BNP Paribas Securities Services was selected for its local German market expertise and proven track record of servicing local German market makers.
Thorsten Commichau, Member of the Board of Directors at Tradegate AG, said: “As a market specialist on the Tradegate Exchange – Germany’s leading and Europe’s fastest growing retail exchange – we are committed to offering outstanding quality in stock exchange trading. We are delighted to expand our long standing, successful partnership with BNP Paribas, which will now provide us with innovative transaction settlement services on the German market.”
“We are highly committed to supporting the German broker community with multi-asset class global clearing solutions,” said Gerald Noltsch, Head of BNP Paribas Securities Services Germany. “We are delighted to win the mandate from Tradegate AG, which is a market leader in this industry sector in Germany, and look forward to developing this new partnership further.”
Berlin-based Tradegate AG Wertpapierhandelsbank supervises the trading of several thousand domestic and foreign securities, including Tradegate Exchange, the Frankfurt and Berlin stock exchanges. Tradegate AG operates as a liquidity provider and market-maker for some 10,000 securities.
The exchanges covered by the mandate include Tradegate Exchange, XETRA, the main electronic exchange in Germany, and all the regional German exchanges for which Tradegate AG are either liquidity provider or market maker.