Saxo Bank to work with Nasdaq for New Investment Product

Saxo Bank, Danish brokerage, has joined Nasdaq to provide portfolio management services: the stocks are presented in the Nasdaq DW Global Momentum portfolio
07 June 2018   1449

The portfolio is concentrated on developed and emerging markets stocks, it also does not include U.S. shares. The service is aimed on the providing to customers a tailored and cost-effective way to invest in a portfolio that includes 30-40 quality stocks. The composition is built on the base of a “relative strength” ranking that is couched by Dorsey Wright (DW), which is Nasdaq stock exchange`s subsidiary for investment research provision, and tools and solutions that help investors to overcome difficulties.

By combining our unique trading technology with Nasdaq’s expertise in investment management, we create a strong alternative to more traditional asset management solutions at a very competitive price. We are proud to turn Nasdaq’s research and methodology into actionable investment opportunities. Our SaxoSelect offering is underpinned by the belief that technology will profoundly change the asset management industry. Access to technology, demand for transparency, and focus on performance will change the way individuals manage their savings.
Kim Fournais
Founder, CEO, Saxo Bank

Saxo Bank’s automated trading and investment service SaxoSelect is to add and present this new product. The technology allows customers of the Danish bank to invest in pre-selected 28 portfolios suggested by various investment advisors like Morningstar and BlackRock.

The investment landscape continues to change with developments in technology and this has helped firms to develop scale by combining the complementary strengths of different participants.
Jay Gragnani
Head, Nasdaq Dorsey Wrights’s Research and Client Engagement

In the framework of the software resolution suggested by Saxo Bank, SaxoSelect users can see each of the stocks in their portfolio. The assets that are held in the portfolio are physical shares, which can be tracked in the real time by the customers via the SaxoTraderGO platform. The new portfolio is aimed on the high growth, purchasing momentum stocks through Nasdaq Dorsey Wright’s “relative strength” methodology.

Binance Singapore Unit to Apply For License

Under the new law, aimed at regulating crypto paymetns and trading, firms must register with the Monetary Authority to receive a license
17 February 2020   70

Binance, a Singapore-based cryptocurrency exchange unit, has applied for a license under the new Payment Services Act, which entered into force on January 28.

We have already applied. We submitted the application pretty fast. Binance’s Singapore entity has been in close touch with the local regulators, and they have always been open-minded.

 

Changpeng Zhao

Founder and CEO, Binance

Under the new law, crypto companies in Singapore must register with the Monetary Authority and receive one of three licenses: an exchange of money, a standard or large payment institution. The measure is aimed at regulating payments and crypto trading using requirements for participants in the traditional finance industry. Zhao did not specify which of the licenses Binance Singapore chose.

Binance has been offering crypto-fiat trading services in Singapore since April 2019 and works with eight coins, including Bitcoin, Ethereum and XRP. The trading platform is supported by Vertex Venture Holdings, a venture division of Singapore's Temasek Holdings.