MIG Bank Launches a Subsidiary in Europe, Bringing Greater Transparency and Security to the Forex Markets
LONDON - Thursday, May 3rd 2012 [ME NewsWire]
(BUSINESS WIRE)-- One of Switzerland’s largest banks that specialises in online trading, MIG Bank SA, has received its Financial Services Authority (FSA) license enabling it to offer online Foreign Exchange (Forex), Gold, Silver and Contracts for Difference (CFDs) via its new London based subsidiary, MIG Capital (Europe) Ltd (www.migcapital.co.uk).
MIG Bank has embarked upon a growth strategy to capture a greater share of the global private and institutional FX markets. Having recently opened a representative office in Hong Kong to support Asian based clients, the opening of MIG Capital means the Group will also be better positioned to meet the needs of its European clients. This expansion, coupled with a focus to build on its existing loyal and experienced client base around the globe, will help it to achieve its goal of becoming the leading provider of online trading services.
MIG Capital will offer clients a unique transparent pricing model which will give them its best interbank market prices with a clearly defined and fixed mark up. In an increasingly automated and impersonal online trading environment, MIG Capital will also reflect the strength and traditional values of its parent bank, and provide a personalised service with a client for life approach from a team of experienced financial services professionals and trading experts.
In addition, MIG Capital offers greater levels of security for its clients as it is regulated by the FSA, but also, is subject to an additional layer of internal audit and consolidated supervision by its parent bank to meet the requirements of the Swiss Financial Market Supervisory Authority (FINMA).
Hisham Mansour, Chief Executive Officer, MIG Group, says: “Our aim is to give our clients the best possible service, technology and security. In a stagnant economy, MIG Bank continues to expand and grow; we are opening offices in key financial centres and recruiting the best local talent. We are also continuing to strengthen our unique offering and improve technology to meet clients’ needs. We offer some of the most competitive trading conditions in the market including a unique transparent real time pricing.”
Damien Francis, Chief Executive Officer, MIG Capital, adds: “Like our parent bank, our clients will be at the heart of everything we do. We want to give private clients as well as financial institutions a selection of premium trading accounts to accommodate different styles and business needs. We are in this business for the long haul and we believe in solid, sustainable and durable solutions that enhances our credibility and reputation in the market place.
Building on MIG Bank’s corporate values, we want traders to have confidence in the Forex industry by strengthening their trust, increasing transparency and maintaining integrity through the delivery of consistent, reliable professional financial and customer services.”
For further information please visit www.migcapital.co.uk.
Rachel Smith, +44 207 186 2608/+41 78 659 6665
Group Marketing Officer