First security trade in space: flatexDEGIRO launches trading platform experiment on ESA satellite
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First space security trade: flatexDEGIRO launches ESA satellite trading platform experiment (news with additional features)
01.10.2021 / 10:00
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First space security trade: flatexDEGIRO launches ESA satellite trading platform experiment
– The experiment provides valuable information on the feasibility of satellite-supported trading systems and their potential use in business continuity management
– New technical knowledge on measuring latency, execution speed and communication time to further improve the security and usability of the trading platform
Frankfurt / Main and Darmstadt – flatexDEGIRO AG (WKN: FTG111, ISIN: DE000FTG1111, Ticker: FTK.GR), the leading and fastest growing online retail broker in Europe, has successfully launched an experiment with a practical platform for trading on board satellite , run by Europeans The space agency, the first-ever space securities transaction to build on its existing, self-developed trading system. The knowledge gained will be used to further increase the usability of the company’s innovative cloud computing solutions for the benefit of flatexDEGIRO’s online brokerage clients.
In collaboration with the European Space Agency (ESA), flatexDEGIRO conducted an in-orbit trading experiment last night to get an idea of the feasibility of satellite-supported trading systems. The experiment focuses on obtaining new information about storage space, communication and execution speeds, delays, and additional security features, all conducted aboard ESA’s OPSSAT test field satellite, now in low Earth orbit.
As part of the experiment, flatexDEGIRO developed a space protocol in its existing trading system to communicate with the OPSSAT satellite and implemented patented software to create a fully operational trading platform. Yesterday, around 19:00 CEST, flatexDEGIRO successfully conducted the first of its kind security trading in space through this satellite trading platform.
Frank Nihage, CEO of flatexDEGIRO AG, says: “We are constantly looking for innovative solutions to provide our customers with the fastest, safest and most reliable platform. Satellite-enabled trading systems also have the potential to play an important role in the future business continuity. The technological advantage we have over other online brokers allows us to go far beyond industry standards and introduce unprecedented trading systems and features. Having managed to conduct the first-ever stock exchange trading in space using our award-winning proprietary trading platform installed on an ESA satellite fills us with great pride and highlights the exceptional experience of all our 1,000 colleagues, 500 of whom work in IT alone. “
Offering its customers best-in-class online brokerage, built on the most modern and reliable technical infrastructure, is a strategic imperative for flatexDEGIRO. Muhammad Chahrur, CFO of flatexDEGIRO AG and CEO of DEGIRO, added: “We will stimulate further technological progress and play an important role in shaping the retail of online brokers in Europe. Today, our highly scalable platform is able to manage several hundred million “Security deal a year with 100% availability. That’s why more than 1.75 million customers already trust us and have traded a total of over € 300 billion on our platform over the last twelve months” .
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For flatexDEGIRO AG
flatexDEGIRO AG (WKN: FTG111, ISIN: DE000FTG1111, Ticker: FTK.GR) operates one of the leading and fastest growing online brokerage businesses in Europe, performing millions of paperless securities transactions annually. B2C customers in 18 European countries are served through the flatex and DEGIRO brands and offer a wide range of independent products at competitive prices based on modern, state-of-the-art technology.
With more than 1.75 million customers and over 75 million securities transactions in 2020, flatexDEGIRO is the largest online retail broker in Europe. In a time of bank consolidation, low interest rates and digitalisation, the flatexDEGIRO Group is ideally positioned for further growth. Over the next five years, flatexDEGIRO aims to increase its customer base to 7-8 million customers by settling at least 250-350 million transactions annually, even in low-volatility years.
More information via https://www.flatexdegiro.com/en
OPSSAT is ESA CubeSat and is the world’s first “flying test” lab dedicated to testing new mission control technologies – such as new satellite control techniques or new software that makes spacecraft more intelligent – in space. It breaks down the very high barriers that normally hinder orbital testing – leading to future savings – and will allow European industry and academia to demonstrate innovative new technologies and prove their worth in space. Launched in December 2019, more than 200 European experiments were conducted, covering on-board software applications, artificial intelligence, advanced communication protocols and compression techniques, software-defined radio, optical communication, advanced autonomous planning, web services in space and much more.
More information via https://www.esa.int/opssat
The European Space Agency (ESA) provides Europe’s gateway to space. ESA is an intergovernmental organization set up in 1975 with the mission of shaping the development of Europe’s space capabilities and ensuring that space investments benefit 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 EU Member States. Canada participates in some ESA programs under the Cooperation Agreement.
By coordinating the financial and intellectual resources of its members, ESA can undertake programs and activities far beyond the reach of any single European country. He is working in particular with the EU on the implementation of the Galileo and Copernicus programs, as well as with Eumetsat on the development of meteorological missions.
Learn more through https://www.esa.int
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