Saxo Bank just made another major step in its ongoing expansion – it entered the very attractive but highly regulated Brazilian market and will now offer direct online futures trading including the USD/BRL cross. Brazilian market, just like the Chinese and Indian markets, is very closely regulated and it’s not a free economy in the sense we understand it. Entering this market is next to impossible, certainly for forex brokers. Forex brokers operate there just like in China and India under the table trying to avoid regulatory scrutiny. Local regulator, CVM, is closely monitoring the situation and is battling foreign brokers much more effectively than its peers in China and India. That’s why entering this market is simply priceless for any broker as more than getting a share of the market Saxo Bank gets to be there amongst the very first, that is in a pole position to be a major, if not the largest, player.
Saxo Bank launches four futures contracts for online and direct trading, tracking the Bovespa Index and USD/Brazilian Real currency cross.
Brazil is considered the most attractive Latin American market for investors.
Saxo Bank, the specialist in online trading and investment, has launched four futures that will, for the first time, offer investors who are not residents in Brazil direct access to the Brazilian market. The products include the Bovespa Index and USD/BRL cross and enable investors to gain exposure to one of the currently most buoyant economies and hedge risks in their portfolios.
With this launch, Saxo Bank provides investors with four futures investment instruments –the BOVESPA Index, IBOVSPA Index Mini, BMF US Dollar Future and Mini BMF US Dollar– that are available from 15 April on all of the bank’s platforms (SaxoTrader, SaxoWebTrader and SaxoMobileTrader).
Moreover, Saxo Bank expands its coverage to over 20 futures markets and more than 80 trading venues which can be accessed via a product range comprising more than 22,000 financial instruments.
In a statement, Pedro Brigham, director of the Latin region for Saxo Bank, says:
“The rise in commodity prices has put Brazil on investors’ radars. Its excellent economic growth, political stability and a liquid market where over 3.5 billion US dollars are traded on a daily basis have made the country the clear leader in Latin America at a time when investors increasingly demand greater access to emerging markets”.
Claus Nielsen, Executive Vice President and Head of Markets at Saxo Bank, adds:
“The launch of futures trading in Brazil marks a significant milestone for Saxo Bank, and we are proud to be able to offer our global client base access to this vibrant economy. We look forward to expanding the list of available instruments in Brazil and to further add trading venues in emerging countries to our platform.”
Read more: http://www.tradingfloor.com/posts/alan-plaugmann/product-news-saxo-bank-adds-brazilian-futures-exchange-3394
About Saxo Bank
Saxo Bank is a leading online trading and investment specialist with a worldwide client base. The three specialised and fully integrated trading platforms; the browser-based SaxoWebTrader, the downloadable SaxoTrader and the SaxoMobileTrader application are available in over 20 languages. Saxo Asset Management accommodates high-net worth private clients and institutional investors. In 2010 Saxo Bank continued the diversification of its business with acquisitions of Saxo-E*Trade Bank, a specialist in online investment, and Brørup Sparekasse, a Danish savings bank. The Saxo Bank Group is headquartered in Copenhagen with offices throughout Europe, Asia, Middle East and Australia.