Saxo Bank Extends FX Options Expiries

Fazzaco learned that Saxo Bank, a retail FX and CFDs broker, has extended FX Options expiries, with the relaunch of FX Options contracts for the tools below: CAD/CHF, CHF/JPY, CHF/NOK, EUR/CHF, GBP/CHF, and USD/CHF, with maturities of up to one year.

Previously, the offering was limited to 180 days on account of negative rates in CHF. This limitation, however, has been fixed with the latest rate hikes. In addition, the broker has removed minimum price steps for FX orders, which makes it possible to set order prices in the same price increments as the desired crosses are traded in, typically down to deci-pip level.

In early November, Fazzaco reported that Saxo Bank registered the average daily volume for FX trading in October ​of $6.1 billion and total FX trading volume for the month at $127.9 billion, representing a month-over-month drop of 12.8 percent compared to the prior month's $146.7 billion.