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Wednesday 30 October, 2019

flatex AG

flatex and Societe Generale establish exclusive CFD partnership until 2025

DGAP-News: flatex AG / Key word(s): Agreement/Product Launch
flatex AG: flatex AG: flatex and Societe Generale establish exclusive CFD partnership until 2025

30.10.2019 / 08:15
The issuer is solely responsible for the content of this announcement.



Frankfurt am Main - flatex AG (WKN: FTG111, ISIN: DE000FTG1111, Ticker: FTK.GR) has won an exclusive contract with Societe Generale to become the CFD product provider for its brokerage business.
Both parties agreed on a new partnership until 2025, in the context of Societe Generale's on-going integration of the EMC business of Commerzbank, which had previously been the exclusive CFD partner of flatex. Based on the new agreement, income from the CFD business will increase significantly at flatex. In total, flatex processes more than 2 million CFD transactions annually.

"We are delighted to have won Societe Generale, a top-tier derivatives player and one of the future leading CFD product providers, as our exclusive product partner. This allows us to guarantee our clients a strong and reliable product partner for the coming years. Together we will expand the product range and further increase the product quality. And due to the existing system interfaces of the former Commerzbank partnership, no additional technical effort is required - a win-win-win deal,", said Frank Niehage, CEO of flatex AG.


Contact:
Muhamad Chahrour
CFO & IR
flatex AG
Rotfeder-Ring 7
D-60327 Frankfurt/Main
+49 (0) 69 450001 0
[email protected]
  About flatex AG
flatex AG (WKN: FTG111, ISIN: DE000FTG1111, Ticker: FTK.GR) operates one of the leading and fastest growing online brokerage businesses in Europe. Executing round about 12.5 million customer's securities transactions paperless per annum. Offering their more than 300,000 B2C customers top services at a competitive pricing based on their modern, self-developed state-of-the-art technology. 

Many B2B customers, the state infrastructure and established financial services companies as well as disruptive business ideas benefit from flatex' white label banking technology and become quickly successful businesses due to the self-developed core banking system (FTG:CBS) that belongs to the most modern and most modular systems in the market - the standard platform for private and specialist banks. In times of bank consolidation, low interest rates and digitalisation, flatex is ideally positioned for further growth and well on its way to becoming Europe's leading provider of financial technology.


Disclaimer

This release may contain forward-looking statements and information, which may be identified by formulations using terms such as "ex-pects", "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 flatex AG may substantially differ from these forward-looking statements. flatex assumes no obligation to update these forward-looking statements or to correct them in case of developments, which differ from those anticipated.
 


30.10.2019 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.

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Language: English
Company: flatex AG
Rotfeder-Ring 7
60327 Frankfurt / Main
Germany
Phone: +49 (0) 69 450001 0
E-mail: [email protected]
Internet: www.flatex.com
ISIN: DE000FTG1111
WKN: FTG111
Indices: Scale 30
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 899335

 
End of News DGAP News Service

899335  30.10.2019 

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