Online Danish investment bank Saxo Bank has acquired NVN Securities, Agente de Valores, a broker fully licensed by the Uruguayan Central Bank, in an undisclosed deal.
Upon receiving approval from Uruguay regulators, the new entity will be rebranded as Saxo Capital Markets and will be headed by Luis Simões Pereira, who joined the bank in 2006.
Pereira said, the trustworthy operations of NVN Securities allow the company to expand its presence in Latin America by offering customized multi-asset platform.
Using a branded version of Saxo Bank’s multi-product platform, the Uruguayan broker has been a White Label client of the bank since 2006, offering clients complete control, integrated back office and real-time risk management tools.
The Danish bank provides retail investors access to 20,000 financial instruments, including stocks of companies listed on over 30 global stock exchanges, 160 currency pairs, 8,300 CFDs, 1,500 ETFs and ETCs, futures among others.
Founded in 1992, Saxo Bank delivers private investors and institutional clients trading and investment strategies, which include FX, CFDs, ETFs, Stocks, Futures, Options and other derivatives.