Venturing further in to the Asian markets after establishing a solid footing in APAC via its Singapore office, Danish multi-asset brokerage house Saxo Bank has revealed plans for further expansion in the region. The company has partnered with Wallstreet CN and LeanWork, which significantly enhances the ability of the brokerage to tap into the lucrative Chinese market.
The move follows up on the announcement of Saxo Bank’s launch in the Shanghai Free-Trade Zone in September 2015.
Chinese traders will be gaining access to over 30,000 instruments to trade the markets via online Trading Platform WEEX, which has been developed by one of the leading financial content providers in the country, Wallstreet CN, and local financial technology company LeanWork. The Open API making the connection possible which Saxo Bank launched last year in the aftermath of its trading platform upgrade is enabled by the Danish brokerage.
The company has been actively expanding its white label partnerships in the aftermath of the release of SaxoTraderGO and its REST based Open API due to the expanded customization possibilities for its clients.
Commenting on the announcement, the CEO of Saxo Bank Kim Fournais said: “This unique partnership underlines the strength of Saxo’s Open API which with limitless customization options will increase the power of trading technology now and in the future. This truly is a win-win for all parties and at Saxo Bank we are excited to be working with two exceptionally successful start-ups which empower Chinese speaking investors.”
Wallstreet CN currently boasts over 15 million monthly unique visitors per month
Saxo Bank and Wallstreet CN have also partnered with local fintech start-up LeanWork to be able to capitalize on the popularity of the website which has been one of the most rapidly developing financial news portals in the country, currently boasting over 15 million monthly unique visitors per month.
The founder and CEO of the the news portal Wu Xiaopeng commented on the deal: “The global reach of Saxo Bank and the local touch of LeanWork and Wallstreet CN combined will make WEEX, the trading platform, a powerful value proposition for Chinese speaking investors.”
The exponential growth of Wallstreet CN since the portal was founded as a blog in 2013 was enabled by venture capital investments from two local investment funds - China Ping An and Hai Tong Securities.
Fintech startup LeanWork has ventured into the partnership after creating multiple broker solutions which led to the firm gaining significant market share in China. With over 30 developers across Greater China, the company is key to the three way partnership.
“LeanWork’s local understanding and strength in IT development makes the best local user experience a reality." added Darren Qian, CEO and founder of the Fintech firm.
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