Japan's Monex selects Saxo technology for online FX trading system

Source: Saxo Bank

More pairs, more leveraging, one-click-trading for serious Japanese traders: Monex, the Tokyo-based online securities house, has launched Monex FX Pro, a new internet-delivered trading system powered by Saxo Bank.

Saxo Bank is proud to announce that Monex, an internet-based brokerage serving approximately 750,000 clients, has chosen to build its next-generation FX platform in partnership with Saxo Bank.

Following extensive trials, Monex FX Pro will be introduced to active clients from Monday 29 January 2007. This is the biggest deployment to date of Saxo Bank's "thin client" web-based solution, which was recently developed as an alternative distribution channel to the SaxoTrader, Saxo Bank's advanced multi-asset downloadable platform.

Monex FX Pro includes live trading on 21 currency pairs, including the Singapore dollar (SGD), Hong Kong dollar (HKD) and South African rand (ZAR). Monex FX Pro also offers a margin ratio of 5% and the ability to leverage up to 20 times initial deposits. Other enhancements include one-click trading, trailing stop orders and an integrated price board that allows clients to trade on a single screen with immediate access to rate view, charting, and summary client account information from anywhere, at any time.

Speaking prior to the release of Monex FX Pro, Kevin Ashby, Chairman and CEO of Saxo Capital Markets Pte Ltd. said the bank was honored to join forces with Monex Inc., an acknowledged Japanese industry leader.

"Monex Inc. is at the absolute cutting edge of Japan's thriving online trading environment. The organisation shares our commitment to high-quality execution technology and service, supports our vision of the potential for online FX trading in Japan, and is committed to providing their clients with a highly competitive trading experience. We are delighted that Monex chose to work with Saxo Bank in this next step in their development of this exciting FX market." said Ashby.

Oki Matsumoto, president of Monex Inc., commented: "It's been a great pleasure working with Saxo Bank, and we are excited to be able to offer Saxo's state-of-art FX trading platform to our clients in Japan. I believe the international collaboration between Saxo and Monex will bring us to the next stage of FX trading business in Japan."

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