Do not invest more money than you can afford to lose.
Saxo Bank, a Danish bank specialized in providing online trading services, said on Tuesday it will form a white-label partnership with Chinese fintech company Phoenix Finance. The two entities have signed a memorandum of understanding and are expected to launch an integration process in the first quarter of 2017.
The strategic partnership will be based on Saxo Bank’s Open API, which procides wide range of customizations of Saxo Bank’s multi-asset investment and trading technology. As part of the deal, Phoenix Finance will integrate Saxo Bank’s investment and trading capabilities directly into its own applications and systems.
“Without having to develop its own solution, which might take years and be costly, Phoenix will be able to offer their clients a stronger investment and trading product by utilizing Saxo’s award-winning technology,” said Adam Reynolds, CEO for Asia Pacific at Saxo Bank. „Saxo Bank on the other hand gets a new distribution channel in new markets and segments as Phoenix Finance has an unparalleled reach to overseas Chinese investors,” he added.
Thanks to the partnership, Phoenix Finance will be able to offer clients access to international equity and fixed income offerings available with Saxo Bank, which is expected to be of special interest to Phoenix Finance customers.
“Phoenix is ecstatic about partnering with Saxo Bank, the leading global financial technology provider. Through this relationship, Phoenix will be able to expand its product depth and provide our millions of investors with a more diverse product portfolio and innovative analytical tools,” Vince Zhang, president of Phoenix Finance, said.
Just recently, Saxo Bank partnered with EFG Hermes, a leading financial services provider in the Arab World, to integrate their proprietary platforms SaxoTraderGO with EFG Hermes One.
Saxo Bank holds a banking license from Denmark’s Financial Supervisory Authority (FSA) and acts as a brokerage firm and a market maker, offering trading in more than 30,000 instruments, including forex, binary options, contracts for difference (CFDs), stocks, futures, and bonds. It also offers traditional banking services through its unit Saxo Privatbank. The group works with retail and institutional clients alike via 25 offices and has subsidiary companies across Europe, Asia and the Middle East, Australia, South America, and South Africa.
Saxo Bank’s trading platform offering consists of in-house built SaxoTrader and SaxoTraderGO, its mobile version that keeps gaining momentum.
Beijing-base Phoenix Finance is a financial technology that operates an online financial information and wealth management platform. The company has over 3 million registered users and total transaction volume of around RMB 30 billion. It is an affiliate of Phoenix Satellite Television Holdings Ltd., a Hong Kong based multinational media conglomerate with properties in television, internet, outdoor advertising, publishing, education, culture, finance and gaming.
