IGC Entered into a MOU with Saxo HK to Encourage Bilateral Technical Collaboration
- Written by Telegraph Magazine
Continue to enhance its trading technology and further commercialization to achieve mutual benefits
HONG KONG SAR - Media OutReach Newswire - 19 June 2024 - International Genius Company ("IGC" or the "Company", together with its subsidiaries, the "Group"; stock code: 0033.HK) is pleased to announce that, the Company entered into a memorandum of understanding (the "MOU") with Saxo Capital Markets HK Limited ("Saxo HK") aims to establish a framework for cooperation ("the Proposed Cooperation") that encourages and facilitates bilateral technical collaboration on the issues of trading technology licensing and asset management cooperation, based on the principles of mutual benefit, equality and reciprocity.The Proposed Cooperation included:
- Trading Technology Licensing: The Group extends to Saxo HK a non-exclusive, non-transferable license to utilize the Group's Technology with the aim of augmenting Saxo HK's trading system and asset management services;
- Technical Support and System Integration: The Group agrees to entrust Saxo HK with the responsibility of managing the custodial, collection, and trading accounts of current and prospective clients and specialized clientele. The Group further expresses its commitment to furnishing software and hardware support, thereby facilitating seamless access to Saxo HK's trading system and ensuring its operational efficiency;
- Joint Customer Development Management: Saxo HK will extend its cooperation by introducing its network of cooperative institutions and high-net-worth clients to the Group's Technology for asset management purposes. This initiative is contingent upon the successful integration of the Group's Technology within Saxo HK's operational infrastructure, as facilitated by the technical support provided by the Group;
- Research and Development Collaboration: The Group and Saxo HK acknowledge the potential for mutual benefit through joint research and development endeavors. Both parties agree to collaborate in the creation and enhancement of innovative financial products and services. It is understood that the intellectual property arising from such collaborative efforts shall be subject to a separate commercialization strategy.
Saxo HK, the subsidiary of Saxo Bank A/S ("Saxo Bank"), is a Hong Kong corporation which provides comprehensive financial services that integrates securities trading (including foreign exchange trading), custody, asset management, and investment advisory services. Saxo Bank is a Danish investment bank with a history of more than 30 years. Headquartered in Copenhagen, it connects global investors and traders with a leading online trading platform. It complies with strict regulatory requirements in 15 jurisdictions (including Denmark, the United Kingdom and Singapore) and holds banking licenses in Denmark, Switzerland and Netherlands. Saxo Bank manages more than US$100 billion in client assets, serves more than 1.2 million clients, has a daily trading volume of more than US$20 billion, and more than 260,000 daily transactions. It has won the Best Retail FX Broker awarded by Finance Magnates, the Best Boutique Prime Broker Technology Award awarded by HFM, and the Best Prime-of-Prime Supplier by FX Week for many consecutive years.
IGC is committed to enhancing its professional investment research capabilities and trading technology and is willing to license its independently develop technology to Saxo HK for use. The Group is interested in conducting in-depth cooperation with Saxo HK in areas such as asset management, trading system optimization and customer development. The management believes that the Proposed Cooperation could facilitate the Group's business development by further enhancing technology development and expanding its asset management service to a global scale, to broaden the Group's revenue source, enhance performance of the Group and create value for the shareholders of the Company.
Hashtag: #IGC
The issuer is solely responsible for the content of this announcement.
International Genius Company
International Genius Company is an artificial intelligence based financial technology institution seeking breakthrough in utilising algorithmic trading and artificial intelligence trading technology to its asset management and other related financial services business. The Group offers services including party product trading, financial services, advancing business, and commodities trading. The Group is committed to being a top-tier financial institution, project investor and asset manager.
