Saxo Bank adds Cboe Europe’s indices to trading platform

Saxo Bank will use 15 of Cboe Europe’s indices on its Saxo Trader online platform.

Saxo Bank has signed a licensing agreement with Cboe Europe to use 15 of its benchmark indices on its trading platform.

The indices will be used for benchmarking against European markets and for the creation of new products, providing users of the online Saxo Trader platform with real-time and historical data.

“Saxo Bank is always looking to improve the trader’s position and with Cboe’s introduction of their European indices, Saxo Bank sees the opportunity to make a good indices product available,” said Søren Nedergaard, global head of CFD’s and listed products at Saxo Bank.

“Furthermore, it is a strong base component for calculating the Saxo Bank indication of interest price.”

Cboe Europe currently offers 57 indices, calculated in both price and net return, across 15 markets including 25 national indices, five pan-European indices and two Brexit 50/50 indices. They aim to provide investors and market participants with a low-cost, high-quality alternative to existing benchmarks.

Earlier this month, Cboe gained regulatory approval to act as a benchmark administrator under Europe’s Benchmark Regulation.

The move means the exchange group’s suite of indices are compliant with the requirements, including high standards of governance, oversight and transparency.