Saxo Bank, the online multi-asset trading and investment firm, announced the opening of its newest branch in Istanbul, Saxo Capital Markets Menkul Değerler. The head of the new office is Egemen Kaya, previously head of emerging markets and precious metals desk at Saxo Bank's headquarters in Denmark. In May 2012, Saxo Bank acquired 89.54% of Değer Menkul Değerler, a local broker with a securities license.