Saxo adds futures trading with Refco

Danish investment bank Saxo Bank has added futures coverage to SaxoTrader, its online trading platform, as part of a partnership with Refco Overseas, the European arm of New York-based Refco Group.

The deal also brings Refco a white-labelled version of SaxoTrader, which it calls Refco Market Access, to market to small UK institutional clients.

Both SaxoTrader and Refco Market Access now offer trading for foreign exchange - spot, forwards and options - equities, contracts-for-difference and futures. Saxo has also offered to add futures to the platform it has white-labelled to 24 other partners.

Futures trading on SaxoTrader and Refco Market Access is limited to market and limit orders due to the limitations of exchanges to accept other order types electronically, said Lars Christensen, Saxo's co-chief executive officer in Copenhagen. But Saxo is building its own order management system that will allow users to pass other order types, such as good-till-cancel, to Saxo Bank, which will then input the order to the exchange manually, he said.

Saxo Bank provides its platform to Refco Overseas without any licence, upgrade or hosting fees, but takes an undisclosed share of the revenue based on trading volumes. Refco provides distribution and customer service.

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here