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DGAP-News: flatexDEGIRO AG / Key word(s): Miscellaneous
First security trade in space: flatexDEGIRO launches trading platform experiment on ESA satellite
- Experiment provides valuable insights into feasibility of satellite-supported trading systems and their potential use in business continuity management
- New technical insights on latency measurement, execution speed and communication time to further improve security and usability of trading platform
Frankfurt/Main and Darmstadt - flatexDEGIRO AG (WKN: FTG111, ISIN: DE000FTG1111, Ticker: FTK.GR), Europe's leading and fastest-growing retail online broker, has successfully launched a practical trading platform experiment on board a satellite flown by the European Space Agency, executing the first ever securities transaction in space, built on its existing, self-developed trading system. The knowledge gained will be used to further enhance the usability of the company's innovative cloud-computing solutions to the benefit of flatexDEGIRO's online brokerage customers.
In collaboration with the European Space Agency (ESA), flatexDEGIRO yesterday evening performed an in-orbit trading experiment to gain insights into the feasibility of satellite-supported trading systems. The experiment focusses on obtaining new information on storage space, communication and execution speed, latencies and additional security features, all conducted on board ESA's OPSSAT test-bed satellite, now in low-Earth orbit.
As part of the experiment, flatexDEGIRO developed a Space Protocol in its existing trading system for communication with the OPSSAT satellite and deployed proprietary software to establish a fully operational trading platform. Yesterday, at around 7:00 pm CEST, flatexDEGIRO successfully executed the first-ever security trade in space via this satellite-based trading platform.
Frank Niehage, CEO of flatexDEGIRO AG, says: "We are constantly looking for innovative solutions to provide the fastest, most secure and reliable platform to our customers. Satellite-supported trading systems also have the potential to play a major role in future business continuity management. The technological edge we have over other online brokers allows us to go far beyond industry standards and pioneer unprecedented trading systems and features. Having been able to conduct the first-ever stock trade in space using our award-winning proprietary trading platform installed on an ESA satellite fills us with immense pride and highlights the outstanding expertise of all our 1,000 colleagues, out of which 500 working in IT alone."
Offering its customers best-in-class online brokerage experience, built on the most advanced and reliable technical infrastructure, is a strategic imperative for flatexDEGIRO. Muhamad Chahrour, CFO of flatexDEGIRO AG and CEO of DEGIRO, adds: "We will drive further technological advancement and play a major role in shaping the retailisation of online brokerages in Europe. Already today, our highly scalable platform is capable of handling several hundred million security transaction per year with 100 percent availability. That is why more than 1.75 million customers now place their trust in us and have traded a total volume of more than 300 billion euros on our platform in the last twelve months."
flatexDEGIRO AG (WKN: FTG111, ISIN: DE000FTG1111, Ticker: FTK.GR) operates one of the leading and fastest-growing online brokerage businesses in Europe, executing millions of paperless securities transactions per annum. B2C customers in 18 European countries are serviced via the flatex and DEGIRO brands and offered a wide range of independent products at competitive pricing, based on a modern, in-house state-of-the-art technology.
With currently more than 1.75 million customers and over 75 million securities transactions in 2020, flatexDEGIRO is the largest retail online broker in Europe. In a time of bank consolidation, low interest rates and digitalization, the flatexDEGIRO Group is ideally positioned for further growth. Within the next five years, flatexDEGIRO aims to grow its customer base to 7-8 million customers, settling at least 250-350 million transactions per year - even in years with low volatility.
More information via https://www.flatexdegiro.com/en
OPSSAT is an ESA CubeSat and is the world's first 'flying testbed' laboratory dedicated to testing new mission control technology - such as new techniques for satellite control or new software that makes spacecraft more intelligent - in space. It is breaking down the very high barriers that normally prevent in-orbit testing - leading to savings in the future - and it will allow European industry and academia to showcase innovative new technology and prove its value in space. Launched in December 2019, over 200 European experiments have been flown, spanning onboard software applications, artificial intelligence, advanced communication protocols and compression techniques, software-defined radio, optical communication, advanced autonomous planning, web services in space and much else.
More information via https://www.esa.int/opssat
The European Space Agency (ESA) provides Europe's gateway to space. ESA is an intergovernmental organisation, created in 1975, with the mission to shape the development of Europe's space capability and ensure that investment in space delivers benefits to the citizens of Europe and the world. ESA has 22 Member States: Austria, Belgium, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Luxembourg, the Netherlands, Norway, Poland, Portugal, Romania, Spain, Sweden, Switzerland and the United Kingdom. Slovenia, Latvia and Lithuania are Associate Members.
ESA has established formal cooperation with five Member States of the EU. Canada takes part in some ESA programmes under a Cooperation Agreement.
By coordinating the financial and intellectual resources of its members, ESA can undertake programmes and activities far beyond the scope of any single European country. It is working in particular with the EU on implementing the Galileo and Copernicus programmes as well as with Eumetsat for the development of meteorological missions.
Learn more via https://www.esa.int
01.10.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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