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Saxo Bank Announces Intention To Speed Up Development Of Trading Systems

Saxo Bank, the online specialist in trading and investment, has announced the acquisition of a 40% stake in Initto, the Danish owned software and IT services provider. Initto has around 200 employees based mainly in India and Ukraine and the acquisition of Initto will enable Saxo Bank to continue to support and speed up the development of its trading systems.

Designed to meet the varying needs and demands of financial investors and traders, Saxo Bank has developed four specialised and integrated trading platforms; the downloadable SaxoTrader, browser-based SaxoWebTrader, compact SaxoMiniTrader and phone-based SaxoMobileTrader.

Mikael Munck, CEO of Initto, commented: "Initto provides a wide range of customized IT services and software engineering solutions to clients. We have been very successful in offering and integrating our services into the organisation of our clients. We offer access to a wide range of international specialists that focus entirely on delivering high quality solutions to our clients' allowing them to focus on core competencies, freeing up time for innovation and value creation. This is the secret of our success which we are certain Saxo Bank also will benefit from".

Since its establishment in 2003, Initto has grown by an average of 50% per year and expects to enhance its service offerings with the support of Saxo Bank as a strong financial partner. Initto is headquartered in Ballerup near Copenhagen with a representative office in Oslo. Initto will continue to develop software and provide services to its existing client base.

Datum: 04 November 2009
Bron: Press release Saxo Bank

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