saxo-bank-annual-report-2015

with our ability to provide access to trading as part of a
full-service value chain including client on-boarding and
back office support, enables WLCs to multiply trading volumes
as well as protect their business from rapid technological
change.
During 2015, Saxo Bank expanded its offering to its WLCs
by introducing stock options trading and Saxo Portfolio
Manager, an integrated portfolio management and trading
solution for wealth managers. SaxoTraderGO, the
Bank’s next-generation multi-asset trading platform, was
also made available to WLCs.
Open Bank Strategy
SaxoTraderGO is built using Open API. Saxo Bank believes
that the combination of SaxoTraderGO built on OpenAPI
offers endless customisation opportunities which will
change the way trading technology is white labelled in
the future.
Saxo Bank’s APIs combined with single sign-on features
enable institutions to create a seamless user experience
within their own client offerings. Allowing WLCs to plug
in their own liquidity on the front-end and giving them
the choice of using existing relationships or the open
back-office of Saxo Bank as the prime broker/custodian
makes Saxo Bank’s solution in this space unique.
Saxo Bank believes that opening up its infrastructure will
appeal to local leaders (retail aggregators) capable of attracting
significant numbers of clients to the Bank’s platform,
and that the Open Bank strategy will allow deeper
integration and more sophisticated White Label business.
SAXO PRIVATBANK/RETAIL BANKING
Saxo Bank offers private and retail banking through Saxo
Privatbank, a fully licensed Danish bank with branches
across Denmark.
In 2015, Saxo Privatbank demonstrated strong client acquisition
and positive development in client balances, resulting
in an increase in revenues.
During the year, Saxo Privatbank refocused its local presence
by opening in Aarhus and Esbjerg and simultaneously
closed branches in Vejen and Holsted.
Taking into account the investments in additional staff
and establishing the aforementioned physical presences,
total costs have been reduced. This has been accomplished
through significant cost reductions in IT and related
areas.
Saxo Privatbank continues to focus on Private Banking, offering
full-service banking with special attention to investment
advisory services. The core offering combines digital
solutions for everyday banking transactions, as well as the
ability to use advanced tools and services to make sound
investment decisions, combined with 360-degree advisory
services.
The core offering is an innovative integration of Saxo
Bank’s new trading and investment platform with its thirdpart
banking infrastructure (SDC). The new and combined
offering allows clients to use advanced order types and
technical analysis, and provides access to 32 markets –
also from pension accounts. The solution is accessible
from PC, tablet and smartphone, and settings and workspaces
are shared across devices.
The total value of cash deposits and investments by clients
of Saxo Privatbank AuM amounted to DKK 26.4 billion as
of 31 December 2015. Of this amount, DKK 15.3 billion
were investments managed by Saxo Wealth Management
on behalf of clients, while DKK 8.0 billion was clients’ direct
investments in securities, with the remaining DKK 3.0
billion representing clients’ cash deposits with Saxo Privatbank.
The total balance of loans outstanding amounted
to DKK 1.8 billion.
SAXO BANK · ANNUAL REPORT 2015 · 23