German systems integrator and software developer Heyde AG yesterday announced the formation of an online brokerage in association with the German arm of UK-based HSBC banking group and brokerage house Lang & Schwarz Wertpapierhandel AG.
The new company will use a trading platform developed and implemented by Heyde to offer individuals the ability to deal in shares, funds and options over the internet. The three partners are investing an initial DM12.5m ($6.65m) in the technology.
Bad Nauheim-based Heyde is a provider of software and services to wholesalers, consumer and capital goods manufacturers, banks and insurers – being best known in the financial sector for its Mentor suite of programs for customer care, as well as products for call center integration and change management.
However, since acquiring IDS Softwareentwicklungs und Softwarebetriebs AB, GISMA Gesellschaft fuer innovative Softwaremodule & Applikationen mbH and GISMA EDV System und Service mbH, (CI No 3,568) in January, it also has a platform for online securities brokerage.
The new business, which has yet to be given a name, belongs 70% to Dusseldorf-based HSBC Trinkaus & Burkhardt KGaA, with the remainder being held 17% by Heyde and 13% by Lang & Schwarz.
Paul Hagen, IT manager at Trinkaus & Burkhardt, said the new brokerage’s name will not link it to its financial sector parent, since it will be targeting a different market segment from the well-heeled, high net worth individuals served by HSBC’s private banking business.
