Saxo Bank, a Danish bank specialized in providing online trading services, said on Tuesday it has partnered with India’s ICICI Securities, a subsidiary of ICICI Bank, with which Indian traders gain access to the SaxoTraderGO mobile trading platform.
As a result of the partnership, ICICI Securities’ clients on the CICIdirect.com investment portal, which number about four million, will be able to diversify their investments outside of the Indian domestic market and access multi-asset investment opportunities via SaxoTraderGO.
„Through our partnership with Saxo Bank, we have now brought investment opportunities in Equity Markets, ETFs and Bond Markets across 24 countries to our customers at their fingertips. This we believe will help them to diversify their portfolio outside of India,“ Shilpa Kumar, managing director and CEO of ICICI Securities, said.
Saxo Bank’s mobile platform is offered by more than 100 financial institutions across the globe through a white label partnership. It provides Saxo Bank’s partners with access to the bank’s multi-asset trading and back office infrastructure through its own Open API.
“This partnership once again highlights our ongoing commitment to be a trading facilitator for banks and brokers around the world,” said Kim Fournais, co-founder and CEO of Saxo Bank. “India is an incredibly important growth market with a growing number of investment professionals and a very tech-savvy population. ICICI Securities has established itself as one of the leading investment firms in India and will now be able to offer their clients access seamless to global capital markets,” he added.
ICICI Securities is a unit of ICICI Bank, one of the leading Indian private banks and retail brokerage. It offers offline and online financial product distribution via the portal ICICIdirect.com.
SaxoTraderGO is the mobile version of Saxo Bank’s proprietary trading platform SaxoTrader. It is based on HTML 5 and is available for devices with Android and iOS operating systems, in addition to web devices. It offers access to a wide range of markets, including forex, contracts for difference (CFDs), stocks, futures, options and bonds.
Saxo Bank, set up in Copenhagen in 1992, offers about 30,000 trading instruments, including forex, binary options, contracts for difference (CFDs), stocks, bonds, and futures. The company holds a banking license from Denmark’s Financial Supervisory Authority (FSA). The group operates through its subsidiary companies across Europe, Asia and the Middle East, Australia, South America, and South Africa.