Microsoft, Saxo launch trading joint venture

SAXO Bank has teamed up with Microsoft to launch a new trading platform aimed at allowing individual investors the kind of access to the markets previously enjoyed only by professionals.

MSN Trader will allow individuals access to trading in 11,000 stocks on 23 exchanges globally, as well as bonds, exchange-traded funds (ETFs), futures, FX options and CFDs.

It will also provide analysis and screening tools at the click of a button, to help investors manage risk.

The new platform, set to be launched by the two companies on Wednesday, will run off Saxo’s WebTrader trading system and will be available on Microsoft’s MSN Money website.

The joint venture is aimed at capitalising on the increased demand for execution-only stockbroking services in the wake of the financial crisis, when poor performance among fund managers meant individual portfolios took a heavy hit.

MSN Trader, which will be launched in the UK first and rolled out to the rest of Europe later on, is set to undercut many of its rivals by offering an execution charge of £8 per trade, just over half of the average commission among its rivals.