Profile: flatex AG (FLAG.DE)

flatex AG is a Germany-based financial services provider, engaged in the asset management and investment consultancy services. The Company operates primarily through its online portal flatex.de and acts as a broker for securities trading. Its customers’ accounts and investment portfolios are held by its partner, biw AG, a German deposit bank, which has direct access to Xetra trading, German stock exchanges, EUREX, TIQS, XO, Tradegate, selected European stock exchanges, as well as Canadian and American stock exchanges. The technical platform for the Internet portal of flatex AG is operated by XCOM AG, a banking software provider. As of December 31, 2008, the Company had two wholly owned subsidiaries: flatex & friends GmbH, operating the online portal www.boerseZV.de for exchange of information and opinions related to securities, shares as well as derivatives; and MYFONDS.DE GmbH, offering private customers funds information and online broker comparison of fund conditions.