MEDIA RELEASE PR39963
Standard Bank Partners With GAIN Capital to Launch its Standard FX Trader Retail Forex Trading
Service
NEW YORK and JOHANNESBURG, June 17 /PRNewswire-AsiaNet/ --
Standard Bank Group Limited ("SBSA"), the largest South African banking
group ranked by assets and earnings, and GAIN Capital Holdings, Inc., a
leading global provider of online trading services, have partnered to launch
a collateralized foreign exchange trading service, Standard FX Trader. Based
on GAIN's award-winning retail trading technology, Standard FX Trader marks
the first time a broad based retail forex offering will be made available by
a South African bank.
Richard de Roos, Director & Head of Foreign Exchange, Global Markets,
Standard Bank said:
"For over 140 years Standard Bank has played a key role in the
development of the South African economy by providing banking and financial
services for the community. We are delighted to be able to work with GAIN
Capital to extend our existing suite of electronic forex offerings by
providing a new offering to our retail customers - greater access to trade
forex, the most liquid and actively traded market in the world."
Glenn Stevens, CEO at GAIN Capital added:
"We are especially pleased to announce our partnership with Standard
Bank, which represents GAIN's first white label partnership with a major
financial institution in the region. Together, we have brought to market what
we feel is an exceptionally compelling offering, combining GAIN's proven
trading technology and experience in retail FX with Standard Bank's leading
position and expertise in trading in global markets as well as their solid
reputation serving clients in South Africa, the African continent and other
key emerging markets."
SBSA's offering is designed to offer forex traders in its countries of
representation with a differentiating service from a trusted provider. It
will provide 24-hour trading in 38 of the world's major currencies as well as
spot gold and silver, advanced trading tools, and access to daily and weekly
research from a global team of economists and technical analysts. For traders
new to the forex market, Standard Bark will host complimentary educational
seminars and will have online tutorials and other educational resources
available on its new website.
For access to the new service go to:
About Standard Bank Group
Standard Bank Group is a global emerging markets bank with African roots,
headquartered in South Africa with a December year-end. Ranked the largest
bank in Africa by assets of approximately $181 billion at 31 December 2009
and employing more than 50 000 employees worldwide.
A full service bank established 147 years ago, with extensive operations
in 17 African countries and 16 countries outside the African continent.
Providing banking services in Personal & Business Banking, Corporate &
Investment Banking and Wealth.
In recent years, Standard Bank has concluded a number of key acquisitions
in Argentina, Kenya, Nigeria and Turkey and most recently a minority stake in
Troika Dialog in Russia, to further consolidate our position in targeted
geographic markets that are strategically important to our growth strategy.
The Industrial & Commercial Bank of China Ltd (ICBC) bought a 20%
strategic shareholding in Standard Bank Group in March 2008 for $5,5 billion.
The cooperation between Standard Bank and ICBC established a gateway between
Africa and China, accelerating the Bank's International strategy and
providing support for the bank's next phase of growth.
The bank's long-term ratings are: Moody's A3, Standard & Poor's BBBpi,
Fitch Ratings BBB+. The South African sovereign ratings are: Moody's A3,
Standard & Poor's BBB+, Fitch Ratings BBB+.
Standard Bank's growing global presence, strong capital base and client
franchise in key emerging markets position the bank well for sustainable
growth and returns.
About GAIN Capital
GAIN Capital Holdings, Inc. is a global provider of online trading
services, specializing in foreign exchange (forex or FX) and contracts for
difference (CFDs). Customers and trading partners in more than 140 countries
have utilized the company's award-winning trading platform which transacts
nearly $250 billion per month.
A pioneer in online trading services, GAIN Capital provides execution,
clearing, custody and technology products and services to an institutional
client base including asset managers, broker/dealers and other financial
services firms. GAIN also operates FOREX.com, one of the largest and
best-known brands in the retail forex industry.
With offices in New York City; Bedminster, New Jersey; London; Sydney;
Hong Kong; Tokyo; and Seoul, GAIN Capital and its affiliates are regulated by
the Commodity Futures Trading Commission (CFTC) in the United States, the
Financial Services Authority (FSA) in the United Kingdom, the Financial
Services Authority (FSA) in Japan, the Securities and Futures Commission
(SFC) in Hong Kong, and the Australian Securities and Investments Commission
(ASIC) in Australia.
GAIN's investor group includes private equity firms 3i, VantagePoint
Venture Partners, Tudor Ventures, Edison Venture Fund and Cross Atlantic
Capital Partners.
SOURCE: GAIN Capital Holdings, Inc.
CONTACT: STANDARD BANK GROUP MEDIA CONTACTS: John Beynon, Standard Bank
Director & Head, e-Channels, Foreign Exchange, +27(0)11-378-8922,
john.beynon@standardbank.co.za, or Ross Linstrom, Standard Bank Media
Relations, +27(0)11-636-3629 (Office), +27(0)83-262-1882 (Mobile),
ross.linstrom@standardbank.co.za, or GAIN CAPITAL MEDIA CONTACTS: Alicia
Brown, GAIN Capital, +1-908-731-0731, albrown@gaincapital.com, or Christa
Conte, Feintuch Communications, +1-212-808-4902, christa@feintuchpr.com
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