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flatex AG (FTK)

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Wednesday 22 April, 2020

flatex AG

Zero losses at flatex with respect to unusual oil price movements

DGAP-News: flatex AG / Key word(s): Market Report
flatex AG: Zero losses at flatex with respect to unusual oil price movements

22.04.2020 / 08:06
The issuer is solely responsible for the content of this announcement.


Corporate News / Frankfurt/Main, April 22, 2020

Zero losses at flatex with respect to unusual oil price movements

- Energy markets recently exhibited extraordinary price activity in West Texas Intermediate (WTI) crude oil future contracts

- flatex experienced no losses on any positions and issued no margin calls associated directly or indirectly with such price movements

- Business levels continue to benefit from elevated volatility levels

Frankfurt am Main - flatex AG (WKN: FTG111, ISIN: DE000FTG1111, Ticker: FTK.GR) exhibits zero losses associated with the unusual oil price movements recently observed. On Monday, April 20, 2020 energy markets exhibited extraordinary price activity in West Texas Intermediate (WTI) crude oil future contracts with the May 2020 contract dropping to unprecedented negative levels. flatex clients are not invested in any futures or options and thus are not exposed to any price movements. Therefore flatex is not negatively impacted with respect to any positions in such contracts and issued no margin calls to clients associated directly or indirectly with such price movements. The strong business trends observed in Q1/2020 continue throughout April 2020 benefitting from elevated volatility levels in the financial markets.


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 approximately 12.5 million securities transactions paperless per annum. More than 300,000 B2C customers are offered top services and a wide range of an independent product offering at a competitive pricing, based on a modern, self-developed state-of-the-art technology.

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.


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 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.

Contact:
Muhamad Chahrour
CFO & IR
flatex AG
Rotfeder-Ring 7
D-60327 Frankfurt/Main
+49 (0) 69 450001 0
[email protected]


22.04.2020 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: 1026875

 
End of News DGAP News Service

1026875 22.04.2020 

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