Swiss FX Bank, Dukascopy SA has announced the opening of a representative office in Moscow, following a series of global expansion initiatives primarily in the regions of Asia and Europe where its existing offices are located.
As per the announcement, these initiatives are part of the bank’s global expansion strategy which included the recent opening of Hong Kong and Kiev offices, with further plans to open offices in Shanghai, Kuala Lumpur and other regions in the near future.
Dukascopy confirmed to Forex Magnates today, that 15% of its global client base speaks Russian, thus necessitating the establishment of local operations to support this.
The Moscow office will be headed by Mr. Sergey Borisovitch Arkhipov, and will serve to cater to the requirements of the company’s increasing client base and to its existing accrued business in the region. Initially, the branch will be operated by at least 10 employees, but may be reviewed in the coming months.
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In August, Forex Magnates covered the regulatory license approval that Dukascopy received as a Securities Dealer from the Swiss Financial Market Supervisory Authority (FINMA), which regulates the trading of CFD’s by Swiss Banks. The bank had mentioned plans to extend its CFD product range to 200 instruments by the year- end.
Speaking to Forex Magnates today regarding the establishment of the representative office, Alain Broyon, CEO of Dukascopy Bank SA explained,
“Dukascopy Bank SA has recently launched its representative office in Moscow. The establishment of an office in Moscow follows the recent opening of Hong Kong and Kiev offices, and it is part of the global expansion strategy of Dukascopy Bank.”
“The dedicated team of Dukascopy representatives in Moscow will provide informative support to FX traders in Russia, as well as participate in marketing activities to ensure the fast growth of our presence in this fast developing market. The first public appearance of Dukascopy’s Moscow team to the Russian FX community is scheduled for the Moscow Forex Expo event on the 1st and 2nd of November,” concluded Mr. Broyon.
This particular corporate statement was followed by the company’s announcement that Dukascopy TV has rejoined Reuters Insider.