Saxo Bank announces appointment of new board members following approval of TPG Capital

Wed, 14 Dec 2011 15:19:30 GMT

Saxo Bank, the online trading and investment specialist, is pleased to announce that TPG Capital, one of the world's leading investment firms, has acquired 30% of the total issued share capital of Saxo Bank A/S.

The Danish Financial Supervisory Authority, other international supervisory authorities and the EU Commission have all approved a TPG Capital affiliate as a new qualifying shareholder in Saxo Bank A/S. The transaction has consequently been closed today and the change of ownership has been completed.

TPG Capital has acquired the 30% stake in Saxo Bank from existing investors, including General Atlantic, a global growth investor, and Banco Espirito Santo, a leading Portuguese bank, amongst others. General Atlantic and Banco Espirito Santo invested in Saxo Bank in 2005 and 2008, respectively. Banco Espirito Santo will continue to build its commercial cooperation with Saxo Bank.

As previously announced, the founders of Saxo Bank, Kim Fournais and Lars Seier Christensen, will retain majority ownership and continue in their roles as CEOs. Fournais Holding A/S and Lars Seier Christensen Holding A/S own 29.95% of the Bank each.

Following the new shareholder structure, the Board of Saxo Bank now includes Chairman Kurt K. Larsen, Dennis Malamatinas, Professor Thomas Plenborg as well as new members of the Board, Asiff S. Hirji, Partner at TPG Capital, Karl I. Peterson, Partner at TPG Capital, and Jacob Polny (alternate), Vice President at TPG Capital.

About TPG Capital:
TPG Capital is the global buyout group of TPG, a leading private investment firm founded in 1992, with $48 billion of assets under management and offices in Beijing, Chongqing, Fort Worth, Hong Kong, Houston, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, Paris, San Francisco, São Paulo, Shanghai, Singapore and Tokyo. TPG Capital has deep global financial services expertise with investments that have included Bank Thai, BTPN, Fidelity National Information Services, Korea First Bank, LPL Financial Services, Shenzhen Development Bank, Shriram City Union Finance and Taishin Holdings, among others. The Firm also has extensive technology experience with investments that have included Aptina, Hotwire, Intergraph, Lenovo, MEMC, Sabre Holdings, Seagate, SunGard, and Vertafore, among others. Please visit www.tpg.com for more information.

About Saxo Bank:
Saxo Bank is a leading online trading and investment specialist. A fully licensed and regulated European bank, Saxo Bank enables private investors and institutional clients to trade FX, CFDs, ETFs, Stocks, Futures, Options and other derivatives via three specialised and fully integrated trading platforms; the browser-based SaxoWebTrader, the downloadable SaxoTrader and the SaxoMobileTrader application are available in over 20 languages. Saxo Bank also offers professional portfolio and fund management. Saxo Asset Management accommodates high-net worth private clients and institutional investors and Saxo Privatbank provides banking services and advice to retail clients. The Saxo Bank Group is headquartered in Copenhagen with offices throughout Europe, Asia, Middle East, Latin America and Australia. For more information, please visit www.saxobank.com.

Saxo Bank comments on Eurozone sitation ahead of EU leaders summit

Fri, 02 Dec 2011 16:15:07 GMT

Saxo Bank has released a new macro view video with Steen Jakobsen, Chief Economist, commenting on the situation for the Eurozone ahead of the EU leaders' summit and in light of the major global central banks' intervention to boost liquidity. The concerted central bank action has effectively resulted in the US printing money for Europe seeing as the European Central Bank will not, says Steen, adding that it’s like flying in a jet with one engine only - hardly a safe scenario.

The surprising joint intervention by the world's largest central banks to make it cheaper for financial institutions outside America to borrow dollars has had a positive effect on risk sentiment, but is not expected to last long. For an extended rally or to just sustain gains something more needs to be put on the table, like better fundamentals, plus structural changes and real commitments to toing the line in Eurozone nations, says Steen. The reason being that the severe solvency issues in Europe and deep rooted growth problems are still very much plaguing outlooks.

One could argue that with the central banks having joined forces the pressure is now more so on European politicians to implement lasting austerity and commit to cleaning up their backyards and follow standard rules. The question is whether EU leaders will be able to set things straight once and for all when they meet for the seventeenth time to solve the issues. Steen remains doubtful.

In the meantime, the central bank action has resulted in the cost of emergency dollar funding being cheaper for European banks than US banks. Therefore there is increased expectation now that the Federal Reserve will lower its discount rate by at least 25 basis points before the new dollar swap rate kicks in on December 5. A deeper cut is also possible, he says but that would mean the Federal Reserve is virtually letting go and committing to printing money forever.

Steen also commented on the global macro situation, in particular China, following the Reserve Requirement Ratio cut amid a slowing growth scenario and in terms of timing in a global context. Meanwhile US data continues to please for now at least but he warns that the better numbers may be petering out.

The full video can be viewed at http://www.tradingfloor.com/blogs/macro-ad-hoc/global-central-bank-action-puts-heat-on-eu-summit-to-deliver-886705704.

About Saxo Bank
Saxo Bank is a leading online trading and investment specialist, assisting clients in forex trading, CFDs, Stocks, Futures, Options and other derivatives The three specialised and fully integrated trading platforms; the browser-based SaxoWebTrader, the downloadable SaxoTrader and the SaxoMobileTrader application are available in over 20 languages. Saxo Asset Management accommodates high-net worth private clients and institutional investors. In 2011 Saxo Bank continued the diversification of its business and launched Saxo Privatbank. The Saxo Bank Group is headquartered in Copenhagen with offices throughout Europe, Asia, Middle East, Latin America and Australia.

Saxo Bank releases new Asia Focus Video

Fri, 02 Dec 2011 15:35:11 GMT

Saxo Bank, the online trading specialist, has released a new Asia Focus Video which features Andrew Robinson, Forex Analyst for Saxo Capital Markets in Singapore, analysing the People's Bank of China's decision to lower its reserve requirement ratio, whether it's a taste of more cuts to come and how much it is a clear signal that the world's second-largest economy is really slowing after all.

The unexpected People's Bank of China's announcement that it will lower its reserve requirement ratio on December 5, representing the first cut in three years, initially surprised markets and started a risk-on sentiment, particularly in equities and incited market hunger for more monetary easing.

As such, reserve requirement ratio cuts rarely come in isolation and more are likely soon, probably as early as next month, confirmed Andrew Robinson, FX Analyst, Saxo Capital Markets. He said the timing of this easing has to do with the flow of data of late which has pointed to a slowing in the economy and that it was acknowledgement of this situation. Furthermore it pre-empted the latest purchasing manager index data which confirmed a contraction scenario for the economy.

Commenting on the recent data from China, Andrew said: "Last month's data was looking particularly soft and the expectations for this month are not particularly encouraging. If we look at the data that's been coming out recently, it's certainly suggesting that the market is slowing down.

"I think this is a pre-emptive move by the PBOC and they're looking to continue it and build the economy."

The focus in the coming days will now shift to inflation data with more declines in the consumer price index and an even greater drop in the purchasing prices index seen. Combined, this confirmation of a softening in price pressure effectively removes a hurdle the People's Bank of China was facing in terms of the freedom to continue to ease monetary policy.

The video can be viewed at http://www.tradingfloor.com/blogs/macro-ad-hoc/more-chinese-easing-as-price-pressure-abates-removing-pboc-hurdle-1126984016, with many other forex videos available on the Saxo Bank site.

Saxo Bank releases new Asian Focus video

Thu, 03 Nov 2011 14:43:23 GMT

Saxo Bank has released new Asian Focus video featuring Andrew Robinson, correspondent for Saxo Capital Markets, analysing the effect of the Bank of Japan's latest yen intervention and the sustainability of further actions before year end. He also commented on the Reserve Bank of Australia's decision to cut rates, the first flow of PMI data in Asia and the noise surrounding the Chinese leader's visit to Europe this week.

Japan's Finance Minister Jun Azumi put his money where his mouth was with unilateral intervention to weaken the yen. This is the third intervention this year with estimates suggesting it is the largest one of the three. So far it has had the intended effect with the USDJPY holding at around the 78.0 level. History however shows that it could be a longer term struggle to keep it there as after the previous two interventions this year it took only about five days for the rate to drop back to pre-intervention levels. Concerning other action it is unlikely the Bank of Japan will instigate other measures like a trading floor for the pair, similar to the Swiss National Bank’s action, Andrew said.

The timing of the intervention ahead of the Group of 20 leaders initially took the market by surprise but in hindsight as Finance Minister Azumi had in recent weeks spoken almost daily about the problem of the strong yen it was ultimately only a matter of time before the Bank of Japan took action.

Meanwhile the Reserve Bank of Australia cut the official interest rate by 25 basis points for the first time since April 2009. Whether this is the beginning of a whole series of cuts or just a one-of is another story though and will depend largely on the development of the local economy and the degree of uncertainty globally. How effective the passing on of the cut by commercial banks to consumers will be on their spending behaviour will also remain to be seen.

Monthly Purchasing Managers Index data in the Asian region paints a mixed picture about the health of the manufacturing sectors with most attention on China and somewhat different stories being told by the official Chinese data and private sector equivalent report.

China is also drawing attention from its leader Hu Jintao's visit to Europe during the lead up to the G-20 summit. Expectations are increasing that China will commit to supporting the European Financial Stability Facility but any announcement is hardly likely to occur before the G-20 meeting.

Further information and additional forex videos can be found at videos.saxobank.com.

About Saxo Bank:
Saxo Bank is a leading online trading and investment specialist, enabling clients to trade forex, CFDs, Stocks, Futures, Options and other derivatives. The three specialised and fully integrated trading platforms; the browser-based SaxoWebTrader, the downloadable SaxoTrader and the SaxoMobileTrader application are available in over 20 languages. Saxo Asset Management accommodates high-net worth private clients and institutional investors. In 2011 Saxo Bank continued the diversification of its business and launched Saxo Privatbank. The Saxo Bank Group is headquartered in Copenhagen with offices throughout Europe, Asia, Middle East, Latin America and Australia.

Saxo Bank releases new video commenting on Eurozone meetings and Greek referendum

Thu, 03 Nov 2011 11:06:36 GMT

Saxo Bank has released a new macro view video featuring Steen Jakobsen, Chief Economist, Saxo Bank, taking a look at the expectations for three key meetings this week: the Federal Open Market Committee, the European Central Bank and the Group of 20 leaders. He also addresses the implications of Greece's surprise referendum on its aid package and austerity programme.

Jakobsen commented that the G-20 meeting (November 3-4) needs to deliver actions rather than more supportive talk for the troubled Eurozone. Focus will be on the announcement of concrete financial measures of commitment via the International Monetary Fund in order to appease the prevailing uncertainty.

This uncertainty was exacerbated by Greece's call for a referendum on its new aid package and austerity measures, thereby possibly threatening European leaders' attempts last week to secure the Eurozone's future.

Prior to G-20 the Federal Open Market Committee meets. Despite a spate of moderately encouraging US data of late the committee is expected to merely confirm a supportive wait and see approach and possibly only allude to a third round of Quantitative Easing.

The European Central Bank meeting, also this week, which is the first to be chaired by the new President Mario Draghi will be interesting to watch to see if he already now cuts rates and thereby reverses the apparent error of his predecessor.

Jakobsen commented that being Italian and with much focus on his troubled homeland, there is an expectation that Draghi will be even tougher on ensuring that Italy shapes up, particularly considering a disappointing bond auction last week which indicates the increasing problem Italy has in financing its debt.

The full video, as well as other forex videos, can be found at video.saxobank.com.

About Saxo Bank:
Saxo Bank is a leading online trading and investment specialist, assisting clients in forex trading, CFDs, Stocks, Futures, Options and other derivatives. The three specialised and fully integrated trading platforms; the browser-based SaxoWebTrader, the downloadable SaxoTrader and the SaxoMobileTrader application are available in over 20 languages. Saxo Asset Management accommodates high-net worth private clients and institutional investors. In 2011 Saxo Bank continued the diversification of its business and launched Saxo Privatbank. The Saxo Bank Group is headquartered in Copenhagen with offices throughout Europe, Asia, Middle East and Australia.

TradingFloor.com releases video on the Federal Open Market Committee meeting

Wed, 21 Sep 2011 17:20:55 GMT

TradingFloor.com, the home of Saxo Bank's trading commentary, financial research and analysis, has released a video discussing the Federal Open Market Committee meeting (FOCM).

With the deterioration in the US economic outlook being further cemented by recent disappointing macro data, there is now mounting expectation that the Federal Reserve will once again come to the rescue and kick-start the world's largest economy. Therefore, all eyes are set to be on the latest Federal Open Market Committee meeting and what will or won't be decided in terms on new monetary stimulus.

The latest FOCM meeting has been extended to a two day meeting to allow for further discussions. The last meeting saw an extension of low rates until 2013, and Steen Jakobsen, chief economist at Saxo Bank, believes that the next step will be an Operation Twist Light.

Back in the 60s, The Operation Twist, meant that people sold short term bonds and bought long term bonds, which was seen as a twist, hence the name. This time this will not be possible, because the rates have already been lowered. This means only the long end part of the equation will be executed, with long term bonds being bought. However, Steen doesn't think this will be a lot for the market in the long term.

This alone is not going to be enough to turn it around. Steen believes that the market always likes to be promised something new, which means President Obama will need to balance the delivery of the Operation Twist Light and throw in something new as well.

Steen also comments that the situation in Europe will have an effect on the timing of any announcements from the US. While it is clear that the US realise the situation in Europe is not good for the US, Steen believes that the Federal Reserve will ultimately do what is the best for the US.

About TradingFloor.com:
TradingFloor.com is the web portal home of Saxo Bank's trading commentary, financial research and analysis.

TradingFloor.com's diverse contributors who range from macroeconomists to trading advisors, all strive to deliver insightful, enlightened commentary on trading in the financial markets - particularly on forex and forex trading, equities, stocks and commodities. Tradingfloor.com also publishes periodical model-based research and analysis to help longer-term traders allocate funds between and within asset classes.

TradingFloor.com's commentary and analysis is delivered in text and video via the website, where users can watch forex videos and receive information on products such as CFDs.

The website is also embedded in all Saxo Bank's trading platforms. Users can also subscribe to content from TradingFloor.com, or from their favorite contributor, via RSS feed or via Twitter.

TradingFloor.com releases video on meeting of global central bankers

Thu, 25 Aug 2011 11:36:49 GMT

TradingFloor.com, the home of Saxo Bank's trading commentary, financial research and analysis, has released a video discussing the important meeting of a number of global central bankers at Jackson Hole in the U.S.

The state of the economy and the more active role of central banks to help rectify this means that investors are keenly interested in the fact that a number of global central bankers are meeting in Jackson Hole. There is also a lot of interest in what Federal Reserve Chairman Ben Bernanke will or won't say when he addresses the meeting in a press conference.

Steen Jakobsen, chief economist, Saxo Bank, discusses his views on the market expectations and what the likely outcome of this meeting will be in TradingFloor.com's latest video 'Constructive Jackson Hole solution or more of the same?'

Last year, during the same meeting in a mountainside retreat, Ben Bernanke surprised everyone by announcing a second round of Quantitative Easing. With concerns about a double dip recession rising, people are expecting a big announcement this time around too. Steen Jakobsen believes that the main objective of Bernanke's press conference will be to avoid "Japanisation", which is a deflationary environment with low growth and low interest rates through more of the same monetary policy.

Recent data also suggests that the U.S. economy is going to need some sort of help in the form on intervention in the fourth quarter. Steen believes that even though quarter two was a failure, Bernanke will continue to defend the easing concept, despite his reputation is on the line. Bernanke is expected to claim that without the easing concept, the situation would have probably ended up being much worse.

A press conference by Jean-Claude Trichet the European Central Bank President, will follow that of Bernanke. He is also expected to defend the bank's previous actions in raising rates, despite receiving heavy criticism that this was out of sync with the rest of Europe.

Steen states that the hope is that Trichet will now come up with some real solutions for the Eurozone's economic problems. This should hopefully mean the Eurozone will lean more towards solidarity and consolidation, thus getting rid of the pointless political battles which have been making the problems worse.

About TradingFloor.com:
TradingFloor.com is the web portal home of Saxo Bank's trading commentary, financial research and analysis.

TradingFloor.com's commentary and analysis is delivered in text and video via the website, where users can watch forex videos and receive information on products such as CFDs.

The website is also embedded in all Saxo Bank's trading platforms. Users can also subscribe to content from TradingFloor.com, or from their favorite contributor, via RSS feed or via Twitter.

TradingFloor.com releases video on the Swiss Franc dilemma

Fri, 19 Aug 2011 09:51:56 GMT

TradingFloor.com, the home of Saxo Bank's trading commentary, financial research and analysis, has released a video discussing the current dilemma involving the Swiss Franc.

The Swiss Franc has appreciated of late, and therefore so has the focus of what the Swiss Bank and the Swiss government will do to curb this strength, as it is hurting businesses and therefore the Swiss economy.

One of the steps which have been discussed the most is a peg to the Euro; however this is yet to happen, despite much speculation. With the attempts to weaken the currency's strength possibly only providing temporary relief, it is seen as only a matter of time before more extreme measures, such as a peg to the Euro, are taken.

Ken Veksler, senior manager, Trading Advisory at Saxo Bank discusses his opinions on the likelihood of a peg to the Euro and the effect the Swiss Franc dilemma is having on the Swiss economy.

Veksler believes that a peg to the Euro is an extreme measure, and the likelihood of that happening is fairly minimal. There was a successful attempt made in 1978, where the Swiss Franc was pegged to the German Deutschmark for around 18 months, however, Veksler thinks it will be unlikely that this extreme measure will be taken again, even though the scare in the market in recent days and weeks has made it more of a serious topic than previously thought.

The Swiss government would be unhappy to put a peg to the Euro in place because it would mean a loss of its position as an independent state within a wider UN zone, which they have prided themselves on for quite some time.

Veksler believes that if the peg did come into place the Swiss Bank would have to revert to printing money to allow themselves adequate reserves to put this sort of action into place. However, this is more of a band aid for the problem rather than a full term solution.

About TradingFloor.com:
TradingFloor.com is the web portal home of Saxo Bank's trading commentary, financial research and analysis.

TradingFloor.com's commentary and analysis is delivered in text and video via the website, where users can watch forex videos and receive information on products such as CFDs.

The website is also embedded in all Saxo Bank's trading platforms. Users can also subscribe to content from TradingFloor.com, or from their favorite contributor, via RSS feed or via Twitter.

TradingFloor.com releases video on EBC interest rate hike

Fri, 08 Apr 2011 16:07:54 GMT

TradingFloor.com, the home of Saxo Bank's trading commentary, financial research and analysis, has released a video discussing the recent interest hike and the bailout of Portugal.

The European Central Bank (ECB) raised its benchmark interest rate by 25 basis points and although expected, it was the first increase in almost three years. It came less than a day after Portugal asked for help to deal with its debt. Now the focus is on what weighs more heavily upon the shoulders of the ECB - the threats to economic growth of more rate increases as Greece, Ireland and now Portugal continue their financial struggle or the risks of surging costs leading to entrenched inflation. In the video, Mads Koefoed, macro strategist at Saxo Bank discusses these issues.

Firstly, Mads discusses the comments made by the ECB president after the interest rate was raised. The ECB had originally stated that there would be another four further interest hikes this year, but in his comments after the 25 basis points hike, the president said that people should not except this hike to be one of a series of hikes. Mads believes that four more hikes would not be the best idea, as the economy is not that strong, and it is only really the German economy that is supporting the Eurozone. Mads predicts another hike will be announced around June or July 2011 as inflation trends higher, but it is not yet at a level where the ECB will have to raise rates every time they meet.

Next Mads discusses the recent bailout of Portugal. The bailout has been expected for a while, and while there are no official figures as yet, it looks as though Portugal could be asking for around 80 billion Euros, which is about the same amount as Ireland received. Mads comments that the ECP is sending a strong signal that it didn't seem to care about Portugal as it raised interest rate even though it was evident that Portugal was going to require bailout. The ECP's main focus is inflation, and as long as it is only small economies that aren't doing so well in Eurozone, the ECP are unlikely to bother. However, Mads points out that they may start to pay attention if countries like Spain begin to suffer.

About TradingFloor.com:
TradingFloor.com is the web portal home of Saxo Bank's trading commentary, financial research and analysis.

TradingFloor.com's commentary and analysis is delivered in text and video via the website, where users can watch forex videos and receive information on products such as CFDs.

The website is also embedded in all Saxo Bank's trading platforms. Users can also subscribe to content from TradingFloor.com, or from their favorite contributor, via RSS feed or via Twitter.

Saxo Bank presents an acquisition offer to Euroinvestor.com

Tue, 05 Apr 2011 15:06:32 GMT

Saxo Bank A/S has announced that it has acquired 2.655.959 shares of Euroinvestor.com A/S from JCA Holding ApS and 2.472.789 shares in Euroinvestor.com from Soeren Alminde Holding ApS.

In total, Saxo Bank A/S has acquired 5.128.748 shares. The shares have been acquired on equal terms from the two sellers at a price of DKK 15 pr. share. Saxo Bank will now have a total of 69 percent of the shares in Euroinvestor.com and will thereby have acquired control of the company.

In accordance with chapter 8 in the security trading law in Denmark, Saxo Bank A/S will present a takeover offer to the shareholders in Euroinvestor.com A/S at the latest four weeks from today.

Since the beginning of 2009, Saxo Bank A/S has been working in cooperation with the two majority shareholders of Euroinvestor.com A/S and will now take over control of Euroinvestor.com A/S. Going forward, Saxo Bank A/S intends to focus on product development as well as explore the company’s international expansion opportunities.

Saxo Bank A/S intends to keep Euroinvestor.com A/S listed as a publicly traded company on NASDAQ OMX Copenhagen.

About EuroInvestor.com:
EuroInvestor.com has more than 500,000 visitors a month and over 4,500 plus members who use the portal to make better investments. Its major success in Denmark caused EuroInvestor.com to launch portals in other countries in February 2004. The proportion of users in these countries has been on the rise ever since.

About Saxo Bank:
Saxo Bank is an online trading and investment specialist, enabling clients to trade Forex, CFDs, Stocks, Futures, Options and other derivatives, as well as providing portfolio management via SaxoWebTrader and SaxoTrader, the leading online trading platforms . The three specialised and fully integrated trading platforms; the browser-based SaxoWebTrader, the downloadable SaxoTrader and the SaxoMobileTrader application are available in over 20 languages. Saxo Asset Management accommodates high-net worth private clients and institutional investors. In 2010 Saxo Bank continued the diversification of its business with acquisitions of Saxo-E*Trade Bank, a specialist in online investment, and Brørup Sparekasse, a Danish savings bank. The Saxo Bank Group is headquartered in Copenhagen with offices throughout Europe, Asia, Middle East and Australia.

TradingFloor.com releases video on the Irish economy

Mon, 04 Apr 2011 14:20:16 GMT

TradingFloor.com, the home of Saxo Bank's trading commentary, financial research and analysis, has released a video discussing the current economic situation in Ireland.

It’s shaky days for the banking sector in Ireland following the results of the Irish Central Bank’s stress tests of four lenders showing they need an extra 24 billion Euros, plus an overhaul, taking the total bill for bailing out Irish banks so far to about 70 billion Euros. Ireland’s finance minister has presented a plan to restructure the banking sector but the question is whether this will be enough in the long run to keep the beleaguered banks operable and to restore confidence in the Irish financial sector as a whole. Steen Jakobsen, chief economist for Saxo Bank gives his views on the Irish banking situation and some insight into what implications if any it has on the Eurozone and the Euro.

Steen discusses that it is extremely difficult to be a bank in Ireland today due to the fact that they are borrowing the same amount of money as they have coming in right now, and it is a very difficult thing to ensure so much capital is coming in on daily basis. The Irish finance minister believes that merging the banks may be the best way forward from both a practical and political point of view as it should make them stand stronger. However, Steen points out it may not create complete transparency and may just create two groups to deal with instead of four.

Steen also discusses what implications the current economic state of Ireland could have on the banking sector as a whole. The Irish banks have been forced to re-evaluate their assets at 56% of the original value, and if this was to happen to the entire banking sector it would see it going bankrupt. However, Steen points out that the Irish may be being too harsh in their assessment or the EU may be too conservative in theirs, so this may not be the case. Steen believes the EU will continue to fund banking and the banking crisis as banking is seen as an integral part of the economy and the recovery.

Finally, Steen comments on what effect this could have on the Euro. Steen believes that as long as the problem remains contained to Ireland, Portugal and Greece it will not be perceived as a huge problem. As long as Spain in not involved in the crisis, people will not view it as a European risk.

About TradingFloor.com:
TradingFloor.com is the web portal home of Saxo Bank's trading commentary, financial research and analysis.

TradingFloor.com's commentary and analysis is delivered in text and video via the website, where users can watch forex videos and receive information on products such as CFDs.

The website is also embedded in all Saxo Bank's trading platforms. Users can also subscribe to content from TradingFloor.com, or from their favorite contributor, via RSS feed or via Twitter.

Trading Floor.com releases a video on the Yen

Fri, 18 Mar 2011 14:42:45 GMT

TradingFloor.com, the home of Saxo Bank's trading commentary, financial research and analysis, has released a video discussing the current strength of the Yen and what impacts it will have on the Japanese economy.

Drop everything and run has been the general strategy for both people in Japan and to a certain extent investors in Japanese stocks, who have been nervously watching from outside since the massive earthquake and tsunami rocked the world’s third-largest economy. The subsequent nuclear power disruptions and resultant crisis have exacerbated the situation into a seek cover mode. In the video Ken Veksler, Senior Manager at Trading Advisory, discusses the current economic situation in Japan.

Firstly, Ken discusses why the Yen has actually strengthened when the rest of the country is in crisis and both local people and investors are running for cover. Traditionally Japan and the Japanese government bonds have always been seen as something of a safe haven in the last 10 to 15 years; therefore it doesn't come as much of a shock that there is so much interest in the Yen despite the recent event. What Ken does find surprising is the fact that the stock market has fallen and practically crashed, whereas the currency, which is the barometer of the countries health, now seems to be so strong.

Ken also discusses what might happen to the Japanese economy if the crisis continues to get worse. He points out that a strong currency is good for any country but if it continues to rise this could mean exports are more expensive and they may not be a lot of demand or productivity due to the earthquake. However, this strength is unlikely to continue, while Ken doesn't predict an extreme return in the other direction, he does say the strengthening of the Yen will die down.

Finally, Ken discusses how the Bank of Japan is coping with the current crisis. The Bank of Japan is currently putting liquidity into the market in a bid to show that they are on top of the situation and they are doing their best to keep the Japanese economy in a comfortable place.

About TradingFloor.com:
TradingFloor.com is the web portal home of Saxo Bank's trading commentary, financial research and analysis.

TradingFloor.com's commentary and analysis is delivered in text and video via the website, where users can watch forex videos and receive information on products such as CFDs.

The website is also embedded in all Saxo Bank's trading platforms. Users can also subscribe to content from TradingFloor.com, or from their favorite contributor, via RSS feed or via Twitter.

Saxo Bank video looks at post-quake Japanese investment opportunities

Thu, 17 Mar 2011 10:54:53 GMT

Saxo Bank has released a new Equity Focus video featuring the company's Equity Strategist Peter Garnry. The video looks at what the possible implications for investors interested in the Japanese stock market are in the short and long-term, with the total impact and cost of the massive earthquake in Japan, related tsunamis and nuclear crisis still unclear. The Bank of Japan has introduced a series of policy easing measures but there is still doubt that this will be enough to create market stability in the Japanese stock market.

Comparing Japan's current situation to the state of the country's market following the huge earthquake which occurred in the city of Kobe in 1995, Peter Garnry commented that the stock market remained steady in the days following that disaster but people underestimated its effects and within four months the market had fallen by 25%. When asked whether this was due to the Kobe earthquake hitting a large industrial area of Japan rather than the coastal areas devastated by the recent quake (although some car manufacturing and electronics plants were forced to stop production) Garnry replied that the effect on the market will only be known in the coming months. He also stated that the aftermath of the earthquake could be a great opportunity for many investors to be exposed to Japanese stocks and subsequently invest in them.

With the current disaster coming on top of an already exorbitant national debt status there are increased concerns that the Japanese economy could be pushed back into recession. Meanwhile, major Japanese exporters are being hurt by forced shutdowns due to power shortages, while the yen, at least for now, is supported by the Bank of Japan's massive liquidity injection into the banking system. As it's still early days there's a chance that just a few months down the road the impact on Japan's economy and currency might be somewhat different and this could result in some interesting investment opportunities in large Japanese export driven stocks.

Saxo Asset Management accommodates high-net worth private clients and institutional investors. In 2010 Saxo Bank continued the diversification of its business with acquisitions of Saxo-E*Trade Bank, a specialist in online investment, and Brørup Sparekasse, a Danish savings bank.

The Saxo Bank Group is headquartered in Copenhagen with offices throughout Europe, Asia, Middle East and Australia.

About Peter Garnry:
Peter Garnry is an Equity Strategist at Saxo Bank. In his work, Peter uses a balance of approaches to thoroughly analyse modern complex equity markets.

TradingFloor.com releases video on Chinese economy

Mon, 07 Mar 2011 16:54:59 GMT

TradingFloor.com, the home of Saxo Bank's trading commentary, financial research and analysis, has released a video discussing China's economy and what effect the recent disaster in New Zealand will have on the economy there.

Recent data in China has suggested that the world's second-largest economy might be slowing down. Meanwhile, an interest rate cut in New Zealand is on the cards to boost earthquake recovery and overall economy. In the video Andrew Robinson, FX analyst for Saxo Capital Markets, discusses the economic outlook for both China and New Zealand in the coming months.

Firstly, Andrew discusses the general economy and outlook in China at the moment. Recent Purchasing Managers' Index (PMI) data out of China was a bit of a surprise. As PMI data in the Western world continues to surprise to the upside, China has had its third contraction in the manufacturing sector in three months. It has also seen the pace of increase at its slowest in six months. However, Andrew points out that the timing of Chinese New Year has probably had some impact on these figures, as most of the service sector shuts down for a week during the New Year celebrations. Overall, there is a warning that while the Chinese economy has had a good run, it may be facing some tougher times ahead.

Andrew also discusses the latest five year plan to be published by the Chinese government. One the main problems with China's five year plans is that they are broken every single time. The last plan which covered the 2005 to 2010 period had a target of around 7.5% Gross Domestic Product (GDP) growth, but the slowest growth that was seen during those five years was 9.2%. Therefore, Andrew believes it will be hard for them to achieve a slower and more sustainable growth, even though it presents itself as a good idea.

Finally, Andrew discusses the recent earthquake in New Zealand, and the economic effect it is having. There are currently talks of rate cuts to help pay for the 20% of GDP bill for recovering from the recent earthquake. Andrew points out that the short-term economic impact on New Zealand is obviously very negative, but once the rebuilding programme starts, there will be quite a positive GDP input. Overall, Andrew believes that this will be enough to set Christchurch and the New Zealand economy back on the right footing.

About TradingFloor.com:
TradingFloor.com is the web portal home of Saxo Bank's trading commentary, financial research and analysis.

TradingFloor.com's commentary and analysis is delivered in text and video via the website, where users can watch forex videos and receive information on products such as CFDs.

The website is also embedded in all Saxo Bank's trading platforms. Users can also subscribe to content from TradingFloor.com, or from their favorite contributor, via RSS feed or via Twitter.

TradingFloor.com releases video on German and Irish politics

Wed, 23 Feb 2011 15:14:11 GMT

TradingFloor.com, the home of Saxo Bank's trading commentary, financial research and analysis, has released a video discussing the current political situation in Germany and Ireland, as well as the current sovereign debt.

The current political situation in Ireland and Germany is particularly in focus, with financial issues in Japan and the UK also being discussed. In the video Mads Koefoed, macro strategist at Saxo Bank's TradingFloor.com discusses these issues in more detail.

Firstly, Mads discusses the current political situation in both Germany and Ireland. Earlier in the week saw Chancellor Angela Merkel receive a disappointing result in the Hamburg elections, which saw her party losing roughly half the vote, according to the exit polls. This meant that the social democrats gained around half the vote, meaning they are now a majority all by themselves. Mads comments that this is surprising considering it happened in such an affluent region of Germany, where he would expect Merkel's party to have the upper hand. Mads also comments that the result could be due to many Germans being angry that they are having to foot the bill for bailing out other countries in the Eurozone, though there will need to be a few more regional results before this can be proved true.

The results of the Irish elections will also prove important, as whoever wins could decide to leave the bailout programme that was agreed by the previous government. However, parties such as Labour and Fine Gael look as though they will stay in the bailout programme instead of restructuring the county's debt. A new bailout front is likely to come into existence in the March summit, which should mean lower interest rates for countries that have been bailed out, and this will be more agreeable to countries such as Ireland.

Furthermore, Mads discusses Moody downgrading the debt in Japan. Mads comments that he does not believe this will have any major effect on the market. Japan and other countries are on unstable trajectories because they are borrowing too much and while Japan once had wealthy domestic buyers who were buying their debt, but those are mostly disappearing now. There is also a lack of savers in Japan, meaning it has to increasingly turn to foreign buyers.

Finally, Mads touches on other events that are happening across the world. He mentions important events such as the unrest in Libya and the recent earthquake in New Zealand, but focuses on the upcoming minutes from the latest Bank of England meeting. While inflation continues to remain elevated in the UK, the rises constantly have to be justified to the Treasury to ensure they remain that way. However, the minutes from the meeting may reveal whether the recent rises are going to stay the same, or whether we may see them change in the coming months.

About TradingFloor.com:
TradingFloor.com is the web portal home of Saxo Bank's trading commentary, financial research and analysis.

TradingFloor.com's commentary and analysis is delivered in text and video via the website, where users can watch forex videos and receive information on products such as CFDs.

The website is also embedded in all Saxo Bank's trading platforms. Users can also subscribe to content from TradingFloor.com, or from their favorite contributor, via RSS feed or via Twitter.

TradingFloor.com releases video on European growth

Thu, 17 Feb 2011 11:16:36 GMT

TradingFloor.com, the home of Saxo Bank's trading commentary, financial research and analysis, has released a video discussing the current European growth.

The European growth situation is particularly in focus, with quite a bit of key macro data being published which is expected to confirm the 'growth story'. In the video Mads Koefoed, macro strategist at Saxo Bank's TradingFloor.com discusses the growth in Europe and in the U.S.

Mads first discusses Eurozone industrial production in addition to the Eurozone and some individual members' GDP reports. The industrial production numbers of -0.1% were a little below consensus expectations but above TradingFloor.com's expectations of -0.4%. Even though the numbers had declined, the manufacturing sector is still growing strongly in the Eurozone. The declining numbers are thought to be attributed to the very strong November numbers, which saw industrial production rising 1.4% month on month, so some give back is it to be expected in December's numbers. The very poor weather in December will also have had some affect on production numbers. Mads expects the numbers to improve for January.

The overall GDP reports were also fairly good and what was expected. Countries like Spain performed better than expected with a result of 2% up. With Germany continuing to drive the Eurozone, Mads predicts a fairly robust growth in the Eurozone in the fourth quarter.

Furthermore, also in focus is a meeting of Europe's Finance Ministers and any indications of increasing the debt stability of southern Eurozone members. While Mads does not foresee much news coming out of the event, he does foresee them discussing the Germany and France proposal to put in place a measure against debt increase to hopefully ensure a more harmonized corporate tax system in the Eurozone, despite other leaders not being completely behind this.

Finally, in the U.S. there are also some interesting growth indicative numbers, plus the Federal Reserve’s Federal Market Open Committee minutes will be published. Mads points out that the minutes from the meeting are likely to be interesting as they should give an indication of the newly updated growth estimates, inflation estimates and the unemployment rate forecast.

About TradingFloor.com:
TradingFloor.com is the web portal home of Saxo Bank's trading commentary, financial research and analysis.

TradingFloor.com's commentary and analysis is delivered in text and video via the website, where users can watch forex videos and receive information on products such as CFDs.

The website is also embedded in all Saxo Bank's trading platforms. Users can also subscribe to content from TradingFloor.com, or from their favorite contributor, via RSS feed or via Twitter.

TradingFloor.com is owned and managed by Saxo Bank A/S. Saxo Bank is a fully licensed and EU-regulated international investment bank, headquartered in Copenhagen, Denmark. Founded in 1992, Saxo Bank has risen to become a leading international investment bank and Internet trading provider to both private and institutional investors.

TradingFloor.com releases video on the German economy

Mon, 14 Feb 2011 15:35:34 GMT

TradingFloor.com, the home of Saxo Bank's trading commentary, financial research and analysis, has released the video 'Why the German economy continues to outperform in Eurozone'.

Despite a minor correction in industrial orders in December, the German economy continues to stand out from the rest of the Eurozone members in terms of growth. In the video Mads Koefoed, macro strategist at Saxo Bank's Tradingfloor.com, discusses the performance of Europe's largest economy versus the 16 other Eurozone members.

Mads Koefoed discusses two main reasons why he believes the Germany economy is continuing to outperform other countries in the Eurozone. Germany is turning part of its foreign exports away from other countries in the Eurozone and towards Asia. While Germany still continues to do a lot of trade within the Eurozone, by turning to Asia, where more solid growth is taking place, it is doing better than other Eurozone countries that have not moved some of their trade overseas.

Southern countries such as Spain, Portugal and Italy have also seen higher cuts on public spending than have happened in Germany, meaning Germany should recover much stronger.

Mads is optimistic that the economic growth of Germany will continue throughout 2011 and hopefully into 2012, because while Germany is cutting costs, it is not doing it as harshly as other countries.

Northern areas of the Eurozone such as the Netherlands and France are expected to catch up with Germany first, though it looks doubtful whether the southern countries will make real advance any time soon. Mads mentions that other countries outside of the Eurozone, such as the UK, should catch up fairly quickly as well. While the UK may see a weak first half due to the rise in VAT and the public spending cuts, the second half of 2011 should see a strong rebound.

The Eurozone economy video is available to view on the Saxo Bank TradingFloor website.

About TradingFloor.com:
TradingFloor.com is the web portal home of Saxo Bank's trading commentary, financial research and analysis.

TradingFloor.com's diverse contributors who range from macroeconomists to trading advisors, all strive to deliver insightful, enlightened commentary on trading in the financial markets - particularly on forex, equities, stocks. Tradingfloor.com also publishes periodical model-based research and analysis to help longer-term traders allocate funds between and within asset classes.

TradingFloor.com's commentary and analysis is delivered in text and video via the website. The website is also embedded in all Saxo Bank's trading platforms. Users can also subscribe to content from TradingFloor.com, or from their favorite contributor, via RSS feed or via Twitter.

Saxo Bank re-launches ForexTrading.com

Tue, 10 Aug 2010 09:29:05 GMT

Saxo Bank, the specialist in online trading and investment, has re-launched its website www.ForexTrading.com to provide a simple entry point to anyone looking to become a forex trader and to be a useful resource for foreign exchange traders, or others, interested in the trading of currencies.

The redesigned ForexTrading.com website will focus on providing visitors with all the information necessary for traders like topical forex market information, news and analysis from Saxo Bank and third parties, and on forex education using Saxo Bank's TradeMentor program and comprehensive financial glossary. The ever-popular free forex charting widget will also remain on the website too.

"ForexTrading.com is already a successful domain, attracting large numbers of new and returning visitors. The new version of ForexTrading.com augments the popular forex trading information and analysis of the old site with much more content from Saxo Bank and third parties," said Hugh Taggart, head of research & analysis tools at Saxo Bank."

"Visitors to ForexTrading.com are often there just to learn how to trade forex or to see the latest forex quotes, news and analysis. This version of the website answers those needs concisely and provides a link to opening a trial or live account with Saxo Bank," he added.

In addition to providing some third party content in the 'What's Hot' section of the site, ForexTrading.com will also feature content taken from the main Tradingfloor and Saxobank websites.

About Saxo Bank
Saxo Bank is an online trading and investment specialist, enabling clients to trade forex , CFDs, stocks, equities, futures, options and other derivatives, as well as providing portfolio management via SaxoWebTrader and SaxoTrader, the leading online trading platforms. SaxoTrader is available directly through Saxo Bank or through one of the Bank's institutional clients. White label is a significant business area for Saxo Bank, and involves customising and branding of the Bank's online trading platform for other financial institutions and brokers. Saxo Bank has more than 120 white label clients and boasts thousands of retail clients in over 160 countries. Saxo Bank is headquartered in Copenhagen with offices in Australia, the Czech Republic, France, Greece, Italy, Japan, the Netherlands, Singapore, Spain, Switzerland, UK, and the United Arab Emirates.

Saxo Bank launches new video channel for Forex and equity programmes

Fri, 21 May 2010 10:41:00 GMT

Saxo Bank, the specialist in online trading and investment, is launching a new one-stop video site for its market commentary, interviews and educational programmes.

The Bank produces many hours of financial news and analysis from its own state-of-the-art studio at its head office in Copenhagen, Denmark. The studio is in daily use by Saxo Bank’s team of analysts providing comments to international and local TV stations such as CNBC and Bloomberg.

Videos for Saxo Bank’s websites have been hosted by Saxo Bank using third-party servers and are shown on several websites within Saxo Bank and sharing sites such as YouTube. The new video site uses a web-TV platform from 23Video, a Danish web start-up.

"Video is becoming increasingly important as a way of reaching investors with commentary on the markets and educational programmes for traders that are new to online markets," said Dinis Guarda, Global Head of SEO and Social Media Strategy at Saxo.

"We have been running a weekly Forex and equities update since May last year and have produced around 250 trading strategy videos featuring interviews with Saxo Bank’s analysts for the www.tradingfloor.com website," he added.

"The new platform allows us far more flexibility when sharing that content and finding new uses for it. We can also measure the response to our videos far more accurately with the new platform."

Saxo Bank will continue to showcase its content on other video sharing sites. Content from Trading Floor is featured on the Reuters Insider video site launched on May 11.

The new platform features content from Trading Floor, Saxobank and Trading Floor's two Spanish language sister sites - SaladeInversion.es and SaladeInversion.com - with news and interviews from Team Saxo Bank cycling team published on saxobanktakingthelead.com.

About Saxo Bank
Saxo Bank is an online trading and investment specialist, enabling clients' Forex Trading and CFD Trading as well as Stocks, Futures, Options and other derivatives, as well as providing portfolio management via SaxoWebTrader and SaxoTrader, the leading online trading platforms. SaxoTrader is available directly through Saxo Bank or through one of the Bank's global partners. White label is a significant business area for Saxo Bank, and involves customised and branding the Bank's online trading platform for other financial institutions and brokers. Saxo Bank has more than 120 white label partners and boasts thousands of clients in over 180 countries. Saxo Bank is headquartered in Copenhagen with offices in Australia, China, the Czech Republic, France, Greece, Italy, Japan, the Netherlands, Singapore, Spain, Switzerland, UK, and the United Arab Emirates.

Saxo Bank on track with sound results for 2009

Fri, 09 Apr 2010 16:15:15 GMT

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.

About Saxo Bank
Saxo Bank is an online Futures, Forex trading, and CFD trading and investment specialist. The bank enables clients to trade Stocks, Options, Forex, CFDs and other derivatives via SaxoWebTrader and SaxoTrader, th

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