Saxo Bank Closing Istanbul Office Amidst Local FX Regulatory Shift

[kreslik.news]

Saxo Capital Markets Menkul Değerler A/Ş, the group’s Turkish subsidiary, has scaled back its operations, opting to close down its Istanbul office. The decision follows on the heels of the recent shakeup in Turkey’s foreign exchange market and reflects a recalibration of Saxo Bank’s focus in the country. Moving forward, Saxo Bank will instead look to leverage its product distribution through other relationships in the region.

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Back in February, the Capital Markets Board (CMB) of Turkey announced sweeping changes to its FX regulations, including the imposition of a ... (read more)