Markit to Provide First CFD Trade Reporting System to Saxo Bank

By Saxo Bank, PRNE
Wednesday, June 8, 2011

LONDON, June 9, 2011 -

Markit, a leading, global financial information services
company, today announced that Saxo Bank, the online trading and investment
specialist, will begin to report its contract for difference (CFD) trades via
Markit BOAT, the trade reporting platform, in September 2011.

Saxo Bank will become the first financial institution to
report its CFDs on Single Stock trades on a voluntary basis, in a bid to
bring greater transparency to this fast growing market.

Sophia Kandylaki, Director, Head of Markit BOAT at Markit,
said: "We are excited that such a large player in the CFD market has decided
to report its trades via Markit BOAT. We will be enhancing our platform to
identify CFD trade reports with a unique trade flag. This will differentiate
these trades from all other cash equity trades reported to our venue and
support Saxo Bank's efforts to make this market more transparent."

Claus Nielsen, Head of Markets at Saxo Bank, said: "Saxo Bank
has always been a leader and innovator when it comes to transparency and
fairness in the trading arena. We are committed to set new standards and by
taking an over the counter product like CFDs, and publishing our execution to
Markit BOAT, we will bring added value to our clients. This initiative makes
the CFD product 100% comparable with the listed stocks traded at the exchange
which will have a positive impact on the industry."

CFDs are over the counter (OTC) contracts between two parties
in which the buyers pay the sellers the difference between the current value
of an asset and its value at contract time. CFD trades do fall within the
scope of the European Union's Markets in Financial Instruments Directive
(Mifid) but trades are not required to be reported to the market.

Markit BOAT gives users access to trade reports on an average
of EUR 375 billion of OTC trades in equities every day. This is equivalent to
approximately 70% of the daily volumes reported on all European OTC equity

About Markit

Markit is a leading, global financial information services
company with over 2,200 employees. The company provides independent data,
valuations and trade processing across all asset classes in order to enhance
transparency, reduce risk and improve operational efficiency. Its client base
includes the most significant institutional participants in the financial
market place. For more information, please see

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-ETrade Bank, a specialist in online
investment, and Brörup Sparekasse, a Danish savings bank. The Saxo Bank Group
is headquartered in Copenhagen with offices throughout Europe, Asia, Middle
and Australia.

Media enquiries: Caroline Lumley, Director, Corporate Communications, Telephone: +44(0)20-7260-2047, Email: caroline.lumley at; Kasper Elbjorn, Vice President, Group Public Relations, Telephone: +45-3977-4300, Email: press at

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