Saxo opens in Tokyo
Approximately 80% of the Saxo Bank Group's Asia foreign exchange trading volume emanates from Japan. The initiative is a service office to provide support to Japanese institutional partners in FX. Japanese regulatory approval was not required.
Kim Fournais, Saxo Bank co-chief executive in Copenhagen, said around 10% of the combined earnings of Saxo Bank come out of Japan. The bank has 11 partners in Japan, but he would only name Kakaku.com Financial, Traders Securities, Astmax and Hirose.
The
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