Saxo Capital Markets, the Australian unit of the Danish multiasset brokerage Saxo Bank, has signed an agreement with local online stockbroker OpenMarkets, reports Investor Daily.
This will allow clients of Saxo to invest in Australian shares via Holder Identification (HIN) structure. On their part OpenMarkets’ clients will have access to Saxo’s “extensive list of global equities with multi-currency settlement”.
“Thanks to our new partner (OpenMarkets), Saxo will be the first broker to offer a HIN solution on a singular, consolidated multi-asset trading platform,” Ben Smoker, Saxo Capital Markets Australia chief executive, told Investor Daily.
“Our partnership with Saxo will result in us being able to offer trading in global securities from one cross-collateralised cash account and we will do this at competitive brokerage and FX rates,” said OpenMarkets chief executive Andrea Marani, quoted by the same site.
OpenMarkets is an Australian online stockbroker who provides traders, advisers and intermediaries with execution-only brokerage services for trading on the Australian markets. Its technology allows access to third party integration. The partnership network of OpenMarkets includes banks, robo advisers, administration platforms and software developers.
Saxo Capital Markets (Australia) is a wholly-owned subsidiary of Saxo Bank. It provides trading of over 30 000 assets, including forex, equities, forex options, equities options, CFDs, bonds, etc.