Smartbroker Holding AG announced that over the past few months, important progress has been made on the Smartbroker 2.0 project. The rebranding of the former wallstreet:online AG to Smartbroker Holding AG and wallstreet:online capital AG to Smartbroker AG were recently completed. The strategic focus is now also clearly reflected in the company name, which facilitates external communication and underlines the commitment to the corporate vision.

The Smartbroker 2.0 project includes the development of a proprietary transaction and trading platform that includes all processes from the opening of a securities account, order placement, routing, settlement, and reporting to the connection to clearing houses and trading venues. This internalisation of large parts of the brokerage value chain also includes the creation of a completely new front end - both for the web trading interface and the first-time introduction of a mobile trading app. Additional development needs became apparent during the product testing phase.

The launch will therefore be postponed by a few months. The necessary steps have been taken to complete the missing tasks in the first half of 2023. Among other things, further processes will be internalised instead of outsourcing them to external partners.

Due to the later product launch, the Company expects to onboard fewer new customers than originally planned for 2022. This factor is already incorporated into the revised guidance.