Saxo Bank Launches FX Binary Touch Options
Released on: July 26, 2011, 10:36 am
Author: Saxo Bank
Saxo Bank, the specialist in online trading and investment,
today announced the launch of six Binary Touch Options on its trading
platform. The Binary Touch options will initially be offered in six
currency pairs; EURUSD, USDJPY, GBPUSD, EURJPY, EURGBP, and AUDUSD.
They will be tradable from Saxo Bank’s award winning FX Options Board,
where clients are already able to trade regular FX Vanilla Options.
The launch will further extend Saxo Bank's FX offering and allow clients to trade in the world's most liquid financial market in
a simple and convenient way. A Binary Touch Option differs from a plain Vanilla
Option in that the potential gains and losses of a Binary Touch Option position is
known upfront, thus greatly simplifying the transaction. Clients may invest not only
in which direction the price will move, but at the same time express their views on
how far and over what time period.
Unlike other trading platforms that offer similar products, Saxo Bank will offer its clients the ability to
close-out their long or short positions at the current market price prior to expiry.
Gustave Rieunier, Global Head of FX Options & Forward Trading at Saxo Bank, said: "Adding Binary Touch Options trading to our platform bridges the gap between FX
Spot and FX Vanilla Options and meets the recent demand in the market for wanting to
trade in the global currency market in a simple, straight forward manner. Whether
you are a seasoned FX trader or new to investing in currencies, this is an excellent
way to add FX exposure to your portfolio.
"Saxo Bank has developed into one of the top market makers in the global FX Options
space. Adding such a simple and straight forward product to our strong liquidity and
award winning pricing capabilities is another significant improvement to our FX
About Saxo Bank:
Saxo Bank is a leading online trading and investment specialist with a worldwide client base.
The three specialised and fully integrated trading platforms; the browser-based
SaxoWebTrader, the downloadable SaxoTrader and the SaxoMobileTrader application are
available in over 20 languages. Saxo Asset Management accommodates high-net worth
private clients and institutional investors. In 2010 Saxo Bank continued the
diversification of its business with acquisitions of Saxo-E*Trade Bank, a specialist
in online investment, and Brørup Sparekasse, a Danish savings bank. The Saxo Bank
Group is headquartered in Copenhagen with offices throughout Europe, Asia, Middle
East and Australia.
Head of Group Public Relations
40 Bank Street
+45 3065 4300
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