Zonamérica is Uruguay’s free zone, offering tax incentives for financial and industrial activity and as a result having attracted a significant number of global financial institutions to establish their regional headquarters in the area.
The latest addition is Saxo Capital Markets, opening its new office in the South American business zone in order to be closer to its customers in the region and offer a service that is fully adapted to the needs of Latin American investors.
According to Saxo Capital Markets, the new operation will be the nerve center for all business in Latin America for private customers. The company aims to reinforce its commitment to Latin America and is taking one step further in providing all of its customers in the region with a service that is completely adapted to their investment needs.
The Uruguayan broker, which was founded in 2005, has full authorization from Uruguay’s Central Bank and was acquired in 2012 by Saxo Bank, a leading Danish investment and Online Trading bank worldwide.
Luis Simões Pereira, Director of Saxo Capital Markets Uruguay, expands further on the company’s establishment in the region:
“With this new opening, we are expanding our presence on a continent with some of the most effervescent economies in the world. We've seen a significant and constant increase in trading among Latin American investors, largely due to the improved economic situation and the quick development of technological infrastructure. The aim of this new office is to develop the business even more and become closer to our customers and their needs. We are continuing to expand our offer and adapt it to Latin American investors through our modern multiple assets platform”.
Saxo Bank's Founders and CEOs Kim Fournais and Lars Seier Christensen said in a joint statement:
“The opening of the new office in Montevideo is another milestone in Saxo Bank’s history and global expansion. Some of the most up and coming economies in the world are located on this continent and we anticipate an increasing number of Latin American investors to ask for a broader range of financial products such as Forex , international stocks, futures and options. By having a presence in this market, Saxo Bank and our new office are well positioned to facilitate these demands together with our institutional clients.”
The Saxo Capital Markets website, latin.saxomarkets.com, was recently updated to reflect the entity’s new philosophy based on its close customer relations and extensive product offering in Latin America. Saxo Capital Markets offers private investors access to 20,000 financial instruments including corporate shares traded on more than 30 stock markets, 160 currency pairs, 8,400 CFDs, 1,500 ETFs and ETCs, futures and more. These instruments are available through SaxoTrader, a platform designed for PCs; SaxoWebTrader, accessible from any Internet browser and applications for the iPhone, iPad and Android which give access to markets from any of these mobile devices.
The Saxo Bank Group was founded in 1992 by its co-CEOs Kim Fournais and Lars Seier Christensen. Saxo trading platforms have been decisive in the company’s success in the online trading sector for more than a decade. Since its creation, Saxo Bank has updated and improved its platforms to meet the needs of operators and investors in a constantly changing industry. The latest proof of this commitment to offer the best technology are its new trading applications for the iPad, iPhone and Android devices which were recently awarded by the prestigious publication World Finance. The decision to expand in the Latin American region is part of the bank’s ongoing development strategy.
Since 2006, the Saxo Bank Group’s geographic print has quickly expanded and the Danish bank is now present in 20 countries, covering the main world financial centres like London, Zurich, Paris, Milan, Madrid, Dubai, Moscow, Singapore and Hong Kong, and now, Montevideo. The Saxo Bank Group is the owner of banks and brokers all over the world and its customer base currently spreads throughout 180 countries. In all, Saxo Bank has more than 1,300 employees and its advanced trading systems are capable of completing more than 100,000 transactions a day.
