Saxo Bank's primary focus of expanding into London lies within the institutional space. The office in London is scheduled to be up and running in the first quarter of 2006. In the past couple of months, Saxo Bank has focused on attaining the formal FSA approval and finding a suitable domicile. With that in place the company now turns its attention to the recruitment effort lying ahead.

Peter Klein, Director of Saxo Bank UK is leading the establishment of the new London Headquarters and says, "We're delighted that the FSA has granted us their approval, and we're looking forward to intensifying our search for skilled and professional institutional sales people from the financial markets. The London office is an important initiative that provides the bank with better access to the world's largest pool of qualified financial personnel. Through our role as facilitators and providers of advanced white label trading technology, we continue to seek new ways of adding value to all of our partners and liquidity providers, and we need the right people helping us to expand the concept."