Saxo Bank Initiates LatAm Push

The acquisition of Montevideo-based NVN Securities, Agente de Valores will complete following regulatory approval, which will see the company name shift to Saxo Capital Markets, Agente de Valores, which translates to English as 'securities dealer'. Saxo Bank veteran Luis Simões Pereira will head up the new company, which has been an existing white label client of Saxo Bank since 2006.

"We have worked with NVN Securities for many years and have been impressed with their professional and reliable operations," says Pereira. "Teaming up with them will allow us to expand our presence in a continent where some of the most vibrant economies in the world are located. We have seen a substantial and consistent increase in trading activity by Latin American investors, much of it resulting from an improving economic situation and fast development in technological infrastructure."