White Label Clients White Label Clients
Monthly Notification, Saxo Bank
28 August 2017

FX orders will now be triggered on an independent ECN price feed

By replacing the underlying feed used to trigger resting orders from our own price feed to an independent ECN price feed, that offers a combination of bank a...

By replacing the underlying feed used to trigger resting orders from our own price feed to an independent ECN price feed, that offers a combination of bank and non-bank liquidity, we contribute to the reliant and effective functioning of the global wholesale FX market. With Saxo and White Label platforms that primarily facilitate market access with prudent leverage; we are truly on the side of our clients. Our main goal is to help clients succeed because we know that we succeed, when they succeed.

In addition, and further to the introduction of Order Driven Execution in November 2016, which provides a safer and more efficient way to fill client orders, we now route all Stop orders externally to be filled against ECN liquidity as a first priority. This is a safety precaution to ensure an accurate fill in line with the actual liquidity and market depth when faced with very directional client flow.

We will also be replacing the underlying price feed in the charts in the near future with the same ECN price feed offering an independent neutral price throughout Saxo and White Label platforms.

Why have we done this?

Because it is potential challenge in event driven and/or disorderly market scenarios, we want to move away from bank price feeds that are indicative last look quotes with the bank interest and internal risk appetite built in.  An ECN price feed provides a much broader, neutral and firm set of liquidity (including bank and non-bank providers), in which prices are more consistently present both in good times and in disorderly or illiquid markets.