Egypt-based investment bank EFG Hermes announced Wednesday signing a strategic partnership agreement with Danish multi-asset brokerage Saxo Bank. The partnership will enable full integration of Saxo Bank’s SaxoTraderGO platform with EFG Hermes’ new online trading platform, EFG Hermes One.
The strategic partnership between the firms will deliver to clients of EFG Hermes access to Saxo Bank’s SaxoTraderGO platform via EFG Hermes’ new online trading platform, EFG Hermes One. The solution is strongly optimised for the regional needs of clients with special focus on financial instruments in the MENA region. Just as is the case with Saxo Bank’s offering, the solution also gives broad access to global financial markets across a variety of asset classes.
Saxo Bank was founded in Egypt over 30 years ago and is focused on the Middle East and North Africa (MENA).
The companies shared in their announcement that EFG Hermes One is only the first product on which the companies will be working together.
“MENA is a market with many interesting trading opportunities and by integrating Saxo Bank’s multi-asset, award-winning platform with EFG Hermes’ regional offering and reach, we are levelling the playing field and enabling a wide range of investors and traders to access a broad range of investment opportunities by equipping them with the latest trading and analytical tools.” Commenting in the official announcement, said CEO and co-founder of Saxo Bank, Kim Fournais.
Elaborating on the new offering for the bank’s clients the CEO of EFG Hermes Group, Karim Awad, said: “We want to revolutionise the way our clients trade and take control of their financial future through innovative product offerings. The launch is the first step in a partnership that will see us expand our brokerage product offering, including those developed in partnership with Saxo Bank, to compelling new markets as we continue our transformation into a financial services corporation with access to MENA and frontier markets.”
“EFG Hermes One reflects our commitment to innovating on the product front to meet the changing needs of our diverse client base. Our partnership with Saxo Bank is the natural next step in delivering this vision as we continue to create value for our clients and shareholders alike,” added Ahmed Waly, EFG Hermes Co-head of Securities Brokerage.
