Saxo Bank A/S, an online trading platform, has announced a strategic review led by its major shareholders: Geely Financials Denmark A/S, Fournais Holding A/S, and Mandatum Group.

Founded by CEO Kim Fournais in 1992, Saxo Bank pioneered Europe's early 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 platforms, a trajectory that was supported by investments from Geely and Mandatum in 2018. Today, Saxo manages assets exceeding DKK 800 billion from over 1.2 million clients, a substantial increase from just over five years ago.

Saxo Bank's Fiscal Growth

Focused on becoming the preferred bank for investors and traders across Europe, with expanding footholds in MENA and APAC regions, Saxo Bank has added more than 130,000 clients in the current fiscal year.

Recently, S&P Global Ratings upgraded Saxo Bank's credit rating to 'A-', highlighting its strengthened financial standing and enhanced capital buffers as a systemically important financial institution.

Goldman Sachs International has been appointed as financial advisor to support Saxo and its shareholders throughout the strategic review process. However, the outcome remains uncertain, and Saxo Bank will fulfil its disclosure obligations Obligations In finance, an obligation is a financial responsibility where the terms of a contract must be met. Should an obligation between parties fail then the party who is at default may face legal action. In this scenario, the guilty party will not only have to agree to pay the set amount to fulfill the contractual arrangement but may also be responsible for covering all legal proceedings cost. Routine payments or outstanding debt of any kind are considered financial obligations, so if someone owes you In finance, an obligation is a financial responsibility where the terms of a contract must be met. Should an obligation between parties fail then the party who is at default may face legal action. In this scenario, the guilty party will not only have to agree to pay the set amount to fulfill the contractual arrangement but may also be responsible for covering all legal proceedings cost. Routine payments or outstanding debt of any kind are considered financial obligations, so if someone owes you Read this Term under relevant laws and regulations, refraining from further announcements until final decisions are made.

Asia-Pacific Growth Initiative

Earlier, Saxo Bank announced a strategic review of its operations in Australia, Japan, and Hong Kong aimed at enhancing growth in the Asia-Pacific region through potential partnerships, as Finance Magnates reported. Discussions with prospective partners are underway, focusing on leveraging Saxo's infrastructure to offer trading platforms under partner brands while maintaining customer relationships.

This approach aims to strengthen Saxo's commercial presence in Asia, capitalize on growth prospects, and create new opportunities for the company, its partners, and employees across the three markets.

In June, Saxo Bank's FX trading volume fell to $78.1 billion, marking a 1.9% monthly decline and the lowest since reporting began in 2016. However, the daily average rebounded to $3.9 billion from May's $3.5 billion. Year-on-year, monthly volume dropped by 34.6%, with daily averages down nearly 2.8%.