LONDON, July 18, 2003 (PRIMEZONE) -- Refco Overseas Limited ('ROL'), London and Saxo Bank ("Saxo"), Copenhagen, announced a reciprocal distribution arrangement through which clients of each institution will gain access to an improved offering of capital markets instruments.
Under this agreement, ROL, one of the leading global providers of derivatives and futures brokerage activities, will offer their clients a new multi-product trading platform in a joint initiative as a white labeling partner with Saxo. Saxo is a global investment bank focused on providing technological solutions for capital markets trading, worldwide.
Saxo will, in turn, offer its clients direct access to key financial futures markets delivered via the specialist infrastructure of ROL. "This is the right time for us to deliver a true multi-product platform to our clients," comments Nigel Watts, Head of Investor Services at ROL. "Our clients expect first class service and real-time access to the capital markets, so this engagement with Saxo is a logical and well-timed step for us to make".
For ROL, the decision to partner with Saxo signals another phase of expansion into online trading. "We like the real-time prices and execution capabilities, the multi-product platform and the access to Saxo capital markets analysis as well as the ability to provide our own," explains Watts. "For our clients, the added selection of instruments and the relative ease of use is a key addition to our current offering."
For Copenhagen-based Saxo Bank, the inclusion of financial futures expands its product suite to meet increased customer interest. "This is all about finding the right partner," comments Saxo Bank Co-CEO Kim Fournais. "We have been working with Refco to coordinate our systems to make this happen. Their strength in futures and our FX, CFD and Options focus complement each other. The real winner here, of course, is the client -- both our direct clients and our partners -- with more access, more convenience, more selection."
The new platform, to be called Refco Market Access, will offer clients the ability to trade futures, foreign exchange (spot, forward and options), cash equities and CFDs as well as providing access to real-time news and a comprehensive charting and technical analysis package customizable by individual users. By adding financial futures to the SaxoTrader, Saxo now expands its platform to include FX, CFDs, Options, physical stocks, and Managed products and plan to add global fi xed income by the end of the year.
ABOUT SAXO BANK A/S
Saxo Bank A/S is a global investment bank headquartered in Copenhagen, Denmark, serving the investment needs of capital markets traders throughout the world. With more than 200,000 registered members on its website, Saxo Bank is a leader in IT solutions combining practical capital markets expertise with thoughtful technical applications. SaxoTrader -- Saxo Bank's proprietary multi-product online trading platform -- offers investors from around the world unique participation in the world's most liquid markets. From the same margin account, our clients invest in multiple combinations of currency, share and derivatives trading online and in real-time. And now, with this announcement, clients of Saxo Bank gain access to Financial Futures.
Saxo Bank actively engages in the creation of sustainable partnerships with leading financial institutions across five continents. These White Label Partnerships combine the IT expertise behind our online trading platform, Back Office account management systems and Saxo Bank's experience in serving capital markets investors with the local capability and knowledge of our regional partners. With clients and partners in over 115 countries, Saxo Bank is the preferred choice for serious traders worldwide.
ABOUT REFCO OVERSEAS LIMITED
Refco Overseas Ltd. (ROL), authorised and regulated by the Financial Services Authority, is the European hub of Refco Group Ltd., LLC, a diversified financial services organisation with operations in 14 countries. ROL offers global market access as a clearing member of the world's largest Exchanges while providing quality services to a broad range of Investors. In addition to its futures brokerage activities, ROL is a major broker of cash market instruments, including foreign exchange, government securities, domestic and international equities and Over-The-Counter financial and commodity products.