Saxo Capital Markets expands solutions

Trading and investing platform Saxo Capital Markets partnered with digital stockbroker OpenMarkets to allow easier investor trades in global securities.

The firms' clients can now access the major US, UK, European and Asian markets by trading via a single platform and cash account;  transactions and data are also consolidated and fed to investors' other SMSF and portfolio administration reporting platforms.

Clients will be able to invest in Australian shares through a Holder Identification Number (HIN), which is a unique identifier assigned by the ASX to investors who use a broker.

This means having the ability to hold Australian stocks through the HIN structure provided by the ASX's Clearing House Electronic Subregister System (CHESS) alongside other assets within Saxo's trading platform.

OpenMarkets will be the first broker to offer the HIN solution on a singular, consolidated multi-asset trading platform, Saxo Capital Markets Australia chief executive Ben Smoker said.

"This differentiates us from other multi-asset brokers who also offer access to local shares, but do not have HIN," Smoker added.

"This global markets trading offering, coupled with our range of reporting platform data feeds, will go a long way towards meeting the demand we are seeing from the SMSF market looking for global investment diversification," OpenMarkets chief executive Andrea Marani said.

Saxo Capital Markets has some 30,000 tradable instruments across global financial markets serving private and institutional clients.

Read more: USHINASXOpen MarketsAndrea MaraniBen SmokerClearing House Electronic Subregister SystemSaxo Capital Markets AustraliaUK
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