Saxo Markets Secures Two New Licenses from Hong Kong Regulator
- The new licenses will allow the broker to tap into the asset and wealth management business.
Saxo Capital Markets HK Limited, the Hong Kong-based subsidiary of Saxo Markets, has obtained Type 4 and Type 9 licenses from the Securities and Futures Commission (SFC) in the special administrative region.
Type 4 license will allow the company to provide advice on securities, while with Type 9 license, it can launch asset management services. The acquisition of both licenses will enable the Denmark-headquartered company to expand services in asset and wealth management.
“The licenses give us greater room to now provide more comprehensive services to clients, whether they want to trade global capital markets or invest into their future,” said Richard Douglas, Hong Kong CEO at Saxo Markets.
“It’s especially meaningful for the Hong Kong office, as Hong Kong is a key growth market for Saxo and the gateway connected to mainland China.”
New Services
Saxo Markets entered Hong Kong in 2011 and is operating in the jurisdiction with Type 1, 2 and 3 licenses from the SFC.
Additionally, the brokerage can Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term its existing Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term services to launch personalized asset management options, keeping the fees at the lower threshold.
Lester Chan, Head of Wealth Management at Saxo Markets, added: “Investors in Hong Kong now are very much digital-savvy. They are looking for an easy-to-use platform that can provide tailor-made solutions based on their financial situations, and can handle their needs through one single account with top-level professional assistance.”
Earlier in February, Saxo Markets launched SaxoInvestor, a digital platform that allows investing in securities and mutual funds. Furthermore, it has started to offer derivatives of crypto assets to clients in selected markets.
Finance Magnates earlier reported that the Danish broker onboarded 24 percent more traders in the first half of 2021 under its Singapore-regulated entity.
Saxo Capital Markets HK Limited, the Hong Kong-based subsidiary of Saxo Markets, has obtained Type 4 and Type 9 licenses from the Securities and Futures Commission (SFC) in the special administrative region.
Type 4 license will allow the company to provide advice on securities, while with Type 9 license, it can launch asset management services. The acquisition of both licenses will enable the Denmark-headquartered company to expand services in asset and wealth management.
“The licenses give us greater room to now provide more comprehensive services to clients, whether they want to trade global capital markets or invest into their future,” said Richard Douglas, Hong Kong CEO at Saxo Markets.
“It’s especially meaningful for the Hong Kong office, as Hong Kong is a key growth market for Saxo and the gateway connected to mainland China.”
New Services
Saxo Markets entered Hong Kong in 2011 and is operating in the jurisdiction with Type 1, 2 and 3 licenses from the SFC.
Additionally, the brokerage can Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term its existing Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term services to launch personalized asset management options, keeping the fees at the lower threshold.
Lester Chan, Head of Wealth Management at Saxo Markets, added: “Investors in Hong Kong now are very much digital-savvy. They are looking for an easy-to-use platform that can provide tailor-made solutions based on their financial situations, and can handle their needs through one single account with top-level professional assistance.”
Earlier in February, Saxo Markets launched SaxoInvestor, a digital platform that allows investing in securities and mutual funds. Furthermore, it has started to offer derivatives of crypto assets to clients in selected markets.
Finance Magnates earlier reported that the Danish broker onboarded 24 percent more traders in the first half of 2021 under its Singapore-regulated entity.