Saxo Bank has entered into a definitive agreement to acquire E*TRADE International's local Nordic online trading business and online bank  from E*TRADE Nordic AB, an indirect subsidiary of E*TRADE FINANCIAL Corporation, a US-based financial services company. The Nordic business includes client accounts in Denmark, Iceland, Finland, Estonia, Latvia, Lithuania, Sweden, and Norway.

The acquisition is a further step by Saxo Bank towards offering more saving and investment products to investors.  Saxo Bank should now be able to offer pension products as well as stock and margin accounts, bond offerings and later, a Funds Supermarket. Moreover, Saxo Bank's assets under management will increase by more than DKK 5.0bn and the acquisition adds an additional 50,000 active accounts.