Saxo Capital Markets has taken the initiative on transparency, launching a quarterly review for its trading platform clients and calling on other financial services firms to do the same.
Saxo Capital Markets chief executive Anthony Griffin said it was a level of oversight that should be applied to every Australian Financial Services Licence holder.
“By ensuring transparency and security, our clients can focus their energy on core activities of investing and trading,” Griffin said.
The online trading and investment specialist is aiming to provide clients with peace of mind by checking clients’ trading accounts and segregated trust bank accounts to ensure balances can be matched and reconciled.
It is an assurance the bank is not using client funds for hedging or other commercial operations, Griffin said.
