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Danish multi-asset brokerage Saxo Bank has shared with Finance Magnates that the total value of collateral held by clients of Saxo Bank has increased by €200 million ($221 million) throughout Brexit trading. With the overwhelming majority of retail traders usually losing funds around black swan events, Saxo’s traders have actually managed to eek out some gains.
The main reason for the positive development for clients is not only the massive volatility which we have seen across the board but also much higher collateral requirements which the Danish bank has put up for its clients.
Brexit could prove to brokers and traders that ... (read more)