Saxo Bank Securities Co., the Japanese unit of Saxo Bank, a Danish bank specialized in providing online trading services, said on Tuesday it has altered the minimum margin rates for contracts for difference (CFDs) on the stocks of another two companies – Twitter Inc. and Media Analytics Corp. The changes will came into effect as of 17 February, 2016.
The margin rate for trading in CFDs on the stocks of TWTR will be increased for institutional clients to 15% from 10%, while for retail traders it remains unchanged at 20%.
Meanwhile, CFDs on stocks of MEDA will be traded with a margin of 25% for both retail and institutional cusomers, which is higher than the previous rates of 20% and 15%, respectively.
The news comes soon after Saxo Bank Securities Co. increased the margin rates on CFDs of the stocks of 12 other companies – LinkedIn Corp., Syngenta, Tesoro Petroleum Corp., Genmab, First Solar Inc., Yahoo Inc., Softbank, Netflix, Deutsche Bank, as well as Freeport-McMoran Inc., Chesapeake Energy, and Vestas Wind Power. The company said it intends to review the margins on other stock CFDs in the near future.
Saxo Bank Securities Co. recently got renamed from Saxo Bank FX Securities Co.. It is a member of the Japan Securities Dealers Association (JSDA), the Commodity Futures Association of Japan, the Financial Futures Association of Japan (FFAJ), and the Japan Investor Protection Fund (JIPF).
Saxo Bank was founded in Copenhagen in 1992. It holds a banking license from Denmark’s Financial Supervisory Authority (FSA). The group operates through its subsidiary companies across Europe, Asia and the Middle East, Australia, South America, and South Africa.
The company acts as a brokerage firm and a market maker and offers trading in more than 30,000 instruments, including forex, binary options, CFDs, stocks, futures, and bonds through its proprietary online trading platforms SaxoTrader and SaxoTraderGO.
Source: Saxo Bank Securities Co.