Saxo Capital Markets Partners with Australian Stockbroker OpenMarkets

OpenMarkets, one of the leading stockbrokers in Australia, signed a mutual partnership agreement with Saxo Capital Markets Australia. The firms are combining their efforts to further disrupt traditional broking services.

The companies signed a strategic alliance partnership, aiming to democratize trading and provide better trading conditions to their clients. Clients of Saxo Capital Markets that trade on the Australian Stock Exchange will be obtaining a Holder Identification Number. The unique identifier is issued by the ASX to every Australian broker client that trades shares via the venue.

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When using an HIN number, all of the stocks that an investor holds will be allocated directly to the designated broking account. On its part, Saxo Capital Markets will deliver to clients of OpenMarkets access to the Danish broker’s trading product list, which includes over 19,000 shares across 36 exchanges globally.

OpenMarkets is one of the 15 largest brokers in Australia, transacting between $2 and 3.5 billion monthly. The partnership with Saxo Capital Markets secures substantial cost savings for the firm, while delivering to the clients of the Australian brokerage immediate access to exchange listed securities worldwide.

OpenMarkets Proves Automated Broking is the Future of Online Trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Read this Term

Saxo Bank will be able to provide access to the HIN infrastructure to its own clients, marking a one of a kind offering. Historically, HIN-based stockbrokers for Australian shares and custodian-based brokers that deal with stocks globally have been segregated.

Commenting on the news, the CEO of OpenMarkets, Andrea Marani, stated: “Our partnership with Saxo will result in us being able to offer trading in global securities from one cross-collateralised cash account and we will do this at competitive brokerage and FX rates.”

“Thanks to our new partner, Saxo will be the first broker to offer a HIN solution on a singular, consolidated multi-asset Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term. This differentiates us from other multi-asset brokers who also offer access to local shares, but do not have HIN,” Mr Smoker added.

OpenMarkets Australia is a full market participant of the ASX, Chi-X, NSX and SIM VSE, where the firm trades, clears and settles its own trades.

The company was founded in 2012 and rapidly grew into one of the largest brokers in Australia. The firm was founded by computer programmer Rick Klinck in 2009. From the get go, the brokerage was designed to be an automated broker aimed at providing a competing alternative to big banks.