Saxo Bank, the online trading platform for private, professional and institutional investors, is to open an office in the Dubai International Financial Centre (DIFC).
The Copenhagen-based bank has received regulatory approval from the Dubai Financial Services Authority to establish an operation in the emirate in order to extend its offering to investors in the Gulf Co-operation Council (GCC) region.
Shailendra Robin Patel, chief executive for Saxo Bank in Dubai, said: “Even though most of our business is conducted online, Saxo Bank takes great pride in the high level of personal service and support we offer our clients and partners on the ground. Our DIFC office will enable us to bring our products and services closer to our clients and partners in support of our objectives to continue growing our business throughout the region.”
Saxo, which provides trading and wealth management services in a range of securities and derivatives, including foreign currency, contracts for difference, stocks, commodities, futures, options, fixed income and structured products, said it plans to use the DIFC as a springboard to open further offices in the Middle East.
Dr. Omar Bin Sulaiman, Governor of the DIFC said: "Saxo Bank is a pioneer in its industry and there is a huge demand for the services they provide investors. The Middle East will benefit from their presence here."
