The FINANCIAL — JSC Galt & Taggart has enabled its clients to access global capital markets and invest on a multi asset basis. The innovative offer has been reached by a white label partnership between Saxo Bank, the multi-asset trading and investment specialist, and JSC Galt & Taggart, a wholly owned investment banking subsidiary of BGEO Group PLC listed on the main market of the London Stock Exchange.
The new service offers a flexible, secure and competitively priced tool to make multi-asset investments globally. Georgians have now got the opportunity to get involved in capital market trade all over the world without having to leave their home, via PC, smartphone or tablet.
The new offer targets not only local consumers but also foreign traders. The new platform will allow foreigners to trade with Georgian stocks. “It means that Georgia is becoming not only a logistics and transport centre in the region, but also a financial centre. The new deal will encourage the inflow of capital to Georgia and accordingly – economic development,” said Irakli Gilauri, CEO at BGEO Group PLC.
“Our partnership with Saxo Bank enhances our clients’ trading practice by bringing the latest expertise to the market. This collaboration with Saxo Bank will enrich Galt & Taggart’s services and better position the company to help local and regional investors explore investment opportunities and offer greater access to global capital markets. I want to congratulate the Galt & Taggart team on the completion of this key milestone in their aim to develop capital markets in the region,” Gilauri said.
“Galt & Taggart is the first investment bank in the region to sign a white label partnership with Saxo Bank and bring the latest trading technology that will allow our clients to have direct online access to financial markets and receive full service across the trade cycle,” said Archil Gachechiladze, Chairman, Galt & Taggart.
JSC Galt & Taggart is a wholly-owned subsidiary of BGEO Group PLC (BGEO:LN) which offers a wide range of investment banking and investment management services through its Investment Banking, Asset Management, Brokerage, Wealth Management, and Research units.
BGEO Group PLC is a UK incorporated holding company of a Georgia-based banking group with an investment arm. Its primary business is JSC Bank of Georgia, the leading Georgian bank by total assets. The banking business offers a broad range of retail banking, corporate banking, investment management and P&C insurance services. Bank of Georgia serves approximately 1.9 million client accounts through one of the largest distribution networks in Georgia including 246 branches.
The new partnership will further bolster the build-out of Saxo Market’s business platform for its growing institutional client bases of which white label partnerships are a key element. White label partners outsource trading technology to Saxo, and offer their end-clients access to Saxo’s superior trading platforms. Today, more than 120 banks and brokers trust Saxo with outsourcing their trading technology.
“We are proud to get the opportunity to cooperate with such a respectful partner as Galt & Taggart. It is important to note that Bank of Georgia is a bank of high reputation on the international market. The Bank has an opportunity to boost the country on an important level of financial operations. Georgia is becoming a financial and logistics hub of the region. So, we will be a part of the development of this segment. In addition, we will open a window for Georgian consumers and allow them to trade with their stocks on financial markets,” said Lars Seier Christensen, Co-founder and Co-CEO at Saxo Bank.
“The partnership is the first of its kind in the region and our aim is to kick-start a true digitalisation of high growth frontier markets. With more than 100 white label partners around the world today, Saxo takes the lead in transforming the way traders and investors access trading opportunities,” said
Matteo Cassina, Global Head of Lines of Business at Saxo Bank.
Founded in 1992, Saxo Bank is one of the leading players in global online trading, providing both private and institutional clients with a cutting-edge platform that delivers effective, multi-asset trading from a single account. The Bank has 1,450 employees in 26 countries. 30,000 financial instruments are available on its platforms. 17.3 million trades were executed in 2013 by 87,000 clients.
“Saxo Bank has always had a passion for democratising trading and levelling the playing field for traders and investors. In doing so, Saxo Markets, the Institutional Division of Saxo Bank Group, looks to well-regulated markets where our solution can add value to local financial institutions. We believe better access to trading technology in the region, through leading financial institutions like Bank of Georgia, will revolutionise the way private investors access opportunities in the Eurasian region,” said Cassina.
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