SAXO DIRECT - TAILORED API SOLUTIONSemailstorage.saxobank.com/.../Saxo.../SaxoDirect.pdf · SAXO...

SAXO BANKSAXO DIRECT - TAILORED API SOLUTIONS

SAXO DIRECT - TAILORED API SOLUTIONS - 1

Over the last decade Saxo Bank has successfully combined forces with hundreds of financial institutions who have leveraged the Bank’s leading market presence, top tier liquidity sources and industry know-how.

Saxo Bank functions as a financial facilitator. By aggregating liquidity, offering access to exchanges around the world and providing a powerful suite of products through award-winning trading platforms, Saxo Bank helps private and institutional clients take full advantage of the online investment market.

Saxo Bank’s latest offering - Saxo Direct - is the Bank’s API solution tailored to retail brokers, hedge funds and asset managers. Saxo Direct combines the Bank’s long standing experience in multi asset trading with custom-engineered solutions that deliver sharp liquidity at maximum speed, transparency and reliability.

This publication presents the core building blocks of Saxo Direct. For more insight into the online trading offering please contact Saxo Bank.

INTRODUCTION

2 - SAXO DIRECT - TAILORED API SOLUTIONS

SAXO BANK’S HEADQUARTERS, COPENHAGEN, DENMARK


[1]

[2]

CONTENTS

PAGE 5

PAGE 11

[Saxo Bank in brief]

[Saxo Direct - tailored API solutions]

[3]PAGE 17

[Product universe]


[1]

[Saxo Bank in brief]


Established in 1992 and headquartered in Copenhagen, Saxo Bank is a fully licensed and regulated European bank specialised in trading and investment. Since receiving European bank status in June 2001, Saxo Bank has positioned itself as a leading player in online trading thanks to its superior client service, competitive pricing and its focus on developing industry-leading trading platforms.

The Bank provides a wide range of products, services and platforms, giving private clients, professional asset managers and financial institutions instant and reliable access to financial markets.

Since 2006, Saxo Bank’s geographical footprint has expanded rapidly and today, in addition to its headquarters in Denmark, the Bank is present in 20 countries, covering the world’s major financial centres including London, Zurich, Dubai, Singapore and Hong Kong. With a client base spanning 180 countries, Saxo Bank will continue to open new offices with a view to improving client sales and service.

Our trading platforms Saxo Bank’s clients have access to three specialised trading platforms: the browser-based SaxoWebTrader, the downloadable SaxoTrader and the SaxoMobileTrader. All platforms are fully integrated under each client account. In recognition of the quality of the platforms and products, Saxo Bank has received many awards from leading industry publications, such as Euromoney and FX Week.

Saxo Bank provides its client base with online trading of over 160 FX crosses (including gold and silver), more than 7,300 CFDs, 14,000 Stocks, Futures, ETFs and FX Options as well as portfolio and fund management solutions.

Saxo Bank supports offline trading in bonds through direct telephone and online access to specialist dealers.

Meeting the needs of institutional clients Saxo Bank has over 10 years of experience in supporting financial services companies by helping them enter and grow their business in the fast growing market of online trading. Depending on the company profile, legal status and client base Saxo Bank offers different types of solutions.

Saxo Bank’s FIX API solution empowers professional traders and selected clients to manage their own trading while making use of the Bank’s liquidity, technology and resources.

Saxo Bank’s Money Manager concept provides separately managed account (SMA) for asset managers with the technology and market access to capital markets products. The offering’s back-office and comprehensive reporting and monitoring tools make client management and administration easy for the Money Managers.

Backed by a strong online trading solution, more than 100 banks and brokers use Saxo Bank to provide their clients direct access to financial markets and products at competitive and transparent rates. Saxo Bank’s White Label Solution is a complete retail online trading package including a custom-branded edition of our trading platform that is tailored and configured to suit specific needs of Retail Banks, Specialised Brokerages, Wholesale and Private Banks.

Many private banks and financial institutions also choose Saxo Bank’s multi-product online trading platform for their own direct access to global capital markets.

A broadening portfolio of services In recent years, Saxo Bank’s strategic direction has focused on broadening and diversifying its product and service offerings to reach a more diverse client audience. However, the core element of the bank’s business focus remains its trading technology that brings professional trading functionality to clients across all segments.

Corporate ownership The majority of Saxo Bank A/S shares are held jointly by the two founders Kim Fournais and Lars Seier Christensen. Another major shareholder is TPG Capital, one of the world’s leading investment firms. The remaining shares are held by a number of minority shareholders.

Awards and recognitions Throughout the years Saxo Bank has received a number of awards. Most recently Saxo Bank won two of the World Finance Foreign Exchange Awards 2012. The World Finance awards recognised Saxo Bank’s ongoing investment in technology and forward-thinking approach which have led to the success of the business and wide acknowledgement in the industry.

1.SAXO BANK IN BRIEF


MILESTONES

The geographical expansion is expected to continue and potential locations around the world are in the process of being evaluated.

Saxo Bank won two awards at the World Finance Foreign Exchange Awards 2012: ‘Best White Label Solution Provider’ and ‘Best Mobile Trading Platform´.

2012

Saxo Bank is named ‘Best Forex Broker in Northern Europe’, and ‘Best White Label Solution Provider’ in the World Finance Foreign Exchange Awards 2011. Saxo Bank also won ‘Best Liquidity Distribution System' at the FX Week e-FX Awards 2011.

Saxo Bank opens offices in Hong Kong and Panama, South Africa, Belgium, Russia and Cyprus.


KEY FIGURES AND RATIOS

OPERATING INCOME 2007-2011 EUR MILLION

SAXO BANK GROUP(EUR millions)* 2011 2010 2009 2008 2007Operating income 474.4 449.0 299.6 338.7 210.4

Profit before tax 114.0 122.9 36.2 63.0 49.1

Net profit 83.1 86.6 27.1 45.6 37.0

Total equity 435.8 387.4 314.1 190.6 147.0

Total assets 3,634.5 3,018.3 2,046.1 1,406.5 1,344.7

Clients’ collateral deposits 4,745.2 4,210.0 2,086.8 1,172.6 1,235.0

Assets under management 4,462.0 4,192.9 2,550.9 - -

Solvency ratio (Pilar I) 14.5% 16.5% 19,0% 17,5% 18,2%

Return before tax on Total equity 27.7% 35,0% 14,4% 37,3% 47,8%

Average number of employees 1,413 964 927 1297 1011

*Converted from DKK using exchange rate at the close of 31-12-2011

DKKMILLION

474.4449

299.6338.7

210.4

1,564.4

83.186.6

27.1

45.637.0

1000 2011

2011


SAXO BANK WORLDWIDE

NET PROFIT 2007-2011 EUR MILLION

DKKMILLION

474.4449

299.6338.7

210.4

1,564.4

83.186.6

27.1

45.637.0

1000 2011

2011


[2]

[Saxo Direct - tailored API solutions]


Saxo Direct is Saxo Bank’s institutional product offering targeted at clients aiming to connect with Saxo Bank through our API con-nection. Saxo Bank currently aggregates foreign exchange liquidity into one advanced BBO (Best Bid Offer stack). This gives us the ability to offer competitive spreads and depth of liquidity to our institutional clients.

Furthermore, Saxo Bank has seen an increase in other asset class volumes, primarily through CFD’s. Therefore, we have invested to provide these products through the API as well:

• CFDs on commodities and indices (OTC)• CFD DMA

• Futures• Stocks

We offer a cost efficient solution based on SSL VPN and FIX Protocol with testing and implementation completed as quickly as 3-4 weeks.

2.TAILORED API SOLUTIONS

MAIN BENEFITS OF SAXO DIRECT

MULTI ASSET APIThrough a single API, clients have the ability to trade FX, Metals, CFDs (Indices and Commodities), Equities and Futures.

HIGH TOUCH SERVICESDedicated client onboarding, operated by teams in Europe and Singapore, ensure seamless transition from simulation to go-live. Our liquidity services team continually monitor trade execution and adjust the necessary liquidity parameters to ensure execution and pricing remain optimal.

ASSET CLASS INSTRUMENTS QUOTED SESSION TRADE AND ORDER SESSION

FX spot (BB0) 70+ crossesincl. Gold & Silver, rest – via RFQ

Streaming pricingSingle and/or multi bands

Trade on quoteMarket, limit, stop and related orders

CFD 21 Market Made CFD Stock Indices21 Market Made CFD Commodities

Streaming pricing*Single bands

Market ordersLimit and stop orders

CFD DMA >14,000 Single stocks N/A Order routing sessionMarket orders Limit and stop orders

Stocks 14,800 on 29 exchanges N/A Order routing sessionMarket orders Limit and stop orders

Futures 140 Contracts on 18 exchanges N/A Order routing sessionMarket orders Limit and stop orders

ETFs / ETCs 1,672 / 169 N/A Order routing sessionMarket orders Limit and stop orders

*No trading on quotes – only orders.

SPEED OF EXECUTIONThe Bank’s Forex offering won ‘Best Speed of Execution’ in Euromoney’s annual FX survey 2011.

COMPETITIVE PRICINGSaxo Bank’s liquidity is competitively priced and during US and early Asian hours we are amongst the most competitive in the industry.

BESPOKE CLIENT LIQUIDITYSaxo Bank designs dedicated liquidity that is most appropriate to the client’s needs. Saxo Bank can tailor single or multiple bands according to the desired depth of liquidity.

The below highlights Saxo Direct’s product breadth and depth.


CLIENT SOLUTIONS

Saxo Direct delivers the Bank’s proprietary multiple product liquidity efficiently and securely to external trading client systems. Our API communicates with the client’s own FIX trading engine and order Management System, as illustrated below:

Saxo Bank currently assists clients with three primary structured solutions:

DIRECT CLIENT API API WITH DEDICATED LIQUIDITY CHANNELS

TECHNOLOGY PROVIDER

TARGET AUDIENCE Retail brokers/aggregatorsAsset ManagersHedge Funds

Retail brokers/aggregators Technical facilitators

KEY CHARACTERISTICS

Simplest setup with a single dedicated liquidity stream for client trading/hedging

Dedicated individual liquidity channels for each sub-client limiting single client channel rejection

Provides end-to-end client onboarding, trading and broker services

• Market orders are filled “at-best” with clients receiving BOTH positive and negative slippage.

• During rare significant price jumps, FX trade requests on published quotes are rejected equally and symmetrically BOTH when price moves in favor of the Bank and in favor of the client.

• No “last-look” holding periods.

• To ensure best execution, large orders at illiquid times and trades in excess of band allocation can be serviced by our professional trading desks.

TRADE EXECUTION


REPORTING

Trade reporting is supported through three main channels:

Dedicated trading and onboarding services working across three time zones 24/5 ensure prompt and timely delivery of:

• Trading services and assistance• IT business surveillance, intelligence and monitoring

All technical support is managed out of both Copenhagen and Singapore.

ONBOARDING AND SERVICES

CHANNEL END OF DAY FILES

Flat/text files sampling all parameters of trading/account activity during the previous 24 trading hours.

The CSV/XML is ideal for importing into an SQL database where it can be processed and update back office systems etc.

Saxo Bank can help identify the required reports specifically relevant for CFDs and FX trading.

1CHANNEL ONLINE WEBCONNECT

The Online WebConnect tool is a full-service, back-office suite, including account management, activity logs, risk management and access to client’s individual margin and trading.

The platform’s omnibus account management structure gives a comprehensive, searchable overview of clients´ accounts, individual trade activity, commission accounts and service issues.

2CHANNEL TRADE EVENT NOTIFICATIONS (TENS)

Real-time notifications per trade event (client order placed, booked, funds transferred, margin calls) may also be provided by different means (FIX, email).3


[3]

[Product universe]


3PRODUCT UNIVERSE

FX SPOT

MAJORS

AUDJPY AUDUSD EURAUD EURCAD USDCHF EURGBP

EURJPY EURUSD GBPAUD GBPCHF GBPJPY GBPUSD

NZDUSD USDCAD USDCHF USDJPY

PRIMARY CROSSES

AUDCAD AUDCHF AUDNZD CADCHF CADJPY CHFJPY

EURNZD EURSGD EURTRY GBPCAD GBPNZD GBPSGD

NZDCAD

USDTRY

NZDCHF NZDJPY SGDJPY USDHKD USDSGD

EMERGING

CHFPLN EURCZK EURHUF EURMXN EURPLN EURRON

EURZAR GBPPLN TRYJPY USDCNH USDCZK USDHUF

USDILS

ZARJPY

USDMXN USDPLN USDRON USDRUB USDZAR

XAUUSD XAGUSD

SCANDIES

CHFNOK CHFSEK EURDKK EURNOK EURSEK USDDKK

USDNOK USDSEK

SPOT METALS


CFD COMMODITIES

COCOANY NY Cocoa

COFFEENY NY Coffee

COPPERUS US Copper

CORN Corn

EMISSIONS Emissions

GASOILUK UK Gas Oil

GASOLINEUS Gasoline US

GOLD Gold

HEATINGOIL Heating Oil

LIVECATTLE Live Cattle

NATGASUS US Natural Gas

OILUK UK Crude

OILUS US Crude

ORANGEJUICE Orange Juice

PALLADIUM Palladium

PLATINUM Platinum

SILVER Silver

SOYBEANS Soybeans

SUGARNY NY Sugar No. 11

WHEAT Wheat


CFD FUTURES AND INDICES

AEX.I Netherlands 25

ASXSP200.I Australia 200

BELG20.I Belgium 20

CAC40.I France 40

DAX.I Germany 30

DEN20.I Denmark 20

DJI.I US 30 Wall Street

EUROBOBL Euro BOBL

EUROBTP Euro BTP

EUROBUND Euro Bund

EUROSCHATZ Euro Schatz

FTSE100 UK 100

FTSE250.I UK Mid-Cap 250

IBEX35.I Spain 35

MDAX.I Germany Mid-Cap 50

NAS100.I US Tech. 100 NAS

NI225.I Japan 225

NOR25.I Norway 25

RUSSELL2000 Russell 2000 Mini Index

SMI.I Switzerland 20

SP500.I US SPX500

SPMIB.I Italy 40

STOXX50E.I EU Stocks 50

USDINDEX US Dollar Index

VIX Volatility Index

SWE30.I Sweden 30

TECDAX.I Germany Tech. 30


EQUITIES (SINGLE STOCKS, DMA CFDS, ETF’S & ETC’S)

US NASDAQ Capital Market NASDAQ American Stock Exchange AMEX New York Stock Exchange NYSE NASDAQ Global market NASDAQ NYSE Arca Stock Exchange NYSE OTC Bulletin Board on NASDAQ OOTC & OTCBB

Australia Australian Stock Exchange ASX

Hong Kong Hong Kong Stock Exchange HKEX

Poland Warsaw Stock Exchange WSE

Singapore Singapore Exchange Securities Trading Limited SGX-ST

Switzerland Swiss Exchange SWXSwiss Europe Exchange VX

South Africa Johannesburg Stock Exchange JSE

Italy Milano Stock Exchange MIL

Denmark OMX Nordic Stock Exchange_Copenhagen OMX

Finland OMX Nordic Stock Exchange_Helsinki OMX

Portugal Euronext Lisbon EURONEXT

Austria Wiener Börse (Vienna) Stock Exchange VIE

Norway Oslo Stock Exchange OSE

Belgium Euronext Brussels EURONEXT

Germany Frankfurt Stock Exchange_XETRA FSE Sweden OMX Nordic Stock Exchange_Stockholm OMX

France Euronext Paris EURONEXT

Netherlands Euronext Amsterdam EURONEXT

UK London Stock Exchange LSE_SETSLondon International Order Book LSE

Spain Sistema De Interconexion Bursatil Espanol (BME Spanish) Stock Exchange SIBE

Canada Toronto Stock Exchange TSE

TSX Venture Stock Exchange TSX

Japan Tokyo Stock Exchange TYO


FUTURES AND AVAILABLE EXCHANGES

Australian Securities Exchange(Former named SFE)

Sydney, Australia

Italian Exchange

Milan, Italy

Singapore Exchange(Former named SIMEX)

Singapore, Singapore

Tokyo Stock Exchange

Tokyo, Japan

Hong Kong Stock Exchange

Hong Kong, China

Mercado oficial de futuros y opciones financieros en España

Madrid, España

New York Stock Exchange

London, Paris, amsterdam, Brussels

National Association of Securities Dealers Automated Quotation

Copenhagen, Stockholm, Helsinki

European Exchange AG

Zürich, Switzerland

Intercontinental Exchange

ICE US (NYBOT),ICE EUROPE (IPE)

Chicago Mercantile Exchange

CME, CBOT, NYMEX, COMEX


COPENHAGENSAXO BANK A/S PHILIP HEYMANS ALLÉ 152900 HELLERUPDENMARKPHONE: +45 39 77 40 00FAX: +45 39 77 42 00REG. NO. 1149CVR. NO. 15731249WEB: WWW.SAXOBANK.COME-MAIL: [email protected]

SYDNEYSAXO CAPITAL MARKETS (AUSTRALIA) PTY. LTD.,LEVEL 25, 2 PARK STREET SYDNEY,NSW 2000AUSTRALIAPHONE: +61 (2) 8267 9000FAX: +61 (2) 8267 9050WEB: AU.SAXOMARKETS.COME-MAIL: [email protected]

AMSTERDAM SAXO BANK A/S NEDERLANDWTC AMSTERDAMB-TOWER 15TH FLOORSTRAWINSKYLAAN 15271077 XW AMSTERDAMPHONE: +31 20 333 2133FAX: +31 20 333 2149WEB: WWW.SAXOBANK.NLE-MAIL: [email protected]

TOKYOSAXO BANK JAPAN K.K.KAMIYACHO SANKEI BUILDING 10F1-7-2 AZABUDAIMINATO-KU106-0041 TOKYOJAPANOFFICE: 81 3 5545 6351FAX: +81 3 5545 6352WEB: WWW.SAXOBANK.JPE-MAIL: [email protected]

SINGAPORESAXO CAPITAL MARKETS PTE. LTD.3 CHURCH STREETLEVEL 30 SAMSUNG HUBSE SINGAPORE 049483SINGAPOREPHONE: +65 6303 7800FAX: +65 6303 7808WEB: WWW.SAXOMARKETS.COM.SGE-MAIL: [email protected]

HONG KONGSAXO CAPITAL MARKETS HK LIMITEDSUITE 400440F TWO EXCHANGE SQUARE8 CONNAUGHT PLACECENTRAL HONG KONGPHONE: +852 3760 1388FAX: +852 3760 1300E-MAIL: [email protected]

MADRIDSAXO BANK A/S SUCURSAL EN ESPAÑASERRANO 32, 2E28001 MADRIDPHONE: +34 91 0020940FAX: +34 91 0020946WEB: WWW.SAXOBANK.ESE-MAIL: [email protected]

MILANSAXO BANK A/S ITALIACORSO MONFORTE 1520122 MILANOITALYPHONE: +39 02 3668 29 29 FAX: +39 02 3668 29 69WEB: WWW.SAXOBANK.ITE-MAIL: [email protected]

PRAGUESAXO BANK A/S PRAGUEBETLÉMSKÝ PALÁCHUSOVA 5PRAHA 1, 110 00CZECH REPUBLICPHONE: +420 22 620 1580FAX: +420 22620 1581WEB: WWW.SAXOBANK.CZE-MAIL: [email protected]

DUBAISAXO BANK (DUBAI) LTD.CURRENCY HOUSE, 1ST FLOORDIFCPO BOX 506830DUBAI, UAEPHONE: +971 4 381 6000FAX: +971 4 325 9209 E-MAIL: [email protected]

PANAMASAXO CAPITAL MARKETS PANAMA SATORRES DE LAS AMERICAS, PISO 29, TORRE C, SUITE 29080832-2522 WTC - PUNTA PACIFICACIUDAD DE PANAMA, PANAMAPHONE: +507 2153199FAX: +507 2153115

LONDONSAXO CAPITAL MARKETS UK LTD40 BANK STREET, LEVEL 26CANARY WHARFLONDON E14 5DAUNITED KINGDOMPHONE: +44 207 151 2000FAX: +44 207 151 2001 WEB: UK.SAXOMARKETS.COME-MAIL: [email protected]

PARISSAXO BANQUE FRANCE SARL10 RUE DE LA PAIX75002 PARISFRANCEPHONE: +33 1 78 94 56 40FAX: +33 1 78 94 56 49 WEB: WWW.SAXOBANQUE.FRE-MAIL: [email protected]

ZURICHSAXO BANK (SCHWEIZ) AGRIETSTRASSE 41POSTFACH 509CH-8702 ZOLLIKONSWITZERLANDPHONE: +41 58 317 95 00FAX: +41 58 317 95 01 WEB: WWW.SAXOBANK.CHE-MAIL: [email protected]

ATHENSSAXO BANK A/S HELLAS4 VASILISSIS SOFIAS AVENUE10674 ATHENS,GREECEPHONE: +30 211 181 2 181FAX: +30 211 181 2 180E-MAIL: [email protected]

JOHANNESBURGSAXO CAPITAL MARKETSTHE PLACE, 1 SANDTON DRIVESOUTH WING, SANDTON, 2146JOHANNESBURG, SOUTH AFRICAPHONE: +27 10 201 6300FAX: +27 11 784 7078

BRUSSELSSAXO BANK BELGIUMREPRESENTATIVE OFFICEAVENUE LOUISE 4801050 BRUSSELS, BELGIUMPHONE: +32 2 626 11 70E-MAIL: [email protected]: [email protected]

MOSCOWSAXO BANK A/S MOSCOWREPRESENTATIVE OFFICEFUSION PARKMOSCOW 119048, RUSSIAPHONE: +7 495 783 2001FAX: +7 495 783 2002WEB: SAXOBANK.RUE-MAIL: [email protected]

LIMASSOLSAXO BANK A/S CYPRUSAGIAS FYLAXEOS 1, 1ST FLOOR3025 LIMASSOLCYPRUSPHONE: +357 250 21 121FAX: +357 250 21 120WEB: SAXOBANK.COME-MAIL: [email protected]

SAXO BANK INTERNATIONAL PRESENCE

None of the information contained herein constitutes an offer (or solicitation of an offer) to buy or sell any currency, product or financial instrument, to make any investment, or to participate in any particular trading strategy. This material is produced for marketing and/or informational purposes only and Saxo Bank A/S and its owners, subsidiaries and affiliates whether acting directly or through branch offices make no represen-tation or warranty, and assume no liability, for the accuracy or completeness of the information provided herein. Saxo Bank may change its Saxo Direct offering and the content of this catalogue without notice. The content of this catalogue shall not be relied up for any any contractual purposes.

This disclaimer is subject to Saxo Bank’s Full Disclaimer available at www.saxobank.com/disclaimer.

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