Saxo Capital Markets HK Becomes Participant of SEHK

Saxo Capital Markets HK Limited (Saxo), the online trading and investment arm of Saxo Bank, has further penetrated the Hong Kong capital market by becoming a participant of The Stock Exchange of Hong Kong (SEHK), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEX) with the objective of establishing and maintaining the stock market in Hong Kong.

Participants can trade various securities products such as equity securities, equity warrants, exchange-traded products, derivative warrants and Callable Bull/Bear Contracts on the exchange. As an exchange participant, Saxo will accelerate its business growth ambitions, expand its securities product portfolio and enhance its distribution and capabilities.

To improve operational efficiency and fulfill general clearing obligations, Saxo appointed HSBC as its third-party clearing service provider.

"We're thrilled to join one of the world's premier international trading networks to reinforce our advantage in the market - offering our clients and partners unparalleled access to relevant products across asset classes. By joining forces with the HKEX, we can offer our clients even more efficient trade execution and a broader suite of products," said Richard Douglas, CEO of Saxo Capital.

"We warmly welcome Saxo as an SEHK participant. The addition of new international participants like Saxo helps add vibrancy to our markets. HKEX is committed to enhancing the competitiveness and resilience of our markets, working together with our partners and stakeholders to further elevate Hong Kong's status as an international financial center," said Wilfred Yiu, Chief Operating Officer and Co-Head of Markets at HKEX.

"We are pleased to offer Saxo operational, liquidity and capital benefits through our Third Party Clearing solution. Our real-time post trade platform offers seamless integration between the client and the depositories from market clearing to client settlement, asset servicing and IPOs. We continue to invest in these solutions to give our broker-dealer clients a seamless post trade experience," added Rafael Moral Santiago, Regional Head of Asia Pacific, Middle East and North Africa for Securities Services at HSBC.

Earlier this month, Saxo Bank released its trading data for December 2022​, showing a monthly decrease in demand across fx market, commodities market, equities market and fixed income market.

The bank's latest listing plan suffered a setback. Saxo Bank had intended to seek for a listing on Euronext Amsterdam by dealing with Disruptive Capital Acquisition Company Limited (DCAC), a special purpose acquisition company listed on the exchange. However, the bank in December called off the proposed business combination with DCAC​, explaining "the timing is not optimal".