Saxo Bank, a Danish bank specialized in providing online trading services, said on Monday it has collaborated with Nasdaq Commodities, which will enable it to provide small and mid-sized enterprises (SMEs) direct access to the Nordic Power futures on its mobile trading platform SaxoTraderGO.
The move is part of Saxo Bank’s ongoing strategy to expand its offering. The broker said it intends to add more products throughout the year, but provided no details.
“We are very pleased to partner with Nasdaq and leverage our technological prowess to make markets more efficient through innovation and provide access to products previously not available to SME clients in the Nordic region looking to hedge their power risk,” said Patrice Henault, a Saxo Markets representative. “We have seen a growing interest in our utility offering and are glad to be able to add Nordic energy to our offering, that thus far has focused on Dutch energy,” he added.
With the latest addition, Saxo Bank clients gain access to one of Europe’s leading markets for power products.
“Nasdaq Commodities welcomes Saxo Bank and looks forward to the introduction of a new segment of financial players to the Nordic power market,” Magnus Haglind, head of Nasdaq Commodities, said. “As part of our long term strategy we see this as a vigorous contribution in Nasdaq’s position as an innovator and a textbook opportunity for SME clients and investors to enter the Nordic power market,” he added.
Nasdaq Commodities is a brand used by NASDAQ for the worldwide suite of commodity related products and services. Its offerings include power, natural gas and carbon emission markets, tanker and dry cargo freight, fuel oil, seafood derivatives, iron ore, electricity certificates and clearing services.
NASDAQ is a globally provider of trading, exchange technology, information and public company services.
Saxo Bank, set up in Copenhagen in 1992, offers about 30,000 trading instruments, including forex, binary options, contracts for difference (CFDs), stocks, bonds, and futures. The company 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.