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DGAP-News: flatex AG
/ Key word(s): Monthly Figures
Markets' volatility provides flatex and DEGIRO with record figures in February
"Volatility has increased noticeably in recent weeks. The uncertainty on the markets, especially around the corona virus, is evident. Once again, volatility and market uncertainties are resulting in increased trading activity by our customers. In addition, we are pleased that over 15,000 new customers have opted for the flatex offering since the beginning of the year. This is an impressive proof of the trust we enjoy as an established and long-standing online broker," says Frank Niehage, CEO of flatex AG. "It was important for us to see that our flatex systems worked extraordinarily well, despite a load that was at some days four times as high as on regular days. On the strongest trading day in February, flatex settled over 150,000 transactions and DEGIRO 270,000 transactions." In December, flatex already acquired 9.4% of DEGIRO, the remaining 90.6% of the shares will be acquired after approval by the Dutch authorities. The relevant DNO approval application was submitted in February, so that formal regulatory approval and subsequent closing can be expected in the second quarter of 2020. "We have repeatedly emphasized that we have developed a substantially solid and profitable business model despite a negative interest rate environment and in times of record low volatility. Now the first of the two hidden reserves, volatility, is coming into play and the result is two record months in a row," says Muhamad Chahrour, CFO of flatex AG. "If we also take into account the figures from DEGIRO, it becomes clear how valuable the acquisition has been and which European 'securities powerhouse' we will develop together. I am keen to say that under these conditions we will most likely reach our target of 1 million customers and 35 million transactions in 2020 well before the end of this year". About flatex AG In December 2019, flatex announced the acquisition of DeGiro, which will make it one of the largest online brokers in Europe. After completion of the transaction, together they expect to serve more than one million customers with over 35 million securities transactions in 2020. In a time of bank consolidation, low interest rates and digitalization, the flatex Group is thus ideally positioned for further growth and on its way to becoming Europe's leading provider of online retail brokerage.
04.03.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
| Language: | English |
| Company: | flatex AG |
| Rotfeder-Ring 7 | |
| 60327 Frankfurt / Main | |
| Germany | |
| Phone: | +49 (0) 69 450001 0 |
| E-mail: | |
| Internet: | |
| ISIN: | DE000FTG1111 |
| WKN: | FTG111 |
| Indices: | Scale 30 |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 989101 |
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| End of News | DGAP News Service |
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989101Â Â 04.03.2020Â
