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    FTK   DE000FTG1111

FLATEXDEGIRO AG

(FTK)
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Real-time Estimate Tradegate  -  02:27 2022-11-28 pm EST
10.05 EUR   -1.95%
11/08FLATEXDEGIRO : Receives a Buy rating from Jefferies
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10/26FLATEXDEGIRO : Berenberg reiterates its Buy rating
MD
10/24FLATEXDEGIRO : Gets a Neutral rating from Deutsche Bank
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DEGIRO retailises European Online Brokerage with zero commission trading on top US and European exchanges

11/18/2021 | 08:47am EST

DGAP-News: flatexDEGIRO AG / Key word(s): Miscellaneous
DEGIRO retailises European Online Brokerage with zero commission trading on top US and European exchanges

18.11.2021 / 14:45
The issuer is solely responsible for the content of this announcement.


DEGIRO retailises European Online Brokerage with zero commission trading on top US and European exchanges

- Zero commission US trading on NASDAQ and NYSE in all DEGIRO markets

- Zero commission trading on leading local exchanges and all ETFs in DEGIRO growth countries

- Most transparent pricing structure with no compensation through payment for order flow

- Significant acceleration of customer and transaction growth and increasing profitability expected

Today, flatexDEGIRO (WKN: FTG111, ISIN: DE000FTG1111, Ticker: FTK.GR), Europe's largest and fastest-growing pan-European retail online broker announced the introduction of zero commission trading at DEGIRO, starting as of 22 November 2021. DEGIRO customers across Europe will thereby be able to trade without any commission over 5,000 US equities directly on the leading US exchanges NASDAQ and NYSE. Additionally, in the most important growth markets, France, Spain, Portugal and Italy, as well as in Sweden and Denmark, they will trade all ETFs commission-free as well as equities on the respective local Tier 1 exchanges, including Euronext Paris, and Lisbon, NASDAQ Stockholm, Bolsa de Madrid and Borsa Italia.

For the very first time, European retail investors will be able to trade at zero commission without having to compromise on quality, service, security, product choice or place of execution. flatexDEGIRO leverages its technological edge, its financial strengths and the scale of its market-leading pan-European online brokerage business to make this unique offer. The attractiveness and quality of the offer is expected to lead to an increasing revenue base and additional economies of scale which, together with optimised monetisation, should strongly improve flatexDEGIRO's operating profitability.

Frank Niehage, CEO of flatexDEGIRO: "With 'DEGIRO goes zero', we are changing the face of online brokerage in Europe. DEGIRO provides the lowest prices in the market with full cost transparency and no compromise on quality. We are now not only leading in platform and product but also in price. This will further increase the attractiveness of long-term investing and trading on our platform for millions of Europeans. No one interested in online brokerage should ever again feel the need to trade with brokers who supposedly charge no commissions but offer only intransparent and low-quality alternatives."

Muhamad Chahrour, CEO of DEGIRO and CFO of flatexDEGIRO: "It's as simple as that: for years, many so-called 'neo-brokers' claimed to offer zero commission trading - but at what costs? Clients were attracted to trade either highly risky CFDs or with market makers having intransparent product-pricing and scrutinised payments for order flow. No retail customer should ever again accept this specious trade-off. We promised to retailise capital market access - this is exactly what we now do with this revolutionary step. DEGIRO launches the first fair and most transparent zero commission retail brokerage, not relying on any payment for order flow."

Complex variable fee structures for external cost such as exchange fees and regulatory costs will be eliminated by a transparent and simple flat handling fee of as little as 50 Cents per transaction. DEGIRO also supports the best access to international equity markets with transparent and outstanding FX services and fees, including one of the lowest FX fees in the whole financial industry of just 0.25%.

Contact:

Achim Schreck Tel. +49 (0) 69 450001 0
Head of IR & Corporate Communications achim.schreck@flatexdegiro.com
flatexDEGIRO AG
Rotfeder-Ring 7
D-60327 Frankfurt/Main


About flatexDEGIRO AG

flatexDEGIRO AG (WKN: FTG111, ISIN: DE000FTG1111, Ticker: FTK.GR) operates one of the leading and fastest growing online brokerage businesses in Europe, executing millions of paperless securities transactions per annum. B2C customers in 18 European countries are serviced via the flatex and DEGIRO brands and offered a wide range of independent products at competitive pricing, based on a modern, in-house state-of-the-art technology.

With more than 1.25 million customers and over 75 million securities transactions in 2020, flatexDEGIRO is the largest retail online broker in Europe. In a time of bank consolidation, low interest rates and digitalization, the flatexDEGIRO Group is ideally positioned for further growth. Within the next five years, flatexDEGIRO aims to grow its customer base to 7-8 million customers, settling 250-350 million transactions per year - even in years with low volatility.

More information via https://www.flatexdegiro.com/en




Contact:
Achim Schreck
Head of IR & Corporate Communications
flatex AG
Rotfeder-Ring 7
D-60327 Frankfurt/Main
+49 (0) 69 450001 1700
achim.schreck@flatex.com


18.11.2021 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


Language: English
Company: flatexDEGIRO AG
Rotfeder-Ring 7
60327 Frankfurt / Main
Germany
Phone: +49 (0) 69 450001 0
E-mail: ir@flatexdegiro.com
Internet: www.flatexdegiro.com
ISIN: DE000FTG1111
WKN: FTG111
Indices: SDAX
Listed: Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1250311

 
End of News DGAP News Service

1250311  18.11.2021 

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ę EQS 2021
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Financials
Sales 2022 400 M 415 M 415 M
Net income 2022 94,0 M 97,6 M 97,6 M
Net cash 2022 781 M 811 M 811 M
P/E ratio 2022 12,0x
Yield 2022 -
Capitalization 1 126 M 1 170 M 1 170 M
EV / Sales 2022 0,87x
EV / Sales 2023 0,37x
Nbr of Employees 1 162
Free-Float 50,5%
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Mean consensus OUTPERFORM
Number of Analysts 10
Last Close Price 10,25 €
Average target price 16,10 €
Spread / Average Target 57,1%
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Managers and Directors
Frank Niehage Chairman-Management Board
Muhamad Said Chahrour Chief Financial Officer
Martin Korbmacher Chairman-Supervisory Board
Stephan Simmang Chief Technology Officer
Steffen Jentsch Chief Information Officer
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