Saxo Bank sees increased interest in FX Prime Brokerage

Saxo Bank’s FX Prime Brokerage business has reported a large increase in the number of new clients looking to open accounts following the fallout of the SNB events and the subsequent termination of clients by other prime brokers.

First Published by e-Forex News: April, 2015

Peter Plester

Peter Plester

Saxo Bank’s FX Prime Brokerage business has reported a large increase in the number of new clients looking to open accounts following the fallout of the SNB events and the subsequent termination of clients by other prime brokers.  Some big bank PBs have recently raised their acceptance criteria which has meant some clients having to look elsewhere for FXPB services.  As a fully regulated European bank, which has been offering FX prime brokerage services for a couple of years, Saxo sits in the top tier of the prime of prime market.  Peter Plester (former Head of FX prime brokerage at Rabobank) joined in 2014 to spearhead the firm’s expansion in the space, including a broadening of the venues available to clients, which includes ECNs and top tier bank and non-bank liquidity providers.