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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
Area served
Zurich, London, Luxembourg, Malta, Bucharest, Cyprus, Dubai, Singapore, Hong Kong, Cape Town
Key people
Marc Bürki (CEO), Alexandru Craciun (CTO), Morgan Lavanchy, (CLO) Gilles Chantrier (CRO), Yvan Cardenas (CFO), Nestor Verrier (COO), Jan De Schepper (CSO), Tara Yip (CPO)
ProductsTrading, Investment and Banking
531.8 million CHF (2023)[2]
217.6 million CHF (2023)[2]
Total equity898.6 million CHF (2023)[2]
Number of employees
1,134 (2023)
Websitewww.swissquote.com

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

History

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Foundation of Marvel Communication SA (1990)

[edit]

In 1990, Marc Bürki and Paolo Buzzi founded Marvel Communication SA, which specialised in developing software and web applications for the financial sector.[4]

Swissquote: the free financial platform (1996)

[edit]

Marvel Communication SA released the financial platform Swissquote, which in 1996 became the first platform to offer free access to all securities traded on the Swiss stock exchange.[5][6][7]

Stock exchange listing of Swissquote (2000)

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On 29 May 2000, Swissquote went public, listing 410,000 registered shares with a total value of CHF 100 million on the SIX Swiss Exchange[8] under the symbol SQN. In the same year, the company obtained its banking license.[9][10]

Expansion into international markets (2001-2002)

[edit]

In 2001, Swissquote gained access to the Swiss stock exchange (then SWX and Virt-X), the US stock exchanges NYSE, NASDAQ and AMEX. In 2002, after the takeover of Consors (Switzerland) AG and customers of Skandia Bank Switzerland, Swissquote expanded its offering to include new markets, financial products and services.[11][12]

Partnerships and stages of development (2009–2016)

[edit]

In 2009, Swissquote created a chair in quantitative finance at the Swiss Federal Institute of Technology in Lausanne (EPFL) and launched the company's first quant funds.[13] In 2010, Swissquote made two significant acquisitions. In June, it acquired Tradejet AG, a Zurich-based online information platform and broker.[14] Later, in October, it acquired ACM Advanced Currency Markets AG, expanding its operations to include online Forex trading.[10][6][15]

In February 2013, Swissquote partnered with Basellandschaftliche Kantonalbank to provide online mortgage services.[16][17] In September of the same year, Swissquote expanded in the international market by acquiring MIG Bank, a major forex broker.[18][19] In 2014, the company introduced Swiss DOTS, a trading platform for leveraged products in collaboration with UBS, Goldman Sachs, BNP Paribas, Vontobel and Société Générale; and a partnership with PostFinance agreed in 2014.[20][21]

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 CHF 25 million without, however, compromising the profitability or soundness of the bank.[22] On 9 February 2015, Swissquote Financial Services surrendered its Category 3 Investment Services License to the Malta Financial Services Authority.[23]

The same year, the company launched Themes Trading, a new thematic investing service that provides customers with information to invest in identified trends.[24] Also, Swissquote launched an Apple TV application that provides round-the-clock financial news coverage.[25][26] Inspired by Pokémon GO, the company’s engineers also developed Swissquote GO, a geolocalised financial game in Switzerland.[27][28]

Progressing into cryptocurrencies (2017)

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In 2017, Swissquote offered trading in five cryptocurrencies (Bitcoin, Bitcoin Cash, Ether, Litecoin and Ripple).[29]

Expansion and new banking services (2018-2019)

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In August 2018, Swissquote acquired the Luxembourg-based Internaxx Bank SA with around 12,000 clients and client assets of EUR 2 billion, gaining access to the European market.[30] Following regulatory approval by the European Central Bank and the CSSF in Luxembourg, the company was renamed Swissquote Bank Europe SA and became a fully owned entity of the Swissquote Group.[31][32] The acquisition coincided with regulatory changes by the European Securities and Markets Authority, which limited leverage for retail brokers and prohibited the marketing, distribution, and sale of binary options, indirectly benefiting Swissquote's business model.[33]

In the same year, Swissquote launched its multi-currency credit card, which could be used to pay in 12 different currencies without conversion fees.[34][35]

Swissquote maintains partnerships with major financial institutions such as Banque Pictet, UBS, BlackRock, Vontobel,[36] HSBC, Zürcher Kantonalbank and others, enabling its clients to invest in investment funds.

Since October 2018, Swissquote offers the possibility to buy tokens with Swiss francs via their account and hold them in custody by participating in initial coin offerings (ICOs).[37][38]

In 2019, the company expanded in the Asia-Pacific region by opening Swissquote Singapore Pte.[39]

In November 2019, the Swiss Public Prosecutor's Office launched an investigation into Swissquote Bank over allegations of money laundering. The bank was suspected of facilitating the concealment of over $100 million in funds allegedly evading tax authorities, which had been transferred from the Puerto Rican bank Blue Ocean by the Helin Group.[40][41][42]

Launch of Yuh with PostFinance (2021)

[edit]

On April 7, 2021, Yuh Ltd. was founded as a joint venture between Swissquote Bank AG and PostFinance AG in Switzerland.[43][44] The Yuh app was launched to provide users with tools for paying, saving, and investing, offering options such as stocks, cryptocurrencies, thematic investments, and exchange-traded funds (ETFs), with a focus on accessibility for beginners.[45]

Recent developments and strategic partnerships (2021-Present)

[edit]

In recent years, Swissquote has added more services to its product range with LUKB since 2021.[46]

In October 2022, Swissquote launched a crypto exchange SQX and gained access to the Dubai Financial Market.[47][48] On November 11-12, the platform experienced a massive DDoS attack and was down for a significant time.[49]

Since 2023, Swissquote supports South African project Santé Solaire as part of its commitment to sustainable development projects.[50]

In March 2023, as part of its Themes Trading offering, Swissquote introduced the Impact Investing portfolio. This portfolio enables clients to invest in quality stocks while directing 50% of dividends toward real-world projects, such as Solafrica’s initiative to bring solar power to a healthcare center in Burkina Faso.[51]

In May 2023, Swissquote partnered with investment firm Stableton and Morningstar Indexes to launch an actively managed certificate (AMC) targeted at Swiss retail investors. The AMC provides exposure to 20 selected unicorn companies identified by Morningstar.[52] Later that year, Swissquote introduced a new investment and savings solution for asset management.[53]

In November 2023, Swissquote introduced the Swiss Real Estate Certificate, managed by Finstoy, a Lausanne-based wealth management firm with over a decade of experience. This certificate allows investors to access the Swiss real estate market by investing in a portfolio of real estate funds that own properties exclusively in Switzerland.[54]

In October 2024, Swissquote introduced fractional share trading for retail investors[55] and expanded its collaboration with BNP Paribas' Securities Services business.[56]

Operations

[edit]

Swissquote provides a range of financial services, including trading in equities, funds, bonds, warrants, options, and futures, catering to retail investors, asset managers, and corporate clients. The company also offers digital solutions such as the electronic asset management tool ePrivate Banking, alongside traditional banking services like mortgages, savings accounts, and more specialized options, including currency trading (forex) and cryptocurrencies.[55]

Swissquote operates eight entities authorized in different jurisdictions.[57] Key entities include Swissquote Bank Ltd in Switzerland, Swissquote MEA Ltd in Dubai, Swissquote Bank Europe in Luxembourg and Swissquote Capital Markets Ltd Cyprus. Additional operations span locations in London, Malta, Singapore, Hong Kong, Romania, and South Africa, offering banking, investment, and technology services.[58]

As of June 2024, Swissquote managed over CHF 68 billion in client assets across more than 610,000 private and institutional accounts. In the first half of 2024, the company reported net revenues of CHF 316.9 million (USD 365 million), representing a 19.3% increase compared to the same period in 2023. Pre-tax profit grew by 35.9% year-over-year to CHF 169.7 million, while net profit reached a record CHF 144.6 million. Notably, net income from crypto assets surged by 369% to CHF 35.1 million, accounting for over 11% of Swissquote's total revenue during this period.[59][60]

Products

[edit]

Swissquote provides financial products and services for individuals, companies, and financial institutions.

Retail clients

[edit]

Swissquote offers a range of services for private individuals, including trading, with access to stocks, ETFs, bonds, options, futures, structured products, and exclusive features like Swiss DOTS and Themes Trading.[61]

  • Its cryptocurrency services provide trading, custody, wallet solutions, and staking for digital assets.[62]
  • Forex and CFD trading is supported through Swissquote’s proprietary CFXD platform and MetaTrader 4 and 5, featuring Autochartist for trading signals.[63]
  • Banking and savings options include "Invest Easy" for portfolio management,[64] "3a Easy" for retirement savings,[65]  checking accounts, debit cards, and mortgages in partnership with Luzerner Kantonalbank.
  • The Yuh app, developed with PostFinance, provides tools for payments, savings, and investments.[66][67]

Institutional clients

[edit]

Swissquote provides a range of services for companies and financial institutions.

  • Its Trading and Brokerage offerings include multi-asset brokerage, global custody, structured products, Lombard loans, securities lending, and depository management.
  • The Foreign Exchange and Treasury services cover forex spot trading, swaps, forward contracts, leveraged trading, precious metals, and trust investments.[68]
  • Swissquote’s Digital Assets services include crypto trading, custody, staking, lending, and the operation of its proprietary SQX crypto exchange.[69][70]
  • The company also offers Technology Solutions, such as FX trading venues and APIs for seamless integration with trading platforms.[71]

Sponsorship

[edit]

From January 2015 to May 2021, Swissquote was the official partner of Manchester United. This global partnership aimed to make the banking group’s services accessible to a wider audience, as the club has more than 650 million fans worldwide.[72]

By 2020, the company became the official sponsor of the Swiss ice hockey club Genève-Servette HC (GSHC).[73] In 2021, it became the official sponsor of the ZSC Lions.[74][75][76][77][78]

Since 2021, Swissquote is a partner of the UEFA Europa League and UEFA Europa Conference League.[79][80]

In December 2024, Swissquote, along with its joint venture Yuh, was announced as an Official National Partner for the UEFA Women's EURO 2025, set to be held in Switzerland.[81]

References

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  74. ^ Segal, Gerald (2023-07-24). "Swissquote extends sponsorship of ZSC Lions hockey to 2026". FX News Group. Retrieved 2025-01-28.
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Retrieved from "https://en.wikipedia.org/w/index.php?title=Swissquote&oldid=1272383482"
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