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Swissquote

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Swissquote Bank Ltd
Company typePublic limited company
SIX Swiss Exchange SQN
ISINCH0010675863
IndustryBanking
Founded2000[1]
FounderMarc Bürki and Paolo Buzzi
HeadquartersGland, Switzerland
Key people
Marc Bürki (CEO), Alexandru Craciun (CTO), Morgan Lavanchy, (CLO) Gilles Chantrier (CRO), Yvan Cardenas (CFO), Nestor Verrier (COO), Jan De Schepper (CSO).
ProductsOnline trading and investment, trading platforms
Revenue317.3 million CHF (December 2020)
Total equity440.2 million CHF (December 2020)
Websitewww.swissquote.com

Swissquote Group Holding SA[2] is a Swiss banking group specialising in providing online financial and trading services. The Group's shares have been listed on the SIX Swiss Exchange under the ticker symbol “SQN” since 29 May 2000.[3] Its headquarters are located in Gland, Switzerland. The company also has offices in Zurich, London, Dubai, Hong Kong, Malta, Cyprus, Bucharest, Singapore and Luxembourg, with more than 1,134 employees in 2023. Swissquote Bank Ltd holds a banking licence issued by its supervisory authority, the Swiss Financial Market Supervisory Authority (FINMA), and is a member of the Swiss Bankers Association (SBA). The Group's headquarters are located in Gland, Switzerland. The Group has 1040 employees as of December 2022.[4]

Areas of activity

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Swissquote Bank SA allows private persons to trade equities, funds, bonds, warrants, options and futures. The bank also offers services designed specifically for asset managers and corporate clients. In addition, the bank offers an electronic asset management tool, ePrivate Banking, as well as traditional banking services, including mortgages, savings accounts and more specialised transactions, such as currency trading (forex) and cryptocurrencies (35 pairs as of December 2022).[5]

History

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In 1990, Marc Bürki and Paolo Buzzi set up Marvel Communication SA. This company, which specialised in financial software applications, was the forerunner of what was to later become Swissquote.[6]

Foundation and going public

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The financial platform Swissquote was founded in 1996.[7][8] It enables private investors to access the prices of all the securities traded on the Swiss exchange free of charge and in real time. On 29 May 2000, Swissquote shares were floated on the SIX Swiss Exchange.[9] The company obtained its banking license in the same year.[10]

Acquisitions

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In 2010, two acquisitions enabled Swissquote to consolidate its position as a leader in online trading.[8][11] In June the company took over the Zurich-based company Tradejet AG, an online information platform and broker, and then took over ACM Advanced Currency Markets AG in October. The latter acquisition meant that the company's trading business then included online Forex dealing.

In September 2013, Swissquote secured a place in the international market by acquiring and merging with MIG Bank, a company specialising in Forex. This acquisition propelled Swissquote, which aspired to become a major player in the currency market, into the top ten online currency trading service providers.

In January 2015, following the Swiss National Bank's decision to discontinue the minimum exchange rate of 1.20 CHF per euro, Swissquote set aside a reserve of 25 million Swiss francs without, however, compromising the profitability or the soundness of the bank.[12]

In August 2018, Swissquote acquired the Luxembourg-based Internaxx Bank SA to gain unrestricted access to the European market.[13] Following regulatory approval by the European Central Bank and the CSSF in Luxembourg, the company was renamed Swissquote Bank Europe SA and is now a fully owned entity of the Swissquote Group.[14]

Corporate structure

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In 1990, Marc Bürki and Paolo Buzzi set up Marvel Communication SA. This company, which specialised in financial software applications, was the forerunner of what was to later become Swissquote.[6]

Group

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Swissquote Group Holding Ltd

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This company is the listed entity of the Group. It was incorporated on 12 August 1999 and has its registered office in Gland, Switzerland.

Branches

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Swissquote Bank Ltd

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Swissquote Bank Ltd holds a banking licence, is regulated by the Swiss Financial Market Supervisory Authority (FINMA) and is a member of the Swiss Bankers Association. It is headquartered in Gland and has a branch office in Zurich.

Swissquote Ltd (formerly MIG Capital (Europe) Limited)

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Swissquote Ltd, which is regulated by the Financial Conduct Authority (FCA), is an investment company incorporated in London13.

Swissquote Bank MEA Limited

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Swissquote Bank MEA Ltd is regulated by the Dubai Financial Services Authority (DFSA) and holds a Category 4 licence14.

Swissquote Asia Limited (formerly MIG Capital Asia Limited)

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Based in Hong Kong, Swissquote Asia Ltd is regulated by the Securities and Futures Commission (SFC) and holds a Category 3 licence (leveraged foreign exchange trading)15.

Swissquote Financial Services (Malta) Limited

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Swissquote Financial Services is an investment services company headquartered in Malta. It is regulated by the Malta Financial Services Authority (MFSA) and holds a Category 4a licence16.

Swissquote Pte SA

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Swissquote Pte SA is a fully-owned subsidiary of Swissquote Bank SA based in Singapore. It holds a Capital Markets Services licence issued by the Monetary Authority of Singapore (MAS)17.

Swissquote Bank Europe SA (formerly Internaxx Bank SA)

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Incorporated in Luxembourg, Swissquote Bank Europe SA has the status of a fully-fledged bank. It is regulated by the CSSF and subject to supervision by the European Central Bank.

Swissquote Capital Markets Limited

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Swissquote Capital Markets Limited was founded in Cyprus on 2 September 2021 and has been an authorised investment firm in Cyprus since 21 November 2022. It is under the supervision of the Cyprus Securities and Exchange Commission (CySEC) and is authorised to provide investment services.

Swissquote Tech Hub Bucharest S.R.L

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Founded in Romania on 19 January 2022, Swissquote Tech Hub Bucharest S.R.L. specialises in computer programming, consultancy and related activities and develops software for the Group.

Swissquote South Africa

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In March 2024, Swissquote acquired Optimatrade Investment Partners (Pty) Ltd, a financial services company headquartered in Cape Town that had been acting as an introducer for Swissquote for more than a decade. The transaction was completed on 1 March 2024.

Partnerships

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Swissquote has been the official partner of the British football club Manchester United since 26 January 2015.[15] At national level, Swissquote has also formed a partnership with PostFinance.[16] Swissquote also forms a partnership with the Basellandschaftliche Kantonalbank for online mortgages.[17][18]

References

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  1. ^ "Registre du commerce". prestations.vd.ch. Retrieved 11 November 2021.
  2. ^ "Home". swissquote.com.
  3. ^ "Swissquote".
  4. ^ "Swissquote Group".
  5. ^ "Swissquote".
  6. ^ a b "Swissquote Forex Broker Review and Rating 2023. Detailed Swissquote information with traders reviews for 3 September 2023 – Forex-Ratings.com". www.forex-ratings.com. Retrieved 2023-09-03.
  7. ^ Grundlehner, Werner (7 May 2021). "Swissquote: 25-jährig, erfolgreich, überlastet". Neue Zürcher Zeitung (in German). Retrieved 12 November 2021.
  8. ^ a b Claude Baumann (5 August 2021). "Swissquote Captures Financial Zeitgeist". finews.com. Retrieved 11 November 2021.
  9. ^ "SWISSQUOTE N". SIX (in German). Retrieved 12 November 2021.
  10. ^ "Annual Report".
  11. ^ "Swissquote Flags Renewed Surge in Profits". finews.com. 16 June 2021. Retrieved 11 November 2021.
  12. ^ "Swissquote" (PDF).
  13. ^ "Swissquote Aims to Double Profit by 2024". finews.com. 18 March 2021. Retrieved 11 November 2021.
  14. ^ https://en.internaxx.com/rebrand[dead link]
  15. ^ "Man Utd News | Team news, injury updates, transfers, new signings".
  16. ^ "Swissquote" (PDF). Archived from the original (PDF) on 2014-05-13.
  17. ^ "Die Online-Hypothek von Swissquote – ein Erfolg?". IFZ Retail Banking Blog (in German). 2 April 2013. Retrieved 11 November 2021.
  18. ^ "Ist die Online-Hypothek von Swissquote ein Erfolg?". finews.ch (in German). 2 April 2013. Retrieved 11 November 2021.
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