DGAP-News: MWB Gets Permit for Trade on Commission
2001-06-29 08:00
Repositioning of the Order Execution Business Planned
Gräfelfing/Munich, June 29, 2001. MWB Wertpapierhandelshaus AG has received permission from Germany"s Federal Banking Supervisory Office to conduct trades on commission in accordance with § 1 par. 1 s. 2 of the German Banking Act. The permit gives MWB the status of a securities bank and provides it the opportunity to win many German and international institutional investors as clients.
"The permit to conduct trades on commission lets us add new content to our order execution business," says Thomas Posovatz, speaker of the MWB managing board. "We"re also optimistic we can build this business into a second permanently successful pillar for our company." With the permit to trade on commission, MWB can now buy and sell financial products in its own name and on behalf of third parties.
Gräfelfing/Munich, June 29, 2001. MWB Wertpapierhandelshaus AG has received permission from Germany"s Federal Banking Supervisory Office to conduct trades on commission in accordance with § 1 par. 1 s. 2 of the German Banking Act. The permit gives MWB the status of a securities bank and provides it the opportunity to win many German and international institutional investors as clients.
"The permit to conduct trades on commission lets us add new content to our order execution business," says Thomas Posovatz, speaker of the MWB managing board. "We"re also optimistic we can build this business into a second permanently successful pillar for our company." With the permit to trade on commission, MWB can now buy and sell financial products in its own name and on behalf of third parties.