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   1306

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.

Authorities to Study Bankrupt QuadrigaCX

Canada Revenue Agency sent a request for access to the tax info from Oct. 1 2015 to Sep. 30, 2018
18 September 2019   43

The Canadian Revenue Agency (CRA) intends to examine corporate declarations that ceased to exist as a result of the bankruptcy of the QuadrigaCX bitcoin exchange, The Globe and Mail reports.

CRA sent a request for access to the tax reporting of the exchange from October 1, 2015 to September 30, 2018, that is, on the date when QuadrigaCX tentatively began problems with the withdrawal of funds.

The E&Y auditor, acting as the trustee of the exchange, intends to discuss the tax request and obtain permission from the court to disclose information.

At the same time, the company noted that one way or another they are forced to comply with the CRA requirements, although this will take a lot of time and delay the payment of compensation to victims.

At the beginning of the year it became known that QuadrigaCX lost access to user funds by $ 190 million, and somewhat later, Indian authorities confirmed the death of the founder of the exchange, Gerald Cotten.