Saxo Bank brings in ETNA Software for tech help

ETNA will provide Saxo Bank with outsourced services around its in-house systems.

Financial platforms and IT consulting firm ETNA Software today announced that it has signed a “long-term partnership” with leading retail FX broker Saxo Bank. We understand that this new relationship is connected to the Saxo Bank downsizing completed at the end of last year, with Saxo Bank letting go many people in its IT and support groups.

Saxo Bank built and maintains its own trading platform, which takes a lot of IT know-how — and ongoing fixed expense, if you do it yourself. The ETNA relationship will allow Saxo Bank flexibility to run, maintain, and even improve its systems over time, with less fixed expense.

Saxo Bank has of course a close relationship with Forex platform developer Leverate, in which Saxo Bank took a 25% interest in 2011.

For the full ETNA press release click here.

For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.

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