order by the issuer. The customer need simply choose the value of his or her investment before validating the order with a click of the mouse. Advice, Trading Assistance and Transparency are the three major advantages of the TradeMaker tool.

Pierre-Antoine Dusoulier, CEO of Saxo Banque, declared: “It is a real honour for Saxo Banque to win an award such as this. It is reward in particular for our engineers who work hard all year on the development of new services to grow the platform and deliver increasingly innovative solutions to our customers. Saxo Banque is an independent bank, we create our own products by way of a dedicated technology research unit.”

Via EPR Network
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