FX news: Microsoft and Saxo open window for retail
Saxo Bank and Microsoft have launched a retail multi-asset platform, called MSN Trader, that will be available on the MSN Money site.
Only available in the UK for moment, traders are able to deal in equities, FX options, over 7,000 CFDs, futures, exchange-traded funds and bonds.
Setup has been a win-win situation for both companies: MSN Trader is Saxo’s own WebTrader, so Microsoft has not had to pay for a new platform, while it has a ready-made audience on MSN Money. For Saxo it means more flow and a higher profile.
The only conceivable threat to roaring success is Google, which could wage in with its own version of the same thing. That is not as unlikely as it sounds; Google has already moved into financial data and analytics .
Kim Fournais, CEO and co-founder of Saxo Bank, says: “This is no doubt one of the biggest deals Saxo Bank has made so far and we are both proud and humble to join forces with Microsoft. New and improved distribution channels are as important as transparency, price, products and services, which is why the cooperation between Microsoft and Saxo Bank is so powerful.