GENTOFTE, Denmark, Jan. 29, 2007 (PRIME NEWSWIRE) -- Saxo Bank is proud to announce that Monex, an internet-based brokerage serving approximately 750,000 clients, has chosen to build its next-generation FX platform in partnership with Saxo Bank.
Following extensive trials, Monex FX Pro will be introduced to active clients from Monday January 29, 2007. This is the biggest deployment to date of Saxo Bank's "thin client" web-based solution, which was recently developed as an alternative distribution channel to the SaxoTrader, Saxo Bank's advanced multi-asset downloadable platform.
Monex FX Pro includes live trading on 21 currency pairs, including the Singapore dollar (SGD), Hong Kong dollar (HKD) and South African rand (ZAR). Monex FX Pro also offers a margin ratio of 5% and the ability to leverage up to 20 times initial deposits. Other enhancements include one-click trading, trailing stop orders and an integrated price board that allows clients to trade on a single screen with immediate access to rate view, charting, and summary client account information from anywhere, at any time.
Speaking prior to the release of Monex FX Pro, Kevin Ashby, Chairman and CEO of Saxo Capital Markets Pte Ltd. said the bank was honored to join forces with Monex Inc., an acknowledged Japanese industry leader.
"Monex Inc. is at the absolute cutting edge of Japan's thriving online trading environment. The organisation shares our commitment to high-quality execution technology and service, supports our vision of the potential for online FX trading in Japan, and is committed to providing their clients with a highly competitive trading experience. We are delighted that Monex chose to work with Saxo Bank in this next step in their development of this exciting FX market," said Ashby.
Oki Matsumoto, president of Monex Inc., commented: "It's been a great pleasure working with Saxo Bank, and we are excited to be able to offer Saxo's state-of-art FX trading platform to our clients in Japan. I believe the international collaboration between Saxo and Monex will bring us to the next stage of FX trading business in Japan."
About Saxo Bank A/S
Saxo Bank A/S is a modern investment bank specializing in online investments in the international Capital Markets. Saxo Bank enables clients to trade currencies, shares, CFD contracts, futures, options and other derivatives as well as portfolio management via our online trading platform -- SaxoTrader. SaxoTrader has been internally developed by Saxo Bank and is available to today's investor directly through Saxo Bank or through one of our global partnerships as an integral part of their own infrastructure. One of Saxo Bank's significant areas of business is White Labelling, which is the development of tailored versions of the online trading platform to other banks and brokerage houses. Saxo Bank has more than 70 White Label Partners and thousands of clients in 177 countries. The bank's website www.saxobank.com has approx. 65,000 visitors every day. Saxo Bank currently employs more than 800 employees from 45 different countries. The bank is headquartered in Denmark, with operating offices in London and Singapore, and an IT development center in St. Petersburg, Russia.