FNG Exclusive... It looks like the Swiss online trading market is heating up.

After we exclusively reported about the launch of FlowBank by former LCG CEO Charles-Henri Sabet this summer, another well known name is expanding its footprint in the Swiss forex space.

FNG has learned that Saxo Bank (Suisse) SA, the Switzerland subsidiary of Copenhagen based Retail FX broker Saxo Bank, has signed an agreement to acquire Strateo’s online trading activity.

As part of the transaction, Saxo Bank will take over Strateo’s customer relations in Switzerland and integrate them into its organization. In doing so, Saxo Bank is apparently taking a decisive step in the implementation of its growth strategy in the Swiss market.

The transaction closing and the migration of customers and assets are scheduled for the end of the first quarter of 2021. The parties have agreed not to disclose the amount of the sale price.

Strateo is a Swiss bank specializing in online trading, which has been based in Geneva since 2009. The owner of Strateo, Arkéa Direct Bank SA (France), will now focus on markets located outside Switzerland.

Strateo offers its clients an online trading platform for trading on the main stock exchanges of the world and across most asset classes. A partnership already links Saxo Bank (Suisse) SA and Strateo, with Strateo customers having access to derivative products through a white-label version of the Saxo Bank platform.

Renato Santi, CEO of Saxo Bank (Suisse) SA, said:

“Strateo has, beyond its clients interested in trading, a large investor segment, namely clients with a longer investment horizon requiring asset management services, as well as a solid base of independent asset managers. Switzerland is a key market for the Saxo Bank group and our growth strategy is to increase market share in these segments made up of more demanding and long-term clients. With the acquisition of Strateo’s online trading business, we are taking an important step. We are pleased to welcome Strateo clients to Saxo Bank (Suisse) SA. ”