Profit & Loss readers cast large numbers of votes this year for their preferred market makers and service providers.
Last year was the first that we changed the category description from banks to market makers to account for the larger proportion of non-banks that now comprise an important part of market making, and this is again reflected in the results. The industry’s changing dynamics are starting to show.
Voting, which spanned across time zones, was close in many categories, so we have listed the top three for each category to acknowledge the runners up.
Saxo Bank has announced the appointment of Damian Bunce as chief client officer (CCO), effective from 19 February 2018 – he will be based in Copenhagen and join the firm’s executive team reporting directly to Kim Fournais, CEO and founder.
Saxo says Bunce will assume overall responsibility for the origination, retention and growth of Saxo Bank’s direct and wholesale business and drive growth through its network of worldwide offices. He joins from Sberbank CIB in Moscow where he ran electronic markets.
Saxo Bank has launched a new, full amount execution infrastructure for its prime-of-prime (PoP) service.
Running on dedicated infrastructure through the firm’s direct market access (DMA) liquidity hubs in London and New York, Saxo says the full amount execution capability provides lower market impact for large orders in FX and precious metals.
Demand has been driven by growth in small- to mid-sized institutional clients looking for direct market access and liquidity optimisation services.
Lucian Lauerman, global head of electronic distribution, comments: "We have grown our prime-of-prime business quite significantly and we are meeting increasing client demand for execution in large order sizes. To support efficient execution and sustainable liquidity access, we have set up a dedicated infrastructure allowing clients to execute in full amount through liquidity connectivity in both NY4 and LD4. This offers clients better pricing and lower market impact on larger tickets.”
Saxo Bank has launched a new version of its institutional trading platform, dubbed SaxoTraderPRO, which is aimed at active traders and institutional clients
The platform is multi-screen, offering a fully customisable workspace for both Windows and Mac with no monthly fees, the firm says. It will replace the current SaxoTrader platform, while SaxoTraderGO will continue to cater to a wider range of retail traders and investors.
Kim Fournais, founder and CEO, says: "We were a fintech before the term was created and the core of Saxo Bank has always been our trading technology and trading platforms. We strive to democratise trading and investment, essentially providing traders and investors with the same professional tools and market access as fund managers and large financial institutions.”