1. What is happening with Saxo Australia?
Saxo Australia is experiencing a change in its shareholder structure.
SCM DMA Pty Ltd (DMA) will become the new majority shareholder, with plans to elevate Saxo Australia to new heights.
2. What does this mean for me?
Your trading account and the services you receive from Saxo Australia will remain unchanged. You can continue trading and managing your investments as usual. We are committed to maintaining the high-quality service and support you expect from us.
The new shareholder may introduce enhancements in services and technology to improve your trading experience, and we will keep you informed of any exciting developments.
3. Who is DMA?
DMA is a global leader in comprehensive software solutions for financial advisers and wealth managers, as well as a provider of online global trading solutions.
Based in Johannesburg, the company was formerly known as Saxo Capital Markets South Africa (SCMSA) and was acquired in 2018 by Sasfin Holdings Limited and the SCMSA management team.
4. What are the details of this transaction between Saxo Bank A/S and DMA?
DMA will acquire an 80.1% equity stake in Saxo Australia, while Saxo Bank A/S will retain a 19.9% equity stake. The transaction is expected to close in the second half of 2025.
5. Why is Saxo selling a majority stake in the Saxo Australia business?
In June 2024, Saxo Bank A/S undertook a comprehensive review of its global strategy. This review encompassed an evaluation of Saxo’s international presence, the jurisdictions from which it would accept clients, as well as its product offerings and governance structures.
Following this strategic review, DMA expressed interest in acquiring a majority stake in Saxo Australia's business. The proposal includes retaining Saxo Bank A/S as the provider of trading technology and platform services.
6. What is the rationale behind the partnership between Saxo and DMA?
Saxo is known for its leading retail investing platform, exceptional high-touch service, and broad range of investment products. This partnership seeks to extend that excellence to the B2B (business-to-business) space by leveraging DMA’s expertise in software solutions for wealth managers, asset managers, and financial advisers in the Australian market. DMA will complement Saxo Australia's business by introducing new tools and capabilities, enhancing our service to Australian clients.
7. What does this mean for the assets and cash I have on the Saxo Australia platform? Will Saxo Australia’s existing custodial relationships remain in place?
There is no anticipated change in custodial arrangements. Your assets and cash will continue to be safeguarded by tier-one global asset custodians and remain readily accessible for investing and trading via the platform. All client funds will continue to be held in a segregated client trust account. You will experience no interruption in your ability to view, buy, or sell assets through the platform.
8. What will change about the business? Will any of its offerings change?
Saxo Bank A/S will continue as a shareholder and importantly also continue as Saxo Australia’s trading and platform technology provider. As such, current clients will notice limited substantive change to the product they know and love.
Once the transition to DMA’s majority ownership is complete, we aim to build upon Saxo Bank A/S’s world-class platform offering with additional products, tools and features specific to Australian investors and their needs.
9. Will I retain the option to invest in ASX-listed shares with an individual HIN?
Yes, clients will retain the option to invest in ASX-listed shares with an individual HIN or via a custodial arrangement, depending on their preference.
10. Will the business continue to accept and onboard account structures such as corporate accounts, trusts, and Self-Managed Superannuation Funds (SMSFs)?
Yes, all current account structures, including corporate accounts, trusts, and SMSFs, will continue to be accepted.
11. Will you remain an Australian-run and operated business?
Our commitment to Australian high-touch support and client service remains and will not change – in fact, it will improve with more onshoring of critical client services, onboarding, and compliance staff in Australia.
Our sales team and relationship managers will remain at the company and continue to serve you, including our Head of Sales. Likewise, the Australian business’ CEO, COO, Head of Legal, and Head of Compliance will remain with the firm.
The business will benefit from certain centralised functions with DMA for processing, operations, and tech development.
12. What happens to the Saxo brand in Australia?
As part of the shareholder change, Saxo Australia will be re-branded, including a new website and investing apps. We are excited about this development and will share more details soon.
13. Where can I go for additional information, or if I have further questions?
Please contact Saxo Australia’s sales team directly at +61 2 8267 9000, or via email at privatesalesau@saxomarkets.com.