London, 22 March 2019 - Interactive Investor Limited, the UK's second largest D2C investment platform, is pleased to announce that it has completed the sale of its Luxembourg subsidiary, Internaxx Bank SA (“Internaxx”) to Swissquote Group. Regulatory approval from CSSF and the ECB was received on 6 March, and all the conditions have now been satisfied.
The disposal is in line with interactive investor's strategy to simplify its business and focus on the UK investment platform market. Internaxx was originally acquired by interactive investor as part of the 2017 acquisition of TD Bank’s European direct investing business ("TDDI").
NIBC Bank advised interactive investor on the transaction.
Commenting on the disposal, Richard Wilson, CEO of interactive investor, said:
"We are pleased to have completed this transaction which is another milestone in our journey to build the platform of choice for engaged investors. The sale enables interactive investor to focus on the UK investment platform market."
press office contact details
Jemma Jackson, Head of Public Relations, interactive investor
Phone: 07818 076 218
Moira O'Neill, Head of Personal Finance, interactive investor
Phone: 020 7680 3655
TB Cardew (PR Advisor to interactive investor)
Tom Allison: 07789 998 020
Shan Willenbrock: 07775 848 537
interactive investor (ii) is the UK's number one flat-fee investment platform. ii offers a wealth of unbiased information, analysis, tools and expert ideas to help customers make better informed investment decisions. ii’s award-winning trading platform provides access to an extensive choice of markets, instruments and currencies within Trading, ISA and SIPP accounts. This comprehensive investing service is underpinned by a strong focus on delivering great value for investors demonstrated through an innovative and competitive pricing model – featuring simple, flat fees and unique ‘trading credits’. interactive investor is authorised and regulated by the Financial Conduct Authority.
Disclaimer: The information contained in this press release does not constitute investment advice or personal recommendation. Past performance is no guide to the future and the value of investments can go down as well as up and you may not get back the full amount invested.