Danish multi-asset provider Saxo Bank has unveiled a new partnership with ICICI Securities Ltd, helping extend Saxo’s comprehensive trading and investment capabilities to Indian investors, tapping into one of the largest growth markets, per a company statement.
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ICICI Securities Ltd is a subsidiary of ICICI Bank – the group acts as one of India’s paramount integrated financial services firms. Saxo’s decision to partner with ICICI helps the group achieve a broader market penetration than ever before, allowing for a wide range of trading functionality through its digital platform.
The partnership is important for both parties, as it will effectively allow Indian investors to utilize SaxoTraderGO, the group’s flagship trading platform. Saxo’s platform will be available for all four million of ICICI Securities’ clients on ICICIdirect.com, which acts as India’s leading investment portal.
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The decision to expand its capabilities into India also reflects Saxo’s commitment to extend its trading suite to new locales, with the Asia-Pacific (APAC) region being one of the largest untapped markets for investors. By securing access to over four million traders, Saxo will also aim to solidify its presence in the region.
According to Kim Fournais, co-founder and CEO of Saxo Bank A/S, in a statement on the partnership: “India is an incredibly important growth market with a growing number of investment professionals and a very tech-savvy population.”
“ICICI Securities has established itself as one of the leading investment firms in India and will now be able to offer their clients access seamless to global capital markets. This partnership once again highlights our ongoing commitment to be a trading facilitator for banks and brokers around the world,” he added.
“Through our partnership with Saxo Bank, we have now brought investment opportunities in Equity Markets, ETFs and Bond Markets across 24 countries to our customers at their fingertips. This we believe will help them to diversify their portfolio outside of India,” explained Shilpa Kumar, MD and CEO, ICICI Securities Ltd, in an accompanying statement.