Tradegate Exchange - a stock exchange geared to private clients - is expanding the number of banks and brokers connected, with OnVista Bank the latest market participant added on Wednesday.
OnVista Bank customers thus have direct access to securities trading on Germany's second largest stock exchange for private investors and active traders.
"We welcome OnVista, one of the leading online brokers, as a new market participant. This connection continues our growth strategy. An increasing number of investors are profiting from the Tradegate stock exchange with its key competitive advantages such as commission-free trading, long trading hours until 10 p.m. and intelligent order types for private investors," said Jochen Thiel, Managing Director at Tradegate Exchange GmbH.
"In particular, Tradegate Exchange's longer trading hours are a perfect complement of our offering," said Klaus-Jürgen Baum, Managing Director of OnVista Bank GmbH. "It was important for us to offer this additional service to OnVista Bank customers as soon as possible."
Previously an off-exchange trading platform, Tradegate has been operating as a regulated stock exchange since the beginning of 2010. It completed its first quarter as a public-law stock exchange very successfully. The number of transactions increased year-on-year by 48 percent. A total of around 717,000 transactions were executed in the four instrument groups equities, bonds, ETFs and investment funds in the first three months of the year - some 234,000 more than in the first quarter of 2009.
Tradegate's market share and trading activity have risen continuously and significantly since it was founded in 2001. From just under 40,000 trades in 2001, the number had risen to around 2.4 million in 2009.