Saxo Bank Boosts Transaction Revenue by Millions of Dollars per Day in China by Teaming with CDNetworks
Company Size
1,000+
Region
- Asia
- Europe
Country
- China
- Denmark
Product
- SaxoTrader
- Web Performance Suite
Tech Stack
- Cloud-based infrastructure
- CDNetworks’ cloud-based infrastructure
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Customer Satisfaction
- Revenue Growth
Technology Category
- Infrastructure as a Service (IaaS) - Cloud Computing
- Platform as a Service (PaaS) - Connectivity Platforms
Applicable Industries
- Finance & Insurance
Applicable Functions
- Business Operation
- Sales & Marketing
Use Cases
- Edge Computing & Edge Intelligence
- Real-Time Location System (RTLS)
Services
- Cloud Planning, Design & Implementation Services
- System Integration
About The Customer
Saxo Bank is a leading international investment bank that specialises in online global trading and investment. In addition to direct services provided to consumers and businesses, Saxo Bank developed a white-label solution called SaxoTrader that is used by many global financial institutions. The multi award-winning SaxoTrader enables investors to trade Forex, CFDs, ETFs, Stocks, Futures and FX Forwards and Options from one, fully integrated online platform. SaxoTrader offers a wealth of market information and all of the state-of-the-art technical tools and features needed to trade successfully. The SaxoTrader platform comes in several forms – a Web-based application, a mobile application for Apple iOS and Google Android, and a desktop application for Microsoft Windows. Saxo Bank’s executive team views the expansion of SaxoTrader into emerging markets as critical to the bank’s longterm strategic growth.
The Challenge
Saxo Bank, a leading international investment bank, was facing a challenge with its online trading and investment platform, SaxoTrader, in China. The demand from investors and institutions within China to access the SaxoTrader platform grew significantly, and so did the need for accelerating the performance of the application in China. The latency caused by the distance between the Denmark-based datacentre and China, along with China’s vast geography and complex Internet peering, resulted in slower performance. Fast transaction times are critical to stock, bond, and foreign exchange trading. As little as one second can result in lost revenue from incomplete or incorrect trades based on out-of-date market information. Saxo Bank also wanted to ensure the same customer experience in China that the SaxoTrader platform is known for around the world. Saxo Bank quickly realised that doing business in China needed a different approach.
The Solution
Initially, Saxo Bank sought to host and serve SaxoTrader from a datacentre located within mainland China. However, after careful research, they concluded that a single datacentre would not meet their performance goals and therefore needed to look for other solutions. The IT team from Saxo looked at several vendors, however, they lacked the local presence needed in China. Saxo Bank’s IT team engaged CDNetworks to accelerate SaxoTrader in China initially, eventually branching out to other emerging markets. The combination of CDNetworks’ Web Performance Suite and its in-China personnel and infrastructure met Saxo’s needs. CDNetworks is able to facilitate financial transactions for SaxoTrader with 25 local POPs (Points of Presence) throughout mainland China. CDNetworks is the only global CDN that can effectively accelerate web transactions including financial and eCommerce in China. Saxo Bank performed extensive testing of the SaxoTrader Web-and-Client-based application running on CDNetworks’ cloud-based infrastructure. Testing took place across multiple regions of China.
Operational Impact
Quantitative Benefit
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