On June 18th, Goron announced that INTL GENIUS (00033.HK) signed a memorandum of understanding with Saxo Capital Markets HK Limited on June 18, 2024. The aim is to establish a cooperative framework to encourage and promote bilateral technical cooperation in transaction technology licensing and asset management cooperation on an equal and mutually beneficial basis. Saxo Capital Markets HK Limited is a subsidiary of Saxo Bank, a comprehensive financial services company in Hong Kong, including securities trading (including forex trading), custody, asset management and investment advisory services. Saxo Bank is a Danish investment bank with a history of more than 30 years. Based in Copenhagen, it connects global investors and traders through a leading online trading platform. It strictly complies with regulatory requirements in 15 jurisdictions (including Denmark, UK and Singapore) and holds banking licenses in Denmark, Switzerland and the Netherlands. Saxo Bank manages customer assets worth over $100 billion, serves over 1.2 million customers, with a daily trading volume of over $20 billion and over 260,000 trades per day, and has won awards such as the Best Retail Forex Broker, Best Prime-of-Prime Provider, and Best Single Broker-Technology from Finance Magnates, HFM, and FX Week for many consecutive years.
Suggested cooperation includes: (1) Transaction technology licensing: The Group grants Saxo Capital Markets HK Limited is a non-exclusive, non-transferable license to use the Group's technology to enhance Saxo Hong Kong's trading system and asset management services; (2) Technical support and system integration: The Group agrees to delegate to Saxo Capital Markets HK Limited the management of its current and potential customers and special customers' custody, receivables and trading accounts. The Group further undertakes to provide software and hardware support to ensure the trading operation efficiency of Saxo Hong Kong's trading system; (3) Joint customer development and management: Saxo Hong Kong will promote the application of the Group's technology in asset management by introducing its cooperative institutions and high-net-worth client network. This initiative depends on the successful integration of the technology support provided by the Group into Saxo Hong Kong's operational infrastructure; and (4) Research and development cooperation: The Group and Saxo Hong Kong agree on the potential of mutual benefits through joint research and development. Both parties agree to jointly develop and enhance innovative financial products and services. The parties also agree that the intellectual property rights generated by the cooperation will be further clarified in accordance with separate commercialization strategies.
The Group is enhancing its professional investment research capabilities and trading technology. It is willing to grant Saxo Hong Kong a license to use its independently developed technology and plans to collaborate deeply with Saxo Hong Kong in asset management, trading system optimization and customer development. Management believes that the proposed cooperation can promote the Group's business development, expand the Group's sources of income by extending its asset management services globally, enhance its performance, and create value for its shareholders.