Monday, October 30, 2006

SAXO BANK GOES INTO THE FLOW OF FREE TRADING

Recently announced, Danish investment bank Saxo will abolish the minimum ticket fee and percentage commission on Danish stocks. Saxo will therefore become the very first Scandinavian bank to approach to zero-commission online share trading. Improving the financial conditions for shareholders and online traders is definitely one of the key features to gain success along global benefits of free online trading, increased competition and better efficiency among customers in online trading. Global market as a whole is generally headed toward increasingly smaller commissions. According to Christopher Noon from Forbes, Saxo's zero-commission trading extends offer to retail clients as well as new clients with a minimum account balance of 50,000 Danish Krone ($8,393). These clients can trade online with zero-commission up to 50 times a month on the Danish stock market. Saxo's Vice Chief Executive is not expecting to take away business from traditional online traders such as E*Trade, IFX Markets, Charles Schwab and StockTrade. According to his words, only 10% to 20% of e-trade business actually comes from equity trading. Saxo's furtherized ambitious agenda also includes plans to access of the its initiative before exporting the idea across borders.

3 comments:

Anonymous said...

Everything is going through a lot of changes. There are new and emerging technologies that are integrating into the current ones. Most business transactions and systems are also being influenced and affected by these integrations between the technology and the business transactions. One particular and clear example of such is the online stock market. The stock market is already interactive and active trading itself, but when it became online, the possibilities and potentials further boosted and sprouted. Internet stock markets make up for more convenient and adjusted stock market trading transactions.

Online Stock Trading

Rocks said...

Very true. Newly integrated innovative technologies will play the leading role in the long-term process of online stock trading. Coupled with business transactions, adaptive technology is probably the key to making online trading more transparent, easy, fast and flexible to reach. I agree Mr. Rockwood that internet trading integrated into strongly supportive technological devices puts a major emphasis on the adjustment of market transactions. It will also be very interesting to see how banks and financial sector in general will react to furtherly boosted stock trading on the market. In fact, it's also about productivity of stock-exchange itself in order to make it more attractive through easier devices and supported technological feedback.

Thank you for the comment.

Regards, Rocks

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