The Denmark-based, online trading and investment specialist, SAXO Bank has entered a licensing agreement with Cboe Global Markets, Inc to utilize its fifteen Cboe European national benchmark indices, including FR 40, DE 30 and CH 20 indices. This will allow SAXO Bank to utilize the Indices for benchmarking against European markets and the introduction of original products.
The Cboe’s indices will be available to clients on a real-time basis with historical charts via the online SAXO Trader Platform. SAXO Bank’s decision to integrate Cboe’s Europe’s benchmark indices will help in making good indices product available and will also help in targeting an entirely new product offering. The SAXO traders will be able to leverage and compare market, region and sectoral performances across Europe.
Guy Simpkin, Head of Business Development at Cboe Europe, said:
“Saxo Bank has been a leader in providing cutting-edge products and services to its clients and we are pleased they have chosen to utilise our benchmark indices. By licensing our indices, Saxo Bank clients now have access to real-time, high-quality data they need to better inform trading and investment decisions.”
Søren Nedergaard, Global Head of CFD’s and Listed Products at Saxo Bank, commented:
Saxo Bank is always looking to improve the trader’s position and with Cboe’s introduction of their European indices, Saxo Bank sees the opportunity to make a good indices product available. Furthermore, it is a strong base component for calculating the Saxo Bank Indication Of Interest price.
The Cboe’s benchmark provides market participants with a high-quality, real-time and low-cost alternative to existing benchmark indices and its performance are closely in line with comparable benchmarks. The Cboe indices are managed under the same set of rules using Cboe’s own market data that allows users to compare markets, region and sector performance across Europe.
Cboe Europe offers 57 indices across 15 markets that include 25 national indices, five pan-European indices, one pan-Nordic index, 24 sector indices (12 UK sector indices, 12 European sector indices) and two Brexit 50-50 indices. User’s of Cboe’s market data include fund managers, retail and institutional investors, financial institutions, vendors and media.