• Lang & Schwarz said Trade Republic’s new trading technology is a major disruption for its exchange market-making business.
• It highlighted structured products as independent from Trade Republic order flow, citing trading income of about EUR 30 million in H1 2026.
• That compares with nearly EUR 20 million a year earlier, supported by issuance of over 75,000 own products versus nearly 45,000.
• It is advancing market making via new venue connections, building on its move into Xetra Retail market-maker activities last year.
• A multi-market-maker model is targeted for end-2026, subject to partner agreements, with impacts not yet quantifiable.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. LS - LANG & SCHWARZ AG published the original content used to generate this news brief on July 16, 2026, and is solely responsible for the information contained therein.