Société Générale Signs Exclusive CFD Partnership with flatex AG

flatex AG, a German-headquartered company which offers online brokerage services, announced this Wednesday that it has won an exclusive contract with Société Générale, where the French bank will be its contracts for difference (CFD) product provider for its brokerage business.

The agreement, which is valid until 2025, has been made as part of Société Générale’s ongoing integration of Commerzbank’s EMC business. Previously, the EMC business had been the exclusive CFD partner of flatex. Upon the completion of the Acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term, the deal between the French bank and the German broker will commence.

flatex AG expects a sizeable boost to CFD business

By partnering with Société Générale, flatex expects income from its CFD business to increase significantly. Per year, the broker processes more than 2 million CFD transactions. In total, the company executes approximately 12.5 million customer’s securities transactions paperless per annum.

Furthermore, the long-term partnership will allow flatex to offer its customers a greater variety of products in the future, the statement released today said. However, the company did not specify what these new products might be.

Commenting on the collaboration, Frank Niehage, the Chief Executive Officer (CEO) of flatex AG, said: "We are delighted to have won Societe Generale, a top-tier derivatives player and one of the future leading CFD product providers, as our exclusive product partner."

“This allows us to guarantee our clients a strong and reliable product partner for the coming years. Together we will expand the product range and further increase the product quality. And due to the existing system interfaces of the former Commerzbank partnership, no additional technical effort is required - a win-win-win deal.”

flatex provides banking services, as well as brokerage, securities, credit servicing, routing, and ATM services. For its business to consumer (B2C) operations, which includes its brokerage unit, the company has more than 300 thousand customers. The company is part of Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term Group AG.