Danish multi-asset service provider Saxo Bank has signed an agreement with Chinese financial technology firm Phoenix Finance to form a white label partnership.

Under the memorandum of understanding (MoU), Phoenix Finance will integrate Saxo's investment and trading capabilities directly into its own applications and systems to enhance its offering to clients.

Also Phoenix Finance will white label Saxo Bank’s multi-asset trading technology, which offers access to over 30,000 financial instruments.

The integration process will start in the first quarter of 2017, and will be based on Saxo Bank's Open API, which offers various customizations of Saxo Bank's multi-asset investment and trading technology.

Saxo Bank Asia Pacific CEO Adam Reynolds said: "We are delighted to be working with Phoenix Finance on this new partnership which demonstrates our ongoing commitment to becoming a trading facilitator and technology provider for banks and brokers around the world.

“Without having to develop its own solution, which might take years and be costly, Phoenix will be able to offer their clients a stronger investment and trading product by utilizing Saxo's award-winning technology. Saxo Bank on the other hand gets a new distribution channel in new markets and segments as Phoenix Finance has an unparalleled reach to overseas Chinese investors."

Phoenix Finance president Vince Zhang said: "Phoenix is ecstatic about partnering with Saxo Bank, the leading global financial technology provider. Through this relationship, Phoenix will be able to expand its product depth and provide our millions of investors with a more diverse product portfolio and innovative analytical tools."