The FX Trade Is Skyrocketing

Thursday, 27. September 2007 08:00



SAN FRANCISCO / COPENHAGEN The FX marketplace will continue
to demonstrate tremendous growth in the coming years. This prediction
comes from Saxo Bank, a pioneer and global market leader in online
investment, following the release of the BIS Triennial survey 2007.

The BIS survey shows that traditional volumes have surged from 1.9
trillion USD per day in 2004 to a staggering 3.2 trillion USD per day
in April 2007.

"The 70 percentage jump that we see in the BIS survey may be the
largest ever jump since the surveys began," says Claus Nielsen, Saxo
Bank's Executive Director for Trading and Market Making. "But we
expect the FX marketplace to continue to grow, and Retail FX turnover
is also very likely to continue to soar at an even faster rate."

Claus Nielsen points out that in terms of more traded currencies,
there has been an increase in JPY and GBP crosses, as well as in the
Emerging Markets currencies and spot Gold and Silver. "For many
reason we see an even stronger growth over the next 3 years as FX is
becoming a true Asset Class", says Claus Nielsen who is in San
Francisco to participate in an exclusive Saxo Bank event for asset
managers, CTAs, CPOs, financial institutions, brokerages, banks etc.

Claus Nielsen finds it noteworthy that a year ago at least in Europe
not many in the street knew what a FX carry trade was about. "Now,
everyone in the street knows about carry trading. The unwinding of
the Carry Trade was even considered one of the reasons why stock
markets fell in August", says Claus Nielsen.

He believes that FX Carry Trades as well as investing in Emerging
Markets currencies to gain a high yield will add to the knowledge
about FX trading and, eventually, turn it into an Asset Class.

"Another very important accelerator for FX as an Asset Class is that
big retail banks like ABN, Deutsche etc. are starting to offer FX to
their retail clients", says Claus Nielsen.

Saxo Bank is headquartered in Copenhagen, Denmark, with operating
offices in London, Geneva, Zürich, Singapore and Marbella in Spain.
It also runs a representative office in Beijing and an IT development
center in St. Petersburg. One of Saxo Bank's significant areas of
business is White Labelling. Saxo Bank has more than 70 White Label
Partners and thousands of clients in over 170 countries.

For more Information on the BIS Triennial survey 2007:

http://www.bis.org/publ/rpfx07.htm


Media enquiries:

Saxo Bank Corporate Communications:
Kasper Elbjorn on +45 30654300
Fleming Voetmann on +45 51595036
Team-CorporateCommunications@saxobank.com

Saxo Bank Front Office | Trading & Market Making:
Claus Nielsen, Executive Director, Phone +45 3065 4027

Saxo Bank North America:
Patrick Mortensen, Regional Head North America, Phone +45 3065 4042


About Saxo Bank A/S

Saxo Bank A/S is a modern investment bank specializing in online
investments in international Capital Markets. Saxo Bank enables
clients to trade currencies, shares, CFDs, futures, options and other
derivatives, as well as providing portfolio management via our online
trading platform, SaxoTrader. SaxoTrader has been developed by Saxo
Bank and is available to today's investor directly through Saxo Bank
or through one of our global partnerships, 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 customized and branded for other financial
institutions and brokers. Saxo Bank has more than 70 White Label
Partners and boasts thousands of clients in over 170 countries. The
bank's website www.saxobank.com receives approximately 65,000
visitors every day. Saxo Bank currently employs more than 1,100
employees from 57 different countries.

Saxo Bank has its headquarters in Copenhagen, with operating offices
in London, Geneva, Zürich, Singapore and Marbella. It also runs a
representative office in Beijing and an IT development center in St
Petersburg.


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Author:
Hugin
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