Saxo Bank Launches FX Open Orders Module on TradingFloor.com
HELLERUP, Denmark, June 1, 2012 /PRNewswire/ --
The Forex Open Orders module provides a snapshot of Saxo Bank clients' aggregated FX open orders on 10 major currency pairs, allowing users access to the historical order book across and within currency pairs. The module makes it possible to search for concentrations of orders that might result in support, resistance or break-out points.
Hugh Taggart, Head of Content at Saxo Bank, says:
"We are excited to add the FX Open Orders module to our suite of traders' tools, which now includes FX Open Positions, FX Correlations and a real-time updating Financial Calendar. The data available in the Open Orders module significantly enhances forex market transparency by sharing as much information as possible to enable informed trading decisions."
Saxo Bank began publishing OTC options data in May last year and has since had as a core ambition to promote openness and transparency in the forex market. The Open Orders module is another tool to help achieve this. It is also the fourth interactive application released on TradingFloor.com in just over half a year.
Module features include:
- Aggregate Open Orders which shows the relative size of orders by USD value held by clients in a selection of currency pairs, and the relative proportion of buy versus sell orders by currency pair.
- Instrument Open Orders which show clients' buy and sell orders at any instance in time in a single currency pair, selected from the Aggregated Open Orders chart.
- Normalised Net Orders for a single currency pair, which shows the relative positioning of clients within a certain time horizon.
- The module is interactive, like its peer the FX Open Positions module, and users can set the start and end date to the time range they are interested in seeing data for, and drag a vertical bar to see how the open orders have changed over time. The chart data is updated hourly by default but members of TradingFloor.com can see 15-minute resolution data.
Read more about the module here: http://www.tradingfloor.com/tools/fx-open-orders.
TradingFloor.com is a trading commentary, news and analysis web site hosted, owned and managed by Saxo Bank A/S. It is an online community for people who like to trade forex, futures, options, CFDs, equities and commodities. TradingFloor.com's contributors are diverse, ranging from macroeconomists and analysts to chartists, journalists, trading advisors and people who just want to learn from the insights of others in the world of finance.
About Saxo Bank
Saxo Bank is a leading online trading and investment specialist. A fully licensed and regulated European bank, Saxo Bank enables private investors and institutional clients to trade FX, CFDs, ETFs, Stocks, Futures, Options and other derivatives via three specialised and fully integrated trading platforms; the browser-based SaxoWebTrader, the downloadable SaxoTrader and the SaxoMobileTrader application available in over 20 languages. Saxo Bank also offers professional portfolio and fund management through Saxo Asset Management who accommodates high-net worth private clients and institutional investors and provides banking services and advice to retail clients through Saxo Privatbank. The Saxo Bank Group is headquartered in Copenhagen with offices throughout Europe, Asia, Middle East, Latin America and Australia.
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