Sources close to London headquartered broker-dealer, TradeNext, operating in the margin derivatives space, have announced a collaboration with British football club, Derby County Football Club (DCFC). Under the multi-year partnership, the two firms will engage in various activities to enhance financial literacy among sports fans.
The FX and CFD brokerage firm has signed up with DCFC as a preferred partner. As part of the partnership, TradeNext will work in collaboration with the senior team at Derby County and members of the first-team playing squad to develop and produce a financial literacy programme that educates fans and supporters about financial trading.
Derby County’s CEO, Sam Rush, commented in the announcement, “Throughout the negotiations of the agreement we were extremely impressed with what they had to say and we believe this is a tremendous opportunity for Derby County and TradeNext to work together closely and provide supporters with an insight of financial trading.”
TradeNext, a multi-asset brokerage firm, has been actively enhancing its product and technology portfolio, the latest partnership highlighting the firm’s developments since its inception in 2012.
Mohsin Jameel, CEO TradeNext, commented about the partnership in the official announcement, “We are very pleased to become a ‘Preferred Partner’ of Derby County. For us this partnership is built on big ambitions, we both have a real determination to grow and be successful in our respective markets. We will fully support Derby on field push for promotion, with creative and innovative ideas to widen the appeal of the football club and the world of trading. Off the field, there are real synergies between both parties and I am excited about developing them so that we develop both our fan bases.”
Sports’ marketing is widely used in the financial services and banking sector, with leading global brands sponsoring major sporting events. In the world of FX, football has a soft spot, along with Formula 1. Several brokers have gone down the route of associating themselves with football clubs, most recently IronFX partnered with Spanish giant, Barcelona FC.
In the Formula 1 space we see Swissquote’s branding on the Mercedes Benz cars of Nico Rosberg and Lewis Hamilton every other weekend. Saxo Bank has announced they are collaborating with Lotus after the team won its first points for the season in Monaco.
“Being one of UK’s first Indian-owned FX and CFD brokers we are able to use our expertise, insight and local knowledge to cater the needs of this customer segment,” added Mr. Jameel.
The South Asia region is home to one of the BRICS, India and two emerging market nations, Pakistan and Bangladesh. At the same time, in the UK there are over 3 million people classified as British Asians, from these nations.
The firm has been involved in a number of alternative approaches to develop its brand, Mr. Jameel spoke about the use of cinema to reinforce the brand’s messaging at the iFX EXPO in Macau earlier this year, he explained: “It helps you break down barriers when people see your firm in ‘less a serious’ context.”
TradeNext furthers its move into the entertainment marketing sector as it hosts a popular Bollywood-focused concert being held in London this weekend.
A key element of the partnership for DCFC is TradeNext’s international presence; the association will present the Club with an opportunity to reach out to the firm’s substantial South Asian client base and subsequently provide Derby County with in-depth knowledge and experience in this growing segment.