Yes. Your clients' funds will continue to have the same protection under BinckBank N.V.’s banking license and the Dutch deposit guarantee scheme. While the Saxo Bank group is taking legal ownership of BinckBank N.V. and Saxo Bank will become our trading name, your clients’ assets will remain covered by the deposit guarantee scheme that applies in the Netherlands and is based on European standards.
Under the terms of the Dutch deposit guarantee scheme, up to EUR 100,000 per client is insured in the event of Saxo Bank’s bankruptcy. If your client has a joint account, two sums of EUR 100,000 are insured. As an additional layer of protection, our clients’ investments are housed in a separate custody company. This custody company is, legally, completely separate from Saxo Bank. The only activity of the custody company is the custody of our clients’ investments. This means that if Saxo Bank were to experience financial difficulties, your clients will not be at risk of losing their investments.
Due to an extension of the Securities Giro Act Reverse (WGE), the use of a custody company is becoming less and less necessary as more securities fall under the legal protection of the WGE. Saxo Bank will therefore keep more securities in accordance with the WGE. The WGE offers your clients more complete protection because, after delivery, your clients become the direct owners of the securities. Therefore in the event of bankruptcy, these client securities are not included in Saxo Bank's estate. Investments such as shares and bonds are covered by the Securities Giro Act (WGE). As of 1 April 2016, the protection of options and futures is also regulated in the Securities Giro Transactions Act.