SINGAPORE, Oct. 5, 2011 /PRNewswire-Asia/ -- Saxo Capital Markets'
parent company, Saxo Bank, the online trading and investment
specialist, today announced the opening of a new representative
office in Moscow in order to respond to growing demand by Russia's
sophisticated investor base.
The opening of the Moscow office is
a strategic move by the Saxo Bank Group to strengthen and expand
its position as a leading provider of online trading and investment
solutions. The office will act as a broker boutique offering
Russian investors a broad list of exchanges and instruments
available through Saxo Bank's award winning trading platform.
There have been promising
developments in Russia this year, with retail sales growth
accelerating in August reaching 7.8% year on year (y/y).
Unemployment declined whilst real wage growth picked up to 3.9% y/y
which has filtered through to every segment from discount to
luxury. Consumers' increasing maturity and sophistication has
increased the HNW sector of the market and thus stimulated their
risk appetite and desire for better returns, which fits Saxo Bank's
investor profile.
The Moscow office will be headed by
newly appointed COO Igor Dombrovan, who says:
"Sustainable success is driven by
customer focus, and the new representative office will enable us to
have greater access to clients in Russia. The Russian retail market
has demonstrated solid growth rates over the last several years,
making the sector one of the most actively developing markets in
the economy. This has been fuelled by growth in the overall
economy, growing consumption and an increasingly organised
marketplace. The new office will enable us to further support and
educate this growing market with its highly sophisticated investor
base."
Kim Fournais and Lars Seier
Christensen, co-founders and CEOs of Saxo Bank, said in a joint
statement:
"While opening an office in Moscow
is a strategic decision to support our European expansion and
growth strategy, it has always been a priority for Saxo Bank.
Russia has always been a good market for Saxo Bank because Russian
clients are highly sophisticated investors. The new office will
enable us to provide a more comprehensive on-the-ground service to
clients and potential clients in the region."
Disclaimer:
Saxo Capital Markets Pte. Ltd.
("Saxo Capital Markets") is licensed as a Capital Market Services
provider and an Exempt Financial Advisor, and is supervised by the
Monetary Authority of Singapore.
Risk
Warning: You should carefully consider
whether trading in leveraged products is appropriate for you in the
light of your financial circumstances. You should be aware that
dealing in products that are highly leveraged carry significantly
greater risk than non-geared investments such as share trading. As
such, you could both gain and lose large amounts of money. You may
sustain losses in excess of the moneys you initially deposit and
also in excess of the margin required to establish and maintain any
positions in leveraged products.
For further information, please
see:
http://sg.saxomarkets.com/about-us/general-disclaimer
About Saxo Capital
Markets
Saxo Capital Markets Pte Ltd is a
wholly-owned subsidiary of Saxo Bank A/S, the online trading and
investment specialist. It serves as the Asia Pacific headquarters
and holds a Capital Markets Services license from the Monetary
Authority of Singapore. Saxo Capital Markets also holds a Commodity
Broker licence from The International Enterprise Singapore.
Clients can trade Forex, CFDs,
Stocks, Futures, Options and other derivatives via SaxoWebTrader
and SaxoTrader, its leading multi-asset online trading
platforms.
SaxoTrader is available directly
through Saxo Capital Markets or through one of its institutional
clients. White labelling is a significant business area for Saxo
Capital Markets, and involves customising and branding of its
online trading platform for other financial institutions and
brokers.
Saxo Bank is headquartered in
Copenhagen with regional offices in Singapore, Hong Kong, Milan,
Madrid, London, Dubai, Amsterdam, Tokyo, Athens, Zurich, Prague and
Paris. Saxo also operates representative offices in Sydney, and
now, Moscow.
Saxo's position as an established FX
house and its leading role in the foreign exchange market has been
recognised by the industry's leading reviews. In 2011, the Saxo
Bank Group picked up six awards at the Euromoney annual FX survey
for the following categories: Best Improved Overall Market Share by
Volume ($10bn - $25bn) and ($5bn - $10bn), Best Speed of Execution,
Best Research and Analytics, Best Effective Risk Management and
Execution Strategies and Best Integrated Workflow and Compliance
Solutions. Saxo Bank was also named "Best Forex Broker in Northern
Europe" and "Best White Label Solution Provider" in the World
Finance Foreign Exchange Awards 2011.
For more information, please
visit www.saxomarkets.com.sg
Media contacts:
Saxo Capital Markets Pte Ltd
Celeste Fong
Tel: +65 6303-7713
Email: [email protected]
SOURCE Saxo Capital Markets Pte
Ltd