Finnish online financial services provider Mandatum Life is partnering with Saxo Bank Group to launch a new online trading service based on the Group’s state of the art investment and trading technology.
The new service called Mandatum Trader, which aims to provide Finnish stock investors with access to global financial markets, will become available in the first half of 2019, according to a press release by Saxo Bank.
A total of 35,000 different financial instruments including, stocks, ETFs, currencies, and commodities will become available to Finnish stock investors as well as active traders.
“We see great potential in this market, as Finland is lagging behind other Nordic countries when it comes to investing. Mandatum Life wants to offer more alternatives for Finnish investors and the global dimension of Trader service brings new alternatives for global diversification to all Finnish investors,” the CEO of Mandatum Life Petri Niemisvirta said in the statement.
The customers of the Finnish company will have a variety of platforms from which to choose. Saxo Bank is offering to its own clients SaxoTraderGO and SaxoTraderPRO, two distinct versions of its new generation software solution.
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“Clients can pick from several different investing and trading applications, so this is a very comprehensive offering catering to all investor segments with different levels of investment experience and wealth,” Odenwall says.
As part of the firms’ partnership, Mandatum Life will be responsible for onboarding and client identification while Saxo Bank will be responsible for the trading services and the technical side of the platform.
Saxo Bank’s Technology
Saxo Bank’s investment technology, which forms the basis of Mandatum Trader, is also the technological backbone of investment solutions for more than 120 financial institutions.
“We are proud to partner with Mandatum Life and support the mission to provide Finnish investors with better global investment opportunities,” the CEO and founder of Saxo Bank, Kim Fournais, was quoted as saying in the firm’s statement.
“Saxo Bank has always strived to democratize trading and investment to empower everyone with the best tools and opportunities to navigate their own financial destiny. With Mandatum Life’s new solution, Finnish investors and traders get a much better basis for managing their investments and build diversified portfolios across asset classes and geographies,” he added.
The firm has been providing its services for white labeling since the early days of the FX industry. Earlier this year, Saxo Bank deployed the professional-oriented version of its software called SaxoTraderPRO. The new software suite replaced the firm’s legacy platform based on .NET technology with HTML5.