Saxo Bank's fourth milestone: Acquiring 1st White Label client & WLC growth
Glimpse into Saxo Bank’s 20-year history of excellence
Fourth milestone: Acquiring 1st White Label client & WLC growth
Resource and budget constraints in IT, back office and marketing lead many banks and brokerages to seek alternatives to building an online trading solution themselves. In response, Saxo Bank offers state-of-the-art trading platforms to banks and brokerage companies licensed to hold client funds. These companies are able to offer the platforms under their own brand, maintaining full customer control and confidentiality.
In 2001, Saxo Bank signed its first White Label Client, Banco Carregosa, a Portuguese online brokerage service. Saxo bank continues the development of its White Label client business model and has signed its 120th WLC in 2013.
Geographic distribution of Saxo Bank’s White Label Clients
What our clients say about our platforms and services:
Pedro Duarte, CEO, Banco Carregosa, Portugal: It’s impossible to think that one can spend 10 years in a “honeymoon” environment. However, our relationship with Saxo Bank is solid, close, mutually beneficial and creates a balance of interests that, in theory, would not be easy to manage. The relationship has endured the markets’ ups and downs, the internal friction due to the entry of new WLCs in the market, and situations regarding trading rules and countless negotiations. Saxo Bank has always delivered capabilities with a “face.” For Banco Carregosa, this face is a team of Portuguese workers unrivalled in their willingness to solve pending issues.
Alex Knight, Global Head of FX, Margin Trading, Citibank, US: The CitiFX Pro platform (developed by Saxo Bank) provides institutional-level online trading services to a wide range of clients. The FX market is very attractive for active traders and we believe we can provide a best-in-class platform and liquidity to this client base. We believe our global presence in the FX market, combined with Saxo Bank’s proven abilities, provides a winning product for clients seeking to trade in the Margin FX space.
Carlos Almeida, head of Trading, Banco Best, Portugal: With our extensive experience in the Asset Management area, engaging with Saxo Bank allowed us to boost our positioning in the trading space, by providing a state-of-the-art technological solution. In an integrated way, our customers have access to a wide range of products and services, which allows them to seize market opportunities around the world, anytime and anywhere. The consistent knowledge-sharing and Saxo Bank’s great support have been instrumental in helping us become, in a short period of time, one of the leaders in the online derivatives market.
Arturas Kampanas, Head of FX & Rates, AB DNB Bankas, Lithuania: Several providers were on the radar, yet we chose to work with Saxo Bank. We were able to make the decision quickly, for obvious reasons – the widest financial instrument choice at one place and the largest number of WLCs across the world. I was amazed by the high quality of the launch process and the professionalism of the Saxo Bank account manager. Saxo has covered all our needs in terms of developing the branded platform, technical support and training. Our launch in May 2010 proved to be successful from the very beginning and we are experiencing steady growth in the number of active traders and commission inflow.