Swissquote, with 220,000 customers, is currently the largest online broker in Switzerland. When the partnership takes effect, its online trading platform will also be available to the approximately 60,000 PostFinance trading customers. PostFinance, for its part, will receive a 5 percent stake in Swissquote.
Both Swissquote and PostFinance want to continue to offer their own online trading solutions. PostFinance’s newly-designed trading offers will be launched in 2015.
Another new development is PostFinance’s move into custody banking. Previously, PostFinance partnered with the Banque Cantonale Vaudoise (TradeDirect) to provide custody banking services.