It seems like only yesterday that Saxo Bank was expanding its operations by acquiring the Deger Menkul Degerler brokerage in Turkey and adding their name to the brand. But this acquisition, which took place in May 2012, is no longer the latest feather in Saxo's hat: the brand has just announced its acquisition of NVN Securities, Agente de Valores, a fully-licensed Uruguayan broker that will now be named Saxo Capital Markets, Agente de Valores.
Luis Simoes Pereira, a Saxo Bank employee for the past 6 years, will be heading the new venture, and he said about the undertaking in the company's press release:
"?With this acquisition, we aim at developing the business further by being closer to our clients and their needs. We will continue to extend our offering and tailor it to the Latin American investor through our state-of-the-art multi-asset platform." He stressed that Saxo Bank has been working with NVN Securities for several years and that the company is entirely confident in the brokerage's operations.
Saxo Bank is headquartered in Denmark and registered as a licensed bank in Denmark, an accomplishment achieved in 2001. The brokerage opened in 1992 and has slowly expanded its trader base from those based solely in Europe to traders based throughout the world. In fact, the company offers its website in 39 countries and nearly as many languages, an offering far wider than most of the top Forex brokers offer. Considering the company's rapid expansion in recent months and its continued commitment to building its brand on the global level, I would say that it's safe to expect similar news announcements in the near future from this Forex brand.