Saxo Bank Publishes OTC FX Options Market Information and Client Position Data

By Saxo Bank, PRNE
Tuesday, May 3, 2011

Saxo Bank has Begun Publishing Market Data From the OTC FX Options Market to Increase Transparency Into the Forex Market

HELLERUP, Denmark, May 4, 2011 - Saxo Bank, the specialist in online trading and investment, is first to
publish market data from the FX Options OTC market. The data, which will be
published three times a day on, will greatly enhance
traders' understanding and ability to profitably trade FX as an asset class.

This initiative signifies Saxo Bank's unique position as a leading market
maker in the interbank OTC markets and exemplifies the value that Saxo Bank's
active participation offers to its FX clients.

Information included in the posts is:

- ATM volatilities - Shows the change in volatility of currency pairs

- 25-Delta Risk Reversal - The most widely used parameter in gauging
market direction

- OTC Volume index - Based on interbank OTC FX Options trade activity

- Market Pin Risk - Shows large strikes that have traded in the interbank
market and may act as magnetic levels for the spot price in the future

- Charts - Graphical illustration of Risk Reversals and Implied vs.
Historic Volatility

- Retail Position Ratio - Shows client sentiment (bullish/bearish), based
on actual client positions

- Current FX Options Board Prices - See the competitiveness of Saxo
Bank's streaming quotes

Events in the OTC FX Options market have a direct impact on the
development in the Forex spot market. Therefore, this type of data has
historically been extraordinarily difficult and costly for traders to
acquire. Saxo Bank is making this information publicly available to anyone
interested in the Forex market, the largest and most liquid market in the

In a statement, Edward Voorhees, Global Head of Foreign Exchange at Saxo
Bank, says:

"For market makers in the OTC FX Options market the trend has for some
years been risk aversion, which has led to major institutions dramatically
reducing their market making activities. Saxo Bank has remained very
committed to its market making activities in the FX Options space. The reward
for being an active market participant is the valuable insight we gain. The
options team at Saxo Bank is very proud to be able to share these insightful
flow details with all our clients at no added cost.

"It is no longer a question whether the Forex market will become more
transparent or not. By making this kind of data publically available Saxo
Bank is taking an active role in this development. It is imperative to Saxo
Bank to build long lasting client relationships. Among other things, we do
this by supporting and educating our clients. We are proud to now offer
everyone information of this quality, especially given the history that it
has previously been almost unobtainable by traders."

Media enquiries: Edward Voorhees, Global Head of Foreign Exchange, +45-39-77-63-99, evo at; Kasper Elbjorn, Head of Group Public Relations
+45-3065-4300, press at

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