Smartbroker Holding AG substantiates plans for further development of Smartbroker 2.0 and announces related extra-ordinary impairment charge

Ad Hoc Notification

Disclosure of an inside information acc. to Article 17 of Regulation (EU) No 596/2014 (MAR)

Smartbroker Holding AG substantiates plans for further development of Smartbroker 2.0 and announces related extra-ordinary impairment charge

The Smartbroker Group today entered into a cooperation agreement with a new partner bank for the implementation of the Smartbroker trading platform (Smartbroker 2.0). Baader Bank, the new partner, is to take over the regulated banking processes and will in particular be responsible for account management, custody account management and trade execution. The cooperation with Baader Bank is intended to allow the launch of Smartbroker 2.0 in mid-2023.

The activities to be performed by Smartbroker Group under the cooperation agreement are already covered by Smartbroker AG's existing BaFin (Federal Financial Supervisory Authority) license as financial intermediary. The continued pursuit of the license extension application submitted in 2021 is currently under review.

The development of an own, comprehensive transaction platform will not be pursued further. Instead, the platform will be operated in cooperation with Baader Bank. In this context, the Company expects one-time non-cash impairment charges in relation to capitalized development costs for the originally planned transaction platform amounting to approximately €5 million.

Notifying person: André Kolbinger, CEO