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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), Paolo Buzzi (CTO), Michael Ploog (CIO), Morgan Lavanchy, (CLO) Gilles Chantrier (CRO), Yvan Cardenas (CFO), Lino Finini (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 the provision of 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] The Group's headquarters are located in Gland, Switzerland. The company also has offices in Zurich, Bern, London, Dubai, Hong Kong, Malta, Singapore and Luxembourg. The Group has 722 employees.

Areas of activity

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 (eForex).[4]

Corporate Structure

Swissquote Bank SA

Swissquote Bank SA holds a banking licence and is regulated by FINMA, the Swiss Financial Market Supervisory Authority. In addition to its head office in Gland, the bank also has offices in Zurich, Bern, Dubai and Hong Kong.

Swissquote Ltd (formerly MIG Capital (Europe) Limited)

Swissquote Ltd, regulated by the Financial Conduct Authority (FCA) with Firm Reference Number 562170.[5] It is an investment company based in London.[6]

Swissquote MEA Ltd

Swissquote MEA Ltd, regulated by the Dubai Financial Services Authority (DFSA), possesses a category 3A licence.[7]

Swissquote Asia Limited

Swissquote Asia Ltd, based in Hong Kong, is regulated by the Securities and Futures Commission (SFC) and holds a type 3 licence (Leverage Foreign Exchange Trading).[8]

Swissquote Financial Services (Malta) Limited

Swissquote Financial Services, based in Malta, is an investment services company. It is regulated by the Malta Financial Services Authority (MFSA) and holds a category 4a licence.[9]

Swissquote Pte Ltd

Swissquote Pte Ltd is a wholly owned subsidiary of Swissquote Bank SA based in Singapore. The company owns a license to provide services on the equity market issued by the official Financial Services Authority in Singapore (Monetary Authority of Singapore, MAS).

Swissquote Bank Europe SA (formerly Internaxx Bank SA)

Based in Luxembourg, Swissquote Bank Europe SA has full bank status and is regulated by the CSSF under the oversight of the European Central Bank.[10]

Product overview

Trading

Banking services

History

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.

Foundation and going public

The financial platform Swissquote was founded in 1996.[12][13] 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.[14] The company obtained its banking license in the same year.

Acquisitions

In 2010, two acquisitions enabled Swissquote to consolidate its position as a leader in online trading.[13][15] 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.[16]

In August 2018, Swissquote acquired the Luxembourg-based Internaxx Bank SA to gain unrestricted access to the European market.[17] 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.[18]

Partnerships

Swissquote has been the official partner of the British football club Manchester United since 26 January 2015.[19] At national level, Swissquote has also formed a partnership with PostFinance.[20] The bank will become the trading platform for PostFinance clients in May 2016. Later, together they developed a mobile app for retail investing, "Yuh", with an included cryptocurrency named Swissqoin.[21] Swissquote also forms a partnership with the Basellandschaftliche Kantonalbank for online mortgages.[22][23]

References

  1. ^ "Registre du commerce". prestations.vd.ch. Retrieved 11 November 2021.
  2. ^ "Home". swissquote.com.
  3. ^ "Swissquote".
  4. ^ "Swissquote".
  5. ^ "Swissquote Review 2021 - Is it a safe and trusted broker?". Safer Investor. Retrieved 2021-07-22.
  6. ^ "About us | Swissquote".
  7. ^ "DFSA | THE INDEPENDENT REGULATOR OF FINANCIAL SERVICES | Firms".
  8. ^ "Home". swissquoteasia.com.
  9. ^ "Member Spotlight: Borg Galea & Associates | FinanceMalta Members".
  10. ^ "Swissquote Bank Europe: Luxembourg based international investing | Swissquote". en.swissquote.lu. Retrieved 2020-12-18.
  11. ^ "SQN: Swissquote Group Holding SA Stock Price Quote - SIX Swiss Ex - Bloomberg". Bloomberg News.
  12. ^ Grundlehner, Werner (7 May 2021). "Swissquote: 25-jährig, erfolgreich, überlastet". Neue Zürcher Zeitung (in German). Retrieved 12 November 2021.
  13. ^ a b Claude Baumann (5 August 2021). "Swissquote Captures Financial Zeitgeist". finews.com. Retrieved 11 November 2021.
  14. ^ "SWISSQUOTE N". SIX (in German). Retrieved 12 November 2021.
  15. ^ "Swissquote Flags Renewed Surge in Profits". finews.com. 16 June 2021. Retrieved 11 November 2021.
  16. ^ "Swissquote" (PDF).
  17. ^ "Swissquote Aims to Double Profit by 2024". finews.com. 18 March 2021. Retrieved 11 November 2021.
  18. ^ https://en.internaxx.com/rebrand
  19. ^ "Man Utd News | Team news, injury updates, transfers, new signings".
  20. ^ "Swissquote" (PDF).
  21. ^ "Yuh: One App to Pay, Save and Invest".
  22. ^ "Die Online-Hypothek von Swissquote – ein Erfolg?". IFZ Retail Banking Blog (in German). 2 April 2013. Retrieved 11 November 2021.
  23. ^ "Ist die Online-Hypothek von Swissquote ein Erfolg?". finews.ch (in German). 2 April 2013. Retrieved 11 November 2021.
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