Saxo Bank Japan changes trading hours for TRY pairs
Saxo Bank Securities, the Japanese subsidiary of Saxo Bank, today announced changes to trading conditions for currency pairs with TRY.
Saxo Bank is one of the oldest Retail FX and CFD brokers, and is still today one of the largest doing about $300 billion in combined monthly volumes. The Copenhagen firm was founded in 1992 by Danish entrepreneurs Lars Seier Christensen and Kim Fournais, who co-ran the company until control of Saxo was acquired by China’s Geely Group in late 2017. Saxo Bank has matured from a mainly FX trading shop into a true multi-asset broker, with about half of its client trading volumes in any given month from a combination of Equities (including Index trading), Commodities and Fixed Income CFD products.
In addition to holding a bank license in its home market of Denmark, Saxo Bank subsidiaries are licensed in the UK, Singapore, Switzerland, France, The Netherlands, Belgium, Hong Kong and Australia. The group holds over €46 billion in combined client assets, and employs over 2,100 staff worldwide.
Saxo Bank offers its own proprietary SaxoTraderGO and SaxoTraderPRO trading platform to clients, in addition to a number of third party platforms. Clients not using the proprietary platforms can trade their Saxo account using the popular MT4, as well as Dynamic Trend, TradingView, and MultiCharts. Clients can also receive tailored multi-asset liquidity via FIX API.
Saxo Bank Securities, the Japanese subsidiary of Saxo Bank, today announced changes to trading conditions for currency pairs with TRY.
Michael Ridley’s departure comes just days after Saxo UK Chairman Richard Balarkas also left the company.
Richard Balarkas was a longtime Credit Suisse banker, before becoming CEO of Instinet Europe in 2008.
Geely Group will be receiving €802 million ($867 million) for its 49.88% stake in Saxo Bank.
Saxo Bank co-founder and current CEO Kim Fournais is not party to the sale, and will retain his approximate 28% ownership in the company.
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