Lang & Schwarz

Trade Republic has ended the exclusive forwarding of orders to Lang & Schwarz, causing trading volumes on the LS Exchange to fall by up to 92% since early July. Lang & Schwarz's stock dropped by more than a third within a few days and is back at 2024 levels. The reasons cited include Trade Republic's new routing-based trading system and internal matching; Lang & Schwarz still expects trading income above €109 million but currently cannot reliably quantify the impact. » Altro su handelsblatt.com

Trade Republic will introduce its own trading technology and a best-price algorithm and will in future execute orders directly in its own book rather than routing them through Lang & Schwarz. Lang & Schwarz therefore expects a slight to at most moderate year-on-year decline in trading income and sees impacts on the group business. The announcement sent L&S shares down by more than 19 percent, while Flatexdegiro reacted only moderately. » Altro su de.investing.com

Lang & Schwarz expects, as a result of Trade Republic’s decision to execute orders at the best available price, a slight to at most moderate reduction in its trading result in 2026. The company expects the 2026 trading result to still be above the 2024 level. In the second quarter of 2026 the trading result was around EUR 32 million. Lang & Schwarz is simultaneously advancing the development of an additional trading model with multiple securities service providers to tap additional liquidity. » Altro su de.investing.com