Saxo Bank Launches Social Trading Floor
The new platform, available via tradingfloor.com, makes use of common social media conventions such as sharing trades; ranking, following, and favoriting; as well as online networks that allow traders to vet ideas. Similar applications are popular in the foreign exchange (FX) space, but Saxo says this is the first such venue to provide peer-to-peer trading across multiple asset classes, allowing investors to forego intermediation by traditional banks' sales teams.
“Having revolutionised online trading as a first mover in 1998, we now want to democratize access to trading and fund management by opening up the otherwise closed world of trading," say Saxo's co-founders Kim Fournais and Lars Seier Christensen. "We are now enabling investors to share their trades openly, interact with each other, post comments and strategies, discuss ideas, follow and copy each other. We believe that this may radically change how investors will go about trading FX, contract for difference futures (CFDs), options, traditional futures, bonds and equities, making trading a social experience."
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