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Saxo Bank A/S 1 June 2008 World Finance magazine has recognised Saxo Bank as the Institutional FX provider of the year, an award that highlights the success of the bank's White Label Partner (WLP) Strategy.
As one of the pioneers in white-labeling of online trading, Saxo Bank now reaps the benefits of establishing institutional relationships, around the world says Kim Fournais and Lars Seier Christensen, co-CEOs and founders of Saxo Bank.
"This is the first time Saxo Bank has received a World Finance magazine award and it is a great honour to achieve this recognition," says Mr Fournais. "Early on, we acknowledged the necessity of establishing strong, long-lasting relationships with financial professionals that had a deep understanding of the local and financial culture of our clients. We see the World Finance award as a clear validation of the success and efficiency of our White Label Partner strategy," he adds.
Today, Saxo Bank has more than 120 White Label Partners globally, that have adapted Saxo Bank's multi-product platform to their unique needs.
Mr Christensen comments: "As banks and financial institutions wake up to the growing potential of the online trading market, they continue to look for the best technological solutions for gaining quick and reliable access to the sector." Mr Christensen adds: "In the early 90's, Saxo Bank foresaw this market opportunity and our goal since then has been to secure this strong and valuable position as best providers to both institutional and retail clients."
The prestigious accolade follows several others awarded to the Bank, including the Euromoney Fastest Growing FX Bank of 2008 award. It follows just weeks after Saxo announced it would take a 35 % equity holding in Tricom, a Sydney based brokerage and that it would join forces with the French brokerage, Cambiste on 28 May.
The World Finance magazine's awards are based on a wide range of selection criteria, with market leadership and geographic spread being heavily weighted. Other criteria include level of transparency, good governance, as well as innovation, originality and the ability to stay ahead of the competition. Among its readers, World Finance magazine features more than 120,000 CEO's and top business executives from financial institutions world-wide.
Saxo Bank is a global investment bank specialising in online trading in the international Capital Markets. Saxo Bank enables clients to trade Forex, CFDs, Stocks, Futures, Options and other derivatives, as well as providing portfolio management via the SaxoTrader, the leading online trading platform. The SaxoTrader has been developed by Saxo Bank and is available to today's investor directly through Saxo Bank or through one of our global collaborations, where it forms an integral part of their infrastructure. One of Saxo Bank's significant areas of business is White Labelling. This involves the Bank's online trading platform being customised and branded for other financial institutions and brokers. Saxo Bank has more than 120 White Label Partners and boasts thousands of clients in over 170 countries. Saxo Bank currently employs more than 1,300 employees from 72 different countries.
Saxo Bank is headquartered in Copenhagen with offices in London, Geneva, Zurich, Singapore and Marbella. It also runs a representative office in Beijing and an IT development centre in St. Petersburg.
