Saxo adds futures trading with Refco
Danish investment bank Saxo Bank has added futures coverage to SaxoTrader, its online trading platform, as part of a partnership with Refco Overseas, the European arm of New York-based Refco Group.
Both SaxoTrader and Refco Market Access now offer trading for foreign exchange - spot, forwards and options - equities, contracts-for-difference and futures. Saxo has also offered to add futures to the platform it has white-labelled to 24 other partners.
Futures trading on SaxoTrader and Refco Market Access is limited to market and limit orders due to the limitations of exchanges to accept other order types electronically, said Lars Christensen, Saxo's co-chief executive officer in Copenhagen. But Saxo is building its own order management system that will allow users to pass other order types, such as good-till-cancel, to Saxo Bank, which will then input the order to the exchange manually, he said.
Saxo Bank provides its platform to Refco Overseas without any licence, upgrade or hosting fees, but takes an undisclosed share of the revenue based on trading volumes. Refco provides distribution and customer service.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact info@risk.net to find out more.
You are currently unable to copy this content. Please contact info@risk.net to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@risk.net
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@risk.net
More on Markets
China stimulus creates hedging headaches for HK warrants
Dealers say options liquidity issues during Hang Seng’s rollercoaster ride made the products tricky to risk manage and price
Low FX vol regime fuels exotics expansion
Interest is growing in the products as a way to squeeze juice out of a flat market
Currenex loses US court bid to reveal XTX trade secrets
Judge also rules the venue must reveal its own matching code in class action case
Intraday FX swaps could signal new dawn for liquidity management
Seedling market could help banks pre-fund payments in near-real time and reduce HQLA requirements
Isda calls for India IM delay
Rules for third-party custodians still to be finalised less than one month before initial margin rules go live
FSB exec dismisses leverage cap proposals for NBFIs
Tackling excessive leverage requires a nuanced approach instead of a broad cap, says Martin Moloney
US jobs shock leads to steepener unwinds
Rates investors caught out after October jobs surprise
Goldman Sachs retakes top FXO dealer spot with mutual funds in Q2
Counterparty Radar: Trades with SEI Investments boosts US bank to top spot