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28/01/2008: Saxo Bank Joins Reuters Prime Brokerage For Matching With Jp Morgan

London and Copenhagen, 28 January: Saxo Bank and JP Morgan today announced a prime broker agreement that will make Saxo one of the first, fully deployed clients of the newlyenhanced Reuters Prime Brokerage for Matching service.

The agreement will open a new channel of inter-bank liquidity for Saxo, giving the bank’s clients access to greater liquidity and increased accuracy of trading data for their currency pair operations.

“Saxo Bank provides 160+ currency pairs to its clients and the Reuters agreement will enhance the service and pricing on offer, especially in the less liquid currency pairs and markets," says Shailendra Robin Patel, global head of business development at Saxo Bank.

Commenting on the deal, Saxo Bank Co-founder and joint CEO, Lars Seier Christensen says: “We are delighted to extend our existing relationship with JP Morgan and to become one of the first clients of the enhanced Prime Brokerage for Matching on Reuters. These agreements are testament to our commitment to offering our clients a market-leading FX service through innovation.”

The agreement is an extension of the existing liquidity agreement between Saxo Bank and JP Morgan. Under the agreement, JP Morgan will act as intermediary between Saxo Bank and the thousands of international banks that trade FX on a daily basis using Reuters Matching tools.

“Reuters Prime Brokerage for Matching opens up new opportunities for more of our customers, giving them access to one of the premium sources of liquidity in the interbank market,” comments Jas Singh, Global Head of Treasury at Reuters.

The new Reuters service builds on the existing model by allowing institutions to access liquidity and trade on Reuters Spot Matching via keyboards as well as a trading Application Product Interface (API).