Saxo Partners with FairXchange for Liquidity Management with Data Analytics

<p>To
bolster global online trading and execution services, Saxo Bank has officially
joined the FairXchange’s ecosystem. In this collaboration, FairXchange is providing Saxo Bank with its liquidity management platform, Horizon, as the
financial institution aims to further optimize its operations in the dynamic
Foreign Exchange (FX) markets.</p><p>Saxo
Bank Forges Strategic Alliance with FairXchange</p><p>FairXchange,
a data science firm specializing in FX markets, emphasizes the importance of
ensuring trading in the FX space is commercially sustainable for all
participants, including both buy-side and sell-side entities. </p><p>The
partnership with Saxo Bank highlighted the commitment to fostering data-driven
dialogue with Liquidity Providers (LPs) and optimizing liquidity for the
benefit of both the bank and its clients.</p><p>Guy
Hopkins, the CEO and Founder of FairXchange, expressed enthusiasm about welcoming
Saxo Bank to the network, emphasizing the bank's early adoption of data-driven
dialogue with LPs and their deep understanding of collaboration with liquidity
partners. He stated: "We are delighted to help them continue in that
spirit of collaboration, working with them to help them maximize opportunities
for them, their LPs, and their clients."</p><p>James
Dewdney-Herbert at Saxo commented: “The relationship with FairXchange is already
off to a very strong start. Since we went live with FairXchange we have already
noted a material uplift in engagement from our trusted liquidity partners,
leading to greater profitability both for them and for us, ultimately resulting
in better liquidity for our clients.”</p><p><a href="https://www.financemagnates.com/tag/saxo-bank/">Saxo Bank</a>, founded in
1992 in Copenhagen, Denmark, has been a trailblazer in making global financial
markets accessible to a broader audience. With the launch of one of the first
online trading platforms in Europe in 1998, the bank has consistently provided
professional-grade tools and facilitated easy access to global financial
markets for investors worldwide.</p><blockquote><p lang="en" dir="ltr">Saxo Bank joins FairXchange's data-driven ecosystem of LPs – “The relationship with FairXchange is already off to a very strong start. Since we went live with FairXchange we have already noted a material uplift in engagement from our trusted liquidity partners, leading to gr… <a href="https://t.co/VBRCLba3NK">pic.twitter.com/VBRCLba3NK</a></p>— The Industry Spread (@industryspread) <a href="https://twitter.com/industryspread/status/1747197656294740038?ref_src=twsrc%5Etfw">January 16, 2024</a></blockquote><p>Forex
Trading Soars: 13.6% Monthly Surge in December</p><p>Saxo
Bank reported a <a href="https://www.financemagnates.com/forex/fx-volume-on-saxo-pushes-decembers-overall-figure-higher/">month-over-month increase of 13.6%
in forex trading volume</a> for December of the
previous year, reaching $13.8 billion, the highest since March, as highlighted
by <a href="https://www.financemagnates.com/">Finance Magnates</a>. The average
daily volume for FX rose to $6.4 billion, up from the previous month's
$5.4 billion, showing a year-over-year increase of 16.3%. Despite a drop of 11.1% compared to December 2022, the overall monthly volume at Saxo increased 1.8%
to $369.5 billion, driven by heightened demand for forex.</p>

This article was written by Tareq Sikder at www.financemagnates.com.