"I would say one of the big themes over the past 12 months has been a normalisation of FXPB," says Lucian Lauerman, global head of electronic distribution at Saxo Bank, which has been voted Best Prime-of-Prime House at the 2017 FX Week Best Banks Awards. "We have seen a return in client appetite from a few FXPBs and a few entrants in the FXPB space. And, importantly, three- and four-way agreements are becoming more straightforward again," Lauerman says
Saxo Bank’s Head of FX Prime Brokerage, Peter Plester, said: “If a client was to develop the tools required to be able to provide effective aggregated liquidity internally, there would be a lot of cost and resources and the client would spend a lot of time talking to several liquidity providers. By outsourcing to us, we save them time and money.”
Peter Plester, Head of FX Prime Brokerage at Saxo Bank, explains how technology is enabling prime of prime brokers to fill the credit gap in the FX market. “We are one of the few PoP brokers that by default don’t put our own prices in that stream because we don’t want to be conflicted with our clients,” he says. “Our interests are aligned with our clients rather than against them.”
Peter Plester, Saxo’s Head of FX Prime Brokerage, joins a roundtable of leading industry experts to examine the state of play in prime brokerage.
Saxo Bank won Best FX Prime-of-Prime House at the 2016 FX Week Best Bank Awards. “Our interests are completely aligned with our clients’ interest and therefore our aim is to get them the best possible execution,” commented Peter Plester, head of FX prime brokerage at Saxo Bank.
Saxo Bank has announced it is boosting its FX Prime Brokerage solution with the addition of a cross-collateralisation facility between PrimeXM sites in New York, London and Tokyo where it provides FX direct market access.
e-Forex speaks with Peter Plester, Head of FX Prime Brokerage at Saxo Markets, the Institutional Division of Saxo Bank Group.
Peter Plester, Head of FX Prime Brokerage, commented on prime brokerage at Saxo Bank: "A few years ago, clients were primarily focused on price and leverage. It was always seen as good to secure the maximum amount of leverage, even for those not planning to use it. Today, those are not the most important factors for clients – the first questions they ask are about things like service and technology."