MEGATHREAD: Finnish stocks 🇫🇮

Glorious. I was a participant on day one of Freetrades Finnish (and European) expansion milestones.

Bought a share of Atkia Bank and interested in Kone also.

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How fabulous. Had the pleasure of working for KONE for 10+ years with 4 of those living & starting our family in Helsinki. Some amazing times with an amazing company with amazing people in an amazing country :finland::pray:t3:Kippis :beers::blue_heart::white_heart::sunglasses:

It was craaaaazy to be there and witness the downward spiral of Nokia (HQ next to KONE HQ). They had it in their hand and dropped it badly…

PS hands and feet just about back to having some feeling after the cold. Just about :cold_face::rofl:

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Awesome! We have a 1934 KONE lift in our block - looks particularly scary with an old school grinder but so far so good :sweat_smile:

Where did you live in Helsinki?

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Edit: I did it wrong! Blame jet lag. At least it is a delicious mistake.

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Do you know something?:thinking:

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Great question @hookedinvesting, I’m glad you ask! We are indeed connecting to the European markets directly, and connecting to a major CCP to clear trades. I’ll explain more here.

At face value, this new feature might seem simple - a bunch more stocks added to the platform. However, beneath the surface, it’s anything but simple, and what sets this new feature apart is ingrained in the DNA of Freetrade: investing time, energy and money into developing the right technology to build a sustainable business, supporting our clients throughout their lives. In short, this is the most complex piece of engineering and operations work since we built the Invest platform in 2019/20.

Our strategy with European trading is to effectively put you on the trading floor, trading alongside the brokers, market makers and institutions - rather than trading through those groups and lining their pockets with profit. This gives us several key differentiators: we can offer the best prices because we’re removing the counterparties that would take a cut from the spread you receive; and we can extend our stock universe with more trading venues in future using the same technology.

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Do you plan on doing the same for US markets - removing the dependency on drivewealth?

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Is Freetrade acting as the counterpart, market maker or other similar role when we deal with European stocks?

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Is the UK based freetrade nominees ltd or a European equivalent being used as the custodian?

Freetrade nominees Europe LTD if you will?

It’s a pity that quite a few of the finnish stocks are only for plus members. What’s the criteria for non-LSE to be only for Plus members?

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Finnish stocks available to all members are “those that feature in the Helsinki 25.”

I forget the criteria for the USA, but it’s probably stocks inside of the S&P500.

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Thanks for taking the time to provide an insightful answer @Duncan well done team :freetrade: on shipping before Xmas :christmas_tree:

image

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@Kraftskiva

Moikka :wave:t3: We stayed downtown in Tähtitorninkatu. Loved it. Good times :ok_hand:t3:

I’m sure that elevator will last forever :muscle:t3::muscle:t3::rofl:

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Moi!

:sweat_smile: :sweat_smile: let’s hope so. If I stop posting, pls send engineers!

Very nice part of town - walked over there many times :ok_hand:t3:

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Thanks for the answer, Duncan!

I’d be lying if I said I fully understand the explanation, but that is likely due to my own lack of knowledge :sweat_smile:

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So @duncan what’s the difference between CCP and ‘market makers and institutions’?

Are you saying that they are not

?

I mean someone is obviously making the market here. That is the reason for a spread. Someone must be making the market liquid here. If there are no market makers - that is fine as it is easy to see how technology can remove them from the picture. But it is hard to understand how Freetrade differentiates: it can only use the API’s that are provided by an appropriate gateway or exchange. The API’s might be such that they “take care of liquidity” because of dividing transactions up so on and so forth … but if so I’d guess that all brokerages would do that? There is no reason for any brokerage to use them unless they have to use them.

By reading this, I now feel my question was stupid, revealing I know nothing about what happens in the engine room

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Was having a look today. Attempted to buy Kone at €61.10 but the trade failed.

I’ve seen this companies name on multiple lifts and I know they are a huge player.

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Nope your question was not stupid. It is unclear from what was in the original comment how the market is made i.e. where the liquidity in the market comes from. So the spirit of your question is not unreasonable.

To reiterate: The CCP interposes itself between counterparties.

In other words the CCP is a middleman.

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Nice! Finnair is looking tempting to me :slightly_smiling_face:

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