Saxo Bank, the leading Fintech specialist focused on multi-asset trading and investment, has today announced that its transformative fixed income offering, available on mobile via SaxoTraderGO, has won the Best Mobile Trading Initiative at the 2018 Sell Side Technology Awards.
The Sell Side Technology Awards recognise the leading technologies and third party vendors in their areas of expertise through an auditable and transparent methodology developed by the publication’s senior journalists.
The launch of the fixed income service, which covers liquid government and corporate bonds, was part of Saxo's mission to democratise trading for investors and mid-sized institutional clients. Through Saxo Bank’s digital bond trading solution, clients can connect with the entire global bond market, including over 5,000 investment grade and high yield corporate and government bonds in 20 different currencies.
Built on OpenAPI and fully accessible through any browser on a desktop, tablet or mobile device, SaxoTraderGO is pioneering mobile trading, moving the industry away from the legacy systems of the past.
The fixed income launch comes at a particularly relevant time when, due to the best execution requirements of MiFID II, there has been a move away from the highly inefficient Request for Quote (RFQ) manual trading models which in most cases do not explore the depth of liquidity and the range of prices available in the market place.
Furthermore, Saxo Bank’s fixed income fee model is commission-based and is aligned with MiFID II's requirement for greater transparency in fee structures.
Commenting on the win, Simon Fasdal, Head of Fixed Income, Saxo Bank said,
“We are extremely pleased to have won this prestigious industry award which recognises the transformative nature of our fixed income offering. Through our fixed income service, clients receive the same mobile trading experience as they are accustomed to for their equity trading, offering both speed of execution and transparency."