Tokyo, Japan, 1 July 2009 – Saxo Bank A/S, the online trading and investment specialist, announces today that it has launched its FX service in Japan with the acquisition of Astmax FX Co., Ltd. (Astmax FX). The purchase is approved by relevant regulatory bodies in Denmark and Japan.
Saxo Bank opened its Japan office in 2008 providing support to institutional clients. The acquisition and renaming of Astmax FX to Saxo Bank FX K.K. allows Saxo Bank to offer FX related products to the Japanese retail market under the Type 1 Financial Instrument Dealer license with the Japanese Financial Services Agency. Saxo Bank FX’s client funds will be held in a separate trust bank account.
Wataru Kojima, Representative Director of Saxo Bank FX, says, “We are pleased to offer our award-winning platform, the SaxoTrader, to Japanese retail investors seeking a secure platform that provides them with the right tools to trade online confidently.” Kojima adds, “With Saxo Bank FX, investors will have access to over 155 FX crosses, state-of-the-art charting and analysis tools.”
Saxo Bank FX’s parent company, Saxo Bank A/S is a fully licensed and regulated European investment bank. It has won numerous awards such as FX Week’s Best Bank for FX award and Best Retail Platform award by Profit and Loss magazine.
“Japan is a key financial center in Asia and Saxo Bank believes that there is room for growth in the Japanese market for online trading of FX and other financial products,” says Kim Fournais, co-CEO of Saxo Bank. “The decision to offer FX services to Japanese retail investors gives Saxo Bank a stronger foothold into the Japanese market," continues Fournais.
Saxo Bank FX is supported by the headquarters in Copenhagen and the Asia headquarters, Saxo Capital Markets, based in Singapore.
About Saxo Bank
Saxo Bank is an online trading and investment specialist, enabling clients to trade Forex, CFDs, Stocks, Futures, Options and other derivatives, as well as providing portfolio management via SaxoWebTrader and SaxoTrader, the leading online trading platforms. SaxoTrader is available directly through Saxo Bank or through one of the Bank’s global partners. White Labelling is a significant business area for Saxo Bank, and involves the Bank’s online trading platform being customised and branded for other financial institutions and brokers. Saxo Bank has more than 120 White Label Partners and boasts thousands of clients in over 180 countries. Saxo Bank is headquartered in Copenhagen with offices in Australia, China, France, Italy, Japan, Singapore, Spain, Switzerland, UK, Czech Republic and the United Arab Emirates.
For more information, please visit www.saxobank.com
Media contact:
Fen Bai, Marketing Communications Manager, Saxo Capital Markets
+65 6303 7713
fmb@saxomarkets.com.sg
Yuji Sasaki / Sayaka Matsumoto, FBI Communications, Inc.
+81 3 5413 5161
sasaki@fbicom.co.jp / matsumoto@fbicom.co.jp
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