Online investment bank and e-forex provider, Saxo Bank, has opened a new Tokyo office to expand its trading presence in the Asia Pacific region.

Saxo says that the Japanese financial market is undergoing major shifts spurred by an increase in the number of technologically-savvy investors who have become better informed to make self-directed online trading decisions.

According to data from the Tokyo Foreign Exchange Market Committee, online FX traders in Japan account for close to $15 billion worth of daily transactions. Approximately 80 per cent of Saxo Bank Group’s Asia FX trading volume comes from Japan.

The Tokyo office will be headed by Wataru Kojima. It will provide support to Saxo Bank’s institutional partners in Japan and will work closely with Saxo Bank’s Asia Pacific operations Saxo Capital Markets headquartered in Singapore.