Saxo Capital Markets UK Posts a Small Loss in 2015 Due to SNB Black Swan

[kreslik.news]

Saxo Capital Markets UK has just filed its annual Companies House report that shows the full accounts of the brokerage for 2015. The firm registered a 7.4 percent annual increase in trading revenues to £14.3 million ($17.4 million). Last year the company’s administrative expenses totaled £15.5 million ($18.9 million) which was higher by 71 percent when compared to the previous year.

Looking at the details, the company posted a loss of £7 million as the Swiss National Bank (SNB) removed the floor from the EUR/CHF exchange rate on January 15th 2015. As a result, the company recorded a loss of £810,484, ... (read more)