Middle East lures FX firms

Investment bank Saxo Bank and institutional FX exchange Hotspot FXi both exhibited at the event for the first time, citing the region as an ideal target for their businesses.

Saxo’s offerings, which include a white-labelled platform that client banks can offer to their customers, will be attractive because the region is underdeveloped in terms of technology, said Zaid Mahdi, sales manager for the Middle East at Saxo Bank in Copenhagen. The bank’s model, whereby local language speakers based