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 is a leading Fintech specialist and global multi-asset facilitator of capital markets products and services. Saxo enables private clients to trade more than 35,000 instruments from one single margin account.
Additionally, Saxo provides institutional clients such as banks and fintechs with Open Banking solutions from multi-asset execution, prime brokerage services to trading technology. Founded in 1992, Saxo Bank has embraced Open Banking from the beginning and is focused on helping clients and partners through win-win partnerships and product innovation.
Since launching its first online trading platform in 1998, Saxo Bank works to empower everyone to navigate their financial future by opening up access to trading and investment. The Saxo Group’s client assets total more than 45 billion euros, and the Group employs more than 2100 people in financial centres around the world including London, Singapore, Amsterdam, Shanghai, Hong Kong, Paris, Zurich, Dubai and Tokyo.For more information, please visit www.home.saxo.