Danish High Court Fines Saxo Bank $320,000 in SNB Dispute

[kreslik.news]

The high court of eastern Denmark (Østre Landsret), one of Denmark’s two ‎‎high courts, has ordered Saxo Bank A/S to pay out compensation exceeding ‎‎$300,000 in the latest lawsuit stemming from the SNB’s Black Swan.‎

In ‎January 2015, the Swiss National Bank’s surprise decision to remove the ‎Swiss franc’s euro peg has left brokers and their clients on treacherous ‎ground.‎

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A client named Greyzone ApS claimed Saxo wrongfully deducted funds ‎‎from his account after the broker repriced trades, which had initially been ‎confirmed as completed at better rates, later that day. He ... (read more)