Spanish independent boutique Rentamarkets has reached an agreement with Danish Saxo Bank that will enable the Spanish manager to incorporate Saxo Bank’s trading technology directly to its applications and systems.
The deal – expected to be complete by January 2018 – will provide Rentamarkets’ private, professional and institutional clients access to global markets and to different asset classes thanks to Saxo Bank’s technological development, which brings for the first time investment funds’ distribution (both belonging to Rentamarkets and third party funds).
The new generation platform – developed by Saxo Bank through the OpenAPI technology – offers a wide range of features throughout the whole investment process, from pre-investment services to post-trading services for shares.
The operation confirms Saxo Bank’s global strategy focused on providing technology to institutional and white label clients.
Henrik Alsøe, head of White Label at Saxo Bank, said: “Rentamarkets proves with this agreement its commitment to develop a business model adapted to the needs of retail clients in addition to its institutional clients’ business. This partnership plays on our mutual strengths by linking local relationships with our global infrastructure to create a unique solution.”
Guillermo Galey, responsible for Retail Clients unit at Rentamarkets, added: “The exclusive adaptation of Saxo Bank’s technology will provide our clients with a platform where they can operate with multiple asset classes and also will strengthen our offer in a time of expansion following Rentamarkets’ entry in the retail business through the acquisition of the retail client portfolio of Ahorro Corporación Financiera.”