Saxo's Fournais sees major paradigm shift

Saxo Bank's co-founder, Kim Fournais, says the industry is going through a major shift in the prime brokerage and retail sectors as market participants adjust their business models in the wake of losses suffered after the Swiss franc event in January.

"I think there is a major paradigm shift happening now and the whole landscape is changing rapidly. If this industry doesn't change before it has to, regulators will clamp down on margins and leverage in my opinion," he says.

Saxo was not left