Banca Generali and Saxo Bank strike digital trading deal

Eugenia Jiménez
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Banca Generali’s management board has approved an agreement with the Danish Saxo Bank to provide access to a unique range of digital and global trading services to Italian clients.

The partnership – which has a duration of eight years and the possibility of being renewed upon expiry – aims at offering Italian clients an innovative platform for advanced trading based on Saxo Bank’s technology.

A new entity – BG SAXO Sim – will be established as a result of the agreement, comprising a standalone board of directors of seven members and a steering committee composed by the two partners’ CEOs, CFOs and COOs.

BG SAXO Sim, expected to start operating in H2 2018 following regulatory approval, brings an innovative business model, primarily targeted to financial advisors and their clients (B2B2C), but also to potential individual clients (B2C), as the platform is easily accessible for both professional traders and clients who prefer to carry out their operations autonomously.

Saxo Bank is globally recognized as one of the leading fintech banks in Europe and Asia, with a multi-assets platform supported by a range of digital services — not only trading but also dynamic hedging services — with a particular expertise in FX.

Gian Maria Mossa, Chief Executive Officer, Banca Generali, said: “We are pleased to partner with one of the best companies in the world for digital trading services, and its outstanding, innovation-oriented management team. This partnership opens up new opportunities for our bank, which is expanding its exclusive solutions with a range of excellent digital services, and especially for our network of financial advisors and clients, to whom our private bank will be able to provide an even more extensive range of tools which will add value and greater choice.”

Kim Fournais, CEO and founder, Saxo Bank added: “We are very proud to partner with Banca Generali and the cooperation is testament of how partnerships are a transformative force that can ensure a best-in-class client experience. With Saxo Bank’s unique technology stack and Banca Generali as a very strong local partner, clients benefit from the best trading experience with regards to product, platform, price and service. We believe that the trading and investing industry can thrive if it leverages mutual strengths of different market participants and are fully supportive of the open banking model.”

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