Saxo Financial institution introduced right now (Monday) that it has been formally designated as a Systemically Essential Monetary Establishment (SIFI) by the Danish Monetary Supervisory Authority (FSA). Saxo has turn into Denmark’s ninth such establishment.
The SIFIs are Danish firms taking part in a big position within the nation’s monetary system and are essential to monetary stability. These firms should observe stringent capital necessities.
“We’re proud to have constructed Saxo Financial institution right into a strong establishment over the previous 30 years,” stated Kim Fournais, Saxo’s Founder and CEO. “We have now carried out this by specializing in servicing our shoppers and companions nicely – and having had success doing so, now we have now been designated as a Systemically Essential Monetary Establishment by the Danish FSA.”
“It does include an elevated duty as Saxo Financial institution will adhere to even stricter regulatory and capital necessities, which we welcome. We look ahead to additional strengthening our place as a trusted and important participant within the monetary business, driving constructive change, and shaping the way forward for investing.”
Rising Demand for Saxo’s Providers
Headquartered in Denmark, Saxo has a bigger international presence. On prime of that, it operates a widely known brokerage model and is a big participant within the buying and selling business.
The Danish firm is planning to go public in Europe. Final yr, it inked a take care of a blank-check firm for the general public itemizing on Euronext Amsterdam. Nevertheless, the deal was terminated final December, citing the “timing [was] not optimum.” the CEO, Fournais said, including that the corporate is preserving its choices to turn into public open, Finance Magnates reported earlier.
Saxo generated DKK 711 million final yr in revenue regardless of the determine declining 6 %. Its trading-related and curiosity earnings dropped by 2 % to about DKK 4.4 billion.
In the meantime, the demand for Saxo’s providers is rising this yr. As the corporate formally revealed, the variety of Saxo’s shoppers surpassed a million earlier this month. Additional, the shopper asset on the platform crossed $100 million final month.
Saxo Financial institution introduced right now (Monday) that it has been formally designated as a Systemically Essential Monetary Establishment (SIFI) by the Danish Monetary Supervisory Authority (FSA). Saxo has turn into Denmark’s ninth such establishment.
The SIFIs are Danish firms taking part in a big position within the nation’s monetary system and are essential to monetary stability. These firms should observe stringent capital necessities.
“We’re proud to have constructed Saxo Financial institution right into a strong establishment over the previous 30 years,” stated Kim Fournais, Saxo’s Founder and CEO. “We have now carried out this by specializing in servicing our shoppers and companions nicely – and having had success doing so, now we have now been designated as a Systemically Essential Monetary Establishment by the Danish FSA.”
“It does include an elevated duty as Saxo Financial institution will adhere to even stricter regulatory and capital necessities, which we welcome. We look ahead to additional strengthening our place as a trusted and important participant within the monetary business, driving constructive change, and shaping the way forward for investing.”
Rising Demand for Saxo’s Providers
Headquartered in Denmark, Saxo has a bigger international presence. On prime of that, it operates a widely known brokerage model and is a big participant within the buying and selling business.
The Danish firm is planning to go public in Europe. Final yr, it inked a take care of a blank-check firm for the general public itemizing on Euronext Amsterdam. Nevertheless, the deal was terminated final December, citing the “timing [was] not optimum.” the CEO, Fournais said, including that the corporate is preserving its choices to turn into public open, Finance Magnates reported earlier.
Saxo generated DKK 711 million final yr in revenue regardless of the determine declining 6 %. Its trading-related and curiosity earnings dropped by 2 % to about DKK 4.4 billion.
In the meantime, the demand for Saxo’s providers is rising this yr. As the corporate formally revealed, the variety of Saxo’s shoppers surpassed a million earlier this month. Additional, the shopper asset on the platform crossed $100 million final month.
