Saxo Bank and Phoenix Finance to form strategic partnership
Saxo Bank, the multi-asset investment and trading specialist, and Phoenix Finance, a financial technology firm, signed a MOU to form a white label partnership. The integration process will start in Q1 2017.
The partnership will enable Phoenix Finance to integrate Saxo's investment and trading capabilities, directly into their own applications and systems and enhance its offering to clients. Saxo Bank’s multi-asset trading technology offers access to more than 30,000 financial instruments and it is expected that Phoenix Finance's client base will have a particular interest in Saxo's international equity and fixed income offerings.
The strategic partnership will be based on Saxo Bank’s Open API, the Open API launched in 2015, offers partners a wide range of customizations of Saxo Bank’s multi-asset investment and trading technology.
Phoenix Finance is a financial technology firm headquartered in Beijing, China. The company operates an online financial information and wealth management platform focused on providing users with public and private investment opportunities worldwide. Currently, Phoenix Finance has over 3 million registered users and total transaction volume of around RMB 30 billion.
Commenting on the partnership, Adam Reynolds, CEO, Asia Pacific, Saxo Bank said,
"We are delighted to be working with Phoenix Finance on this new partnership which demonstrates our ongoing commitment to becoming a trading facilitator and technology provider for banks and brokers around the world.
The partnership is a good example of win-win created through collaboration in the financial sector. 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. 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.”
Adding to this, Vince Zhang, President, Phoenix Finance said,
"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."
Phoenix Finance is a financial technology firm headquartered in Beijing, China. The company operates an online financial information and wealth management platform focused on providing users with public and private investment opportunities worldwide. The company serves predominately mass affluent retail investors, providing diversified premium products including private placement fixed-income offerings, mutual funds, insurance and equity trading. Phoenix Finance pre-selects attractive public-market investment products and partners with financial institutions and corporations to gain access to investment opportunities traditionally not offered to retail investors. Currently, Phoenix Finance has over 3 million registered users and total transaction volume of around RMB 30 billion.
Phoenix Finance 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. Phoenix Television has a presence in over 180 countries and territories and an audience of several hundred million people worldwide.
Saxo Bank Group (Saxo) is a leading multi-asset trading and investment specialist, offering a complete set of trading and investment technologies, tools and strategies.
For almost 25 years, Saxo’s mission has been to enable individuals and institutions by facilitating their access to professional trading and investing through technology and expertise.
As a fully licensed and regulated bank, Saxo enables its private clients to trade multiple asset classes across global financial markets from one single margin account and across multiple devices. Additionally, Saxo provides institutional clients such as banks and brokers with multi-asset execution, prime brokerage services and trading technology.
Saxo’s award winning trading platforms are available in more than 20 languages and form the technology backbone of more than 100 financial institutions worldwide.
Founded in 1992 and headquartered in Copenhagen, Saxo employs more than 1500 people in financial centres around the world including London, Singapore, Paris, Zurich, Dubai and Tokyo.