Swiss Internet service provider Swissquote Group Holding Ltd (Swissquote), which announced earlier this week that it has been granted a licence to run an online bank by the Swiss Federal Banking Commission, said yesterday that it was also buying the business operations of Swiss firm InvestServices.com, which specializes in the online analysis of financial products, in particular shares and investment funds. Swissquote will take over the databases, customers and domain name of InvestServices.com as well as part of its staff.
Marc Buerki, joint CEO of Swissquote, commented: 'By acquiring the business operations of InvestServices.com, we are underscoring our determination to steadily expand the content available on our financial portal www.swissquote.ch, thereby offering our customers new and targeted services.'
The internet-based analysis services developed by InvestServices.com will facilitate the growth of Swissquote's own services in the field of fundamental analysis of securities, the company said. The information offering of InvestServices.com will be optimized by the end of 2000 and integrated in the Swissquote platform.
Effective immediately the "Warrants Chooser" application is available free of charge for all users as an additional, new financial service on www.swissquote.ch. With "Warrants Chooser", market players can select the most suitable warrant, basing their decision on a defined scenario of future market trends. As far as Swissquote's new online bank is concerned, the launch is scheduled for the first quarter of 2001.
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