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Investing.com -- flatexDEGIRO (ETR:FTKn) shares traded lower on Wednesday after the broker reported an 11% drop in settled transactions in August, even as customer accounts and assets under custody continued to grow.
The Frankfurt-based company said customers settled 5.42 million transactions in August, down from 6.06 million in July.
Compared with a year earlier, transactions rose 4%. Cash products, including stocks, bonds, exchange-traded products and crypto, made up 71% of trades, while 22% were ETF and fund trades.
Daily average revenue trades fell to 0.258 million in August, a 6% decline from July but a 9% increase from August 2024.
Despite the slowdown in trading activity, flatexDEGIRO’s customer base grew. About 33,400 new accounts were opened in August, bringing the total to 3.35 million. That marked a 1% rise from July and a 14% gain year over year.
Assets under custody stood at €88.35 billion at the end of August, up 1% from July and 42% higher from a year earlier. Securities accounted for €83.15 billion, while cash deposits totaled €5.20 billion.
The margin loan book remained unchanged at €1.22 billion, an increase of 12% from August 2024.