Saxo Clients to Tell Bank Franc Repricing Must Be Reversed
This article is for subscribers only.
Retail clients at Saxo Bank A/S are stepping up their fight to have it reverse last month’s decision to reprice Swiss franc trades.
Lawyers for clients representing about 100 million kroner ($15 million) in claims say they will send Saxo a letter this week telling the Danish bank to reimburse them for losses caused when it retroactively priced franc trades at less favorable rates following Switzerland’s Jan. 15 decision to send the franc into a free float.