EQS-News: Baader Bank AG / Key word(s): Alliance
Baader Bank successfully completes securities account transfer for Smartbroker customers with €5 billion assets
A milestone in Baader Bank's history was marked at the end of October when the bank, working alongside its collaboration partner Smartbroker and other parties, successfully completed the transfer of securities accounts for existing Smartbroker customers. All customers who had given prior approval for the transfer were ported over to the Baader Bank platform as planned on the weekend of 28 October 2023. This technical transfer of securities and cash positions involved around 90,000 customers and €5 billion in assets total.
With the securities and brokerage business set to continue its growth track into the future, Baader Bank has optimised its platform in recent months and is investing continuously in the technical capabilities of the platform. With its "High Performance Banking" strategy, Baader Bank is positioning itself as a leading partner for securities and banking services in Europe. The foundations for the planned further growth are therefore in place. "We are delighted that we have been able to carry out one of the biggest-ever securities transfer operations in the German banking industry as planned, working in conjunction with our partners. Over the past few months we have continuously improved our technical setup and this project has been a top priority", says Nico Baader, CEO at Baader Bank.
The securities accounts of customers on the new SMARTBROKER+ platform have been active and operational since Monday, 30 October 2023. For Smartbroker customers who had issued the relevant order, holdings with the transferring bank were also transferred as part of the process. "The integrative partnership-based collaboration of all the companies involved and the focus on the technical and procedural complexity of this large-scale securities account transfer were critical to the success of the project", says Oliver Riedel, Deputy CEO at Baader Bank. SMARTBROKER+ is now operating at 80% of its full functionality. Additional features will be implemented in the coming months, including bond purchases for over 12,000 bonds and digital Lombard loans of up to EUR 100,000.
"In collaboration with Baader Bank, we were able to implement two major projects within a very short space of time - on the one hand, the creation of a new full-service broker that is clearly geared towards the preferences of the financial community and, on the other, one of the largest individual securities account transfers in Germany. We are very proud of the result presented today. We can now hit the ground running with SMARTBROKER+ and are very much looking forward to our continued collaboration with our partner bank. Many thanks to the entire team", says Thomas Soltau, CEO of Smartbroker AG.
Customers who have not yet given their approval for the securities account change will be able to initiate an individual securities account transfer with Smartbroker in the coming months.
For further information and media inquiries:
Marlene Constanze Hartz
T +49 89 5150 1044
Baader Bank AG
Weihenstephaner Strasse 4
85716 Unterschleissheim, Germany
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About Baader Bank AG:
Baader Bank is one of the leading European partners for investment and banking services. Trading and banking are combined using a single powerful platform that offers a unique setup and optimum access to the capital market using a secure, automated and scalable approach. As a family-run full-service bank with its headquarters in Unter-schleissheim near Munich, Baader Bank AG employs around 550 staff members and operates in the business fields of Market Making, Capital Markets, Brokerage, Fund Services, Account Services and Research Services.
|Baader Bank AG
|Weihenstephaner Str. 4
|+49 89 5150 1013
|+49 89 5150 1111
|Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Hamburg, Munich (m:access), Stuttgart, Tradegate Exchange
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|EQS News Service