TOKYO and COPENHAGEN, June 5 /CNW/ - Saxo Bank A/S, the leading online
investment bank and E-Forex (FX) provider, announces today the official
opening of its new Tokyo office, Saxo Bank Japan K. K. The opening of the
Tokyo office is a strategic move by the Saxo Bank Group to strengthen and
expand its trading presence in the Asia Pacific region.
The Japanese financial market is undergoing major shifts as market
players continue to search for new opportunities. This has spurred an increase
in the number of technologically-savvy investors who have become better
informed to make self-directed online trading decisions.
The market size of the Japanese online financial trading business is
impressive. According to data from the Tokyo Foreign Exchange Market
Committee, online FX traders in Japan account for close to US$15 billion worth
of daily transactions. Approximately 80% of Saxo Bank Group's Asia FX trading
volume emanates from Japan.
In a joint statement issued by Saxo Bank's co-CEOs, Lars Seier
Christensen and Kim Fournais said that the new Tokyo office brings growth
potential to the Saxo Bank Group.
"We are excited about the opportunities presented by Japan's very dynamic
online trading landscape - Japanese investors are technology-driven and there
is growing demand for the online trading services offered by Saxo Bank.
"We service customers in more than 180 countries with Saxo Bank's
state-of-the-art technology, and strongly believe we will complement and
enhance the local trading community."
The Tokyo office will be headed by Wataru Kojima, whose role will
encompass the establishment and development of Saxo Bank Japan K.K. Kojima
brings considerable experience of the Japanese market, and a close
relationship with Saxo Bank's institutional clients in the region.
The Tokyo office will provide support to Saxo Bank's institutional
partners in Japan and will work closely with Saxo Bank's Asia Pacific
operations Saxo Capital Markets Pte Ltd. headquartered in Singapore.
Saxo Bank started its partner business in Japan in 2002. It established
its first Japanese White Label Partner in 2004. Today, Saxo Bank has 11 White
Label Partners in Japan that will benefit from local expertise and support.
"As the second largest economy in the world and a nation with a growing
investor population, the opening of Saxo Bank Japan K. K. is a milestone for
the Saxo Bank Group. It is an exciting time to enter the market, and the team
at Saxo Bank Japan aims to secure a healthier share of the region's business,
with Japan as the key contributing market," said Wataru Kojima.
The APAC region accounted for 20 percent of Saxo Bank Group's revenues in
2006; it is now approaching 30%. This figure is expected to double within the
next five years.
The opening of Saxo Bank Japan K.K follows the recent planned acquisition
of a 35 percent holding in Tricom, the Sydney based broking house and the
acquisition of the French online brokerage, Cambiste. In November 2007, Citi,
the leading US financial services company, chose Saxo Bank as its global
partner for its online FX offering, CitiFX Pro, based on the SaxoTrader
About Saxo Bank A/S
Saxo Bank is a global investment bank specialising in online trading in
the international Capital Markets. Saxo Bank enables clients to trade Forex,
CFDs, Stocks, Futures, Options and other derivatives, as well as providing
portfolio management via the SaxoTrader, the leading online trading platform.
The SaxoTrader has been developed by Saxo Bank and is available to
today's investor directly through Saxo Bank or through one of our global
collaborations, where it forms an integral part of their infrastructure. One
of Saxo Bank's significant areas of business is White Labelling. This involves
the Bank's online trading platform being customised and branded for other
financial institutions and brokers. Saxo Bank has more than 100 White Label
Partners and boasts thousands of clients in over 180 countries. Saxo Bank
currently employs more than 1,300 employees from 72 different countries.
Saxo Bank is headquartered in Copenhagen with offices in London, Geneva,
Zurich, Singapore, Tokyo and Marbella. It also runs a representative office in
Beijing and an IT development centre in St. Petersburg. For more information,
please visit http://www.saxobank.com.
About Saxo Capital Markets
Saxo Capital Markets Pte. Ltd. is a subsidiary of Saxo Bank A/S. It
serves as the hub for Asia and holds a capital markets services license under
the Monetary Authority of Singapore (MAS). It offers a full range of worldwide
direct trade facilitation services to retail and institutional clients, and
white label partnerships to banks and brokers on SaxoTrader. Its expertise
covers FX, CFDs, Futures, Options, Equities and other derivatives.
For more information, please visit http://www.saxomarkets.com.sg.
For further information:
For further information: Media enquiries: Kate Hage, Corporate
Communications, +44-207-151-2025, firstname.lastname@example.org,