Geely aims to partner with Saxo Bank to build multi-asset trading platform
Mar 29, 2019 (China Knowledge) - Carmaker Zhejiang Geely Holding and Danish fintech company Saxo Bank are looking to enter a partnership to build a multi-asset trading platform in mainland China through the dashboard of Geely’s vehicles.
The proposed partnership is part of Geely’s plans of building a broader financial ecosystem in China where the company hopes to offer more products than its current offerings in car loans and leasing services.
At the same time, Saxo Bank also hopes to provide mainland Chinese investors with greater access to financial products such as stocks, bonds, futures and options that are traded outside of China through its trading platform once liberalization of China’s capital markets allows mainland investors to trade these products.
Saxo is now working with banks and brokers in China to help them build their digital platform and claims to have already started testing a prototype app in Geely’s cars in China.
At the moment, Saxo is focusing on offering Chinese investors trading services for domestic and international financial products and is currently in the process of obtaining the required license to operate a securities and futures trading business.
The bank is already helping international investors to trade Chinese A shares through the Hong Kong-Shanghai-Shenzhen stock connect and yuan-denominated bonds through the bond connect.
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