Sal. Oppenheim. jr. & Cie. joined Wiener Börse AG on Tuesday, 1 November 2005. The Bank will, with immediate effect, be participating directly in electronic trading, and will therefore be offering its clients end-to-end settlement of transactions via Xetra Vienna. This means that considerably enhanced services can be offered, especially to institutional investors, from a single source. Moreover, membership of the Vienna stock exchange further underlines the systematic expansion of international business at the Cologne-based private bank.
Dieter Pfundt, personally liable partner responsible for Investment Banking at Sal. Oppenheim explained, "Membership of another key stock exchange in central Europe that boasts one of the most modern and efficient trading systems represents another step in our bid to become one of the leading investment banks in Germanspeaking countries." The positive impetus resulting from the positioning of the Vienna stock market as a focal exchange between east and west, together with healthy corporate results, have been reflected in the market's performance, particularly over the last few years. "Sal. Oppenheim's membership of Xetra Vienna again highlights our commitment to the Austrian market. It is an important milestone in the continuous expansion of our service offering for partners and clients," continued Pfundt. The plan is to considerably increase the transaction volume in Investment Banking as a whole, as well as in Equity Sales.
"We are delighted that in Sal. Oppenheim we have won over a leading investment bank as a new trading member of the Vienna Stock Exchange. Sal. Oppenheim is a particularly important partner for us in terms of boosting representation of the Austrian capital market in Germany," said Stefan Zapotocky, member of the Management Board at Wiener Börse AG. Founded in 1771, Wiener Börse, now a state-of-the-art financial services company, plays a key role in the Austrian capital market. Central business areas include trading on the spot market (equity market, bond market) and on the futures market, as well as warrant trading.
Source: Sal. Oppenheim