Swiss financial institutions are required to have the Securities Dealer License in order to offer securities trading facilities other than FX, and this license now allows MIG BANK to expand its products portfolio and increase and diversify its trading volumes and revenues to products such as commodities, indices, options, futures, bonds and equities.
"Obtaining the Securities Dealer License is an additional reward and recognition of the work and investments we have done at MIG BANK to become one the worldwide leaders in Forex trading. Our next objective is to become also a leader in online trading in all asset classes. For that purpose we are now planning to expand our activities in Switzerland and abroad. The Securities Dealer License came at the right time as we are ready to expand our product portfolio," says MIG BANKCEO Hisham Mansour.
"The Securities Dealer License required some new resources and further enhancements in terms of processes and controls to enable the Bank to handle securities trading. We have delivered on the requirements and we are pleased of this outcome and ready to continue to develop the Bank as a global player," adds Regis Ducrey, COO/CFO of MIG BANK.