FXCM breathes down Saxo Bank�s neck: makes a Northern Europe move

Looks like FXCM is not giving up to Saxo that easily. In the following press release FXCM announced that it has added 10 different Krone crosses to its current selection. The only two reasons for that move could be either a strong local client base demanding to trade its own currencies or intent to tap into this market.
As I speculated earlier Saxo might want to consider disposing of its retail assets and focusing on its institutional client base as it doesn�t really makes sense for it to deal with retail forex. FXCM on the other hand is a much more aggressive and effective firm in that market segment.
A few days ago Saxo made moves in two directions: one involved expanding its asset management clientele by acquiring two asset management firms and in the second they announced plans to expand in the Middle East where it has strong retail demand.
Knowing FXCM I�m sure this won�t the last move in that direction that it makes. It remains to be seen who�s going to make the next move in this intriguing race.

Forex Magnates