27.06.2016 06:19:01
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DGAP-News: FinTech Group AG
DGAP-News: Brexit: flatex-IT Executed Record 80,000 Trades at Full Load
27.06.2016 / 06:19 The issuer is solely responsible for the content of this announcement.
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Brexit: flatex-IT Executed Record 80,000 Trades at Full Load
- online brokerage subsidiary flatex executed three times as many trades as usual
- reduced leverage limits remain in place until Monday evening
- flatex certificate "EU Referendum" was one of most heavily traded securities
- #BREFUGEES Welcome: FinTech Group expects new business through financial institutions migrating from London
Frankfurt am Main - In addition to sharp market fluctuations, the surprising outcome of the Brexit Referendum on Friday also led to record trading volumes. The online broker flatex, a member company of the FinTech Group AG (WKN 524 960, ISIN: DE0005249601, abb.: FLA.GR), executed about 80,000 trades on Friday on their perfectly performing IT platform - more than three average trading days combined. This is a record in flatex's ten year history.
flatex established extensive safeguards before the Brexit Referendum that will remain in place until at least Monday evening. These include dropping the maximum selectable leverage for most CFD (contracts for differences) products from 100 to 20 to protect clients from being forced to make supplementary payments. In addition, market experts are monitoring the situation very closely, and client service was reinforced so it could handle requests from its 160,000 clients in Germany and Austria as quickly as possible.
The flatex index certificate "EU REFERENDUM" was the second most traded underlying security after the DAX, at the Stuttgart Exchange among knockout products on Friday. This certificate was issued by Morgan Stanley and sold under the flatex brand. The underlying is an index of 15 German companies. It is one of the first exchange traded products issued under the strategic partnership with Morgan Stanley signed in February.
For B2B business, FinTech Group AG expects significant demand from financial institutions that are currently based in London and will likely relocate to Germany.
"We regret the decision of the British people to leave the EU. However, this is also an opportunity for Germany, and specifically for the Frankfurt financial market. Many London-based financial institutions will have to re- orient themselves. This will generate new jobs in continental Europe, from which Frankfurt will also benefit. FinTech Group AG is expecting an increase in demand for their IT infrastructure and financial technology to result from this," commented Frank Niehage, CEO of FinTech Group AG.
About FinTech Group AG
FinTech Group AG (WKN: 524 960, ISIN: DE0005249601, Ticker Symbol: FLA:GR) is one of the most significant innovative financial technology companies in Europe. Our B2C brands service a total of 200,000 private clients. Likewise, our B2B business lines are important technology partners for German and international banks and financial institutions.
Our preliminary EBITDA 2015 is EUR 19 million. Our wholly owned subsidiary flatex GmbH has been one of the innovation leaders in the German online brokerage market for years. About 150,000 private clients both in Germany and internationally have chosen flatex' clear and transparent pricing model.
XCOM AG, in which we hold a majority interest, was founded in 1988 and is a German pioneer in the area of financial technology. Today, XCOM AG is one of the most successful software and technology providers for banks and financial institutions.
biw Bank für Investments und Wertpapiere AG, which is also belongs to FinTech Group, has a full-service banking license and is the group wide backbone of our banking services. It also serves as outsourcing partner for other well-known banks ("white label banking services") and is one of the most modern online banks in Europe.
FinTech Group AG is also an important partner for many young fintech companies in the up-and-coming German start-up scene, who benefit from our innovative profile.
Disclaimer
This release may contain forward-looking statements and information, which may be identified by formulations using terms such as "expects", "aims", "anticipates", "intends", "plans", "believes", "seeks", "estimates" or "will". Such forward-looking statements are based on our current expectations and certain assumptions, which may be subject to variety of risks and uncertainties. The results actually achieved by FinTech Group AG may substantially differ from these forward-looking statements. FinTech Group assumes no obligation to update these forward-looking statements or to correct them in case of developments, which differ from those anticipated.
Contact: Roman Kessler Roman.kessler@fintechgroup.com Head of Communications FinTech Group AG Rotfeder-Ring 5 D-60327 Frankfurt/Main +49 (0) 69 450001 041 Roman.kessler@fintechgroup.com
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27.06.2016 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
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Language: English Company: FinTech Group AG Rotfeder-Ring 5 60327 Frankfurt am Main Germany Phone: +49 (0) 69 450001 041 E-mail: roman.kessler@fintechgroup.com, ir@fintechgroup.com Internet: www.fintechgroup.com ISIN: DE0005249601, DE0005249601 WKN: 524960 Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart; Open Market (Entry Standard) in Frankfurt End of News DGAP News Service ---------------------------------------------------------------------------
474425 27.06.2016
DGAP-News: FinTech Group AG / Key word(s): Miscellaneous Brexit: flatex-IT Executed Record 80,000 Trades at Full Load
27.06.2016 / 06:19 The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Brexit: flatex-IT Executed Record 80,000 Trades at Full Load
- online brokerage subsidiary flatex executed three times as many trades as usual
- reduced leverage limits remain in place until Monday evening
- flatex certificate "EU Referendum" was one of most heavily traded securities
- #BREFUGEES Welcome: FinTech Group expects new business through financial institutions migrating from London
Frankfurt am Main - In addition to sharp market fluctuations, the surprising outcome of the Brexit Referendum on Friday also led to record trading volumes. The online broker flatex, a member company of the FinTech Group AG (WKN 524 960, ISIN: DE0005249601, abb.: FLA.GR), executed about 80,000 trades on Friday on their perfectly performing IT platform - more than three average trading days combined. This is a record in flatex's ten year history.
flatex established extensive safeguards before the Brexit Referendum that will remain in place until at least Monday evening. These include dropping the maximum selectable leverage for most CFD (contracts for differences) products from 100 to 20 to protect clients from being forced to make supplementary payments. In addition, market experts are monitoring the situation very closely, and client service was reinforced so it could handle requests from its 160,000 clients in Germany and Austria as quickly as possible.
The flatex index certificate "EU REFERENDUM" was the second most traded underlying security after the DAX, at the Stuttgart Exchange among knockout products on Friday. This certificate was issued by Morgan Stanley and sold under the flatex brand. The underlying is an index of 15 German companies. It is one of the first exchange traded products issued under the strategic partnership with Morgan Stanley signed in February.
For B2B business, FinTech Group AG expects significant demand from financial institutions that are currently based in London and will likely relocate to Germany.
"We regret the decision of the British people to leave the EU. However, this is also an opportunity for Germany, and specifically for the Frankfurt financial market. Many London-based financial institutions will have to re- orient themselves. This will generate new jobs in continental Europe, from which Frankfurt will also benefit. FinTech Group AG is expecting an increase in demand for their IT infrastructure and financial technology to result from this," commented Frank Niehage, CEO of FinTech Group AG.
About FinTech Group AG
FinTech Group AG (WKN: 524 960, ISIN: DE0005249601, Ticker Symbol: FLA:GR) is one of the most significant innovative financial technology companies in Europe. Our B2C brands service a total of 200,000 private clients. Likewise, our B2B business lines are important technology partners for German and international banks and financial institutions.
Our preliminary EBITDA 2015 is EUR 19 million. Our wholly owned subsidiary flatex GmbH has been one of the innovation leaders in the German online brokerage market for years. About 150,000 private clients both in Germany and internationally have chosen flatex' clear and transparent pricing model.
XCOM AG, in which we hold a majority interest, was founded in 1988 and is a German pioneer in the area of financial technology. Today, XCOM AG is one of the most successful software and technology providers for banks and financial institutions.
biw Bank für Investments und Wertpapiere AG, which is also belongs to FinTech Group, has a full-service banking license and is the group wide backbone of our banking services. It also serves as outsourcing partner for other well-known banks ("white label banking services") and is one of the most modern online banks in Europe.
FinTech Group AG is also an important partner for many young fintech companies in the up-and-coming German start-up scene, who benefit from our innovative profile.
Disclaimer
This release may contain forward-looking statements and information, which may be identified by formulations using terms such as "expects", "aims", "anticipates", "intends", "plans", "believes", "seeks", "estimates" or "will". Such forward-looking statements are based on our current expectations and certain assumptions, which may be subject to variety of risks and uncertainties. The results actually achieved by FinTech Group AG may substantially differ from these forward-looking statements. FinTech Group assumes no obligation to update these forward-looking statements or to correct them in case of developments, which differ from those anticipated.
Contact: Roman Kessler Roman.kessler@fintechgroup.com Head of Communications FinTech Group AG Rotfeder-Ring 5 D-60327 Frankfurt/Main +49 (0) 69 450001 041 Roman.kessler@fintechgroup.com
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27.06.2016 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
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Language: English Company: FinTech Group AG Rotfeder-Ring 5 60327 Frankfurt am Main Germany Phone: +49 (0) 69 450001 041 E-mail: roman.kessler@fintechgroup.com, ir@fintechgroup.com Internet: www.fintechgroup.com ISIN: DE0005249601, DE0005249601 WKN: 524960 Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart; Open Market (Entry Standard) in Frankfurt End of News DGAP News Service ---------------------------------------------------------------------------
474425 27.06.2016
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