SOURCE: Saxo Bank A/S

September 27, 2007 02:07 ET

The FX Trade Is Skyrocketing

SAN FRANCISCO, CA and COPENHAGEN, DENMARK--(Marketwire - September 27, 2007) -



SAN FRANCISCO / COPENHAGEN The FX marketplace will continue to demonstrate tremendous growth in the coming years. This prediction comes from Saxo Bank, a pioneer and global market leader in online investment, following the release of the BIS Triennial survey 2007.

The BIS survey shows that traditional volumes have surged from 1.9 trillion USD per day in 2004 to a staggering 3.2 trillion USD per day in April 2007.

"The 70 percentage jump that we see in the BIS survey may be the largest ever jump since the surveys began," says Claus Nielsen, Saxo Bank's Executive Director for Trading and Market Making. "But we expect the FX marketplace to continue to grow, and Retail FX turnover is also very likely to continue to soar at an even faster rate."

Claus Nielsen points out that in terms of more traded currencies, there has been an increase in JPY and GBP crosses, as well as in the Emerging Markets currencies and spot Gold and Silver. "For many reason we see an even stronger growth over the next 3 years as FX is becoming a true Asset Class", says Claus Nielsen who is in San Francisco to participate in an exclusive Saxo Bank event for asset managers, CTAs, CPOs, financial institutions, brokerages, banks etc.

Claus Nielsen finds it noteworthy that a year ago at least in Europe not many in the street knew what a FX carry trade was about. "Now, everyone in the street knows about carry trading. The unwinding of the Carry Trade was even considered one of the reasons why stock markets fell in August", says Claus Nielsen.

He believes that FX Carry Trades as well as investing in Emerging Markets currencies to gain a high yield will add to the knowledge about FX trading and, eventually, turn it into an Asset Class.

"Another very important accelerator for FX as an Asset Class is that big retail banks like ABN, Deutsche etc. are starting to offer FX to their retail clients", says Claus Nielsen.

Saxo Bank is headquartered in Copenhagen, Denmark, with operating offices in London, Geneva, Zürich, Singapore and Marbella in Spain. It also runs a representative office in Beijing and an IT development center in St. Petersburg. One of Saxo Bank's significant areas of business is White Labelling. Saxo Bank has more than 70 White Label Partners and thousands of clients in over 170 countries.

For more Information on the BIS Triennial survey 2007:

http://www.bis.org/publ/rpfx07.htm


Media enquiries:

Saxo Bank Corporate Communications:
Kasper Elbjorn on +45 30654300
Fleming Voetmann on +45 51595036
Team-CorporateCommunications@saxobank.com

Saxo Bank Front Office | Trading & Market Making:
Claus Nielsen, Executive Director, Phone +45 3065 4027

Saxo Bank North America:
Patrick Mortensen, Regional Head North America, Phone +45 3065 4042

About Saxo Bank A/S

Saxo Bank A/S is a modern investment bank specializing in online investments in international Capital Markets. Saxo Bank enables clients to trade currencies, shares, CFDs, futures, options and other derivatives, as well as providing portfolio management via our online trading platform, SaxoTrader. SaxoTrader has been developed by Saxo Bank and is available to today's investor directly through Saxo Bank or through one of our global partnerships, where it forms an integral part of their infrastructure. One of Saxo Bank's significant areas of business is White Labelling. This involves the bank's online trading platform being customized and branded for other financial institutions and brokers. Saxo Bank has more than 70 White Label Partners and boasts thousands of clients in over 170 countries. The bank's website www.saxobank.com receives approximately 65,000 visitors every day. Saxo Bank currently employs more than 1,100 employees from 57 different countries.

Saxo Bank has its headquarters in Copenhagen, with operating offices in London, Geneva, Zürich, Singapore and Marbella. It also runs a representative office in Beijing and an IT development center in St Petersburg.





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