European Diversified Financials: Lunchtime Snack

Research evidence excerpt

European Diversified Financials: Lunchtime Snack

Equity Research

European Diversified Financials

3 July 2026

Lunchtime Snack

We assemble an easily digestible summary of all our research,

reporting and news from the last week to enjoy over lunch.

Highlights include: Diverging June trading at the EU/Nordic European Diversified Financials POSITIVE

platforms, our view of exchange monthly vols ahead of European Diversified Financials

company releases & key news (SAVE German expansion, Grace Dargan

HOOD perps). +44 (0)20 3555 4065 grace.dargan@barclays.com

Barclays, UK

THE HOUSE SPECIAL Michael Sanderson

Chart of the week +44 (0)20 3134 2487

michael.sanderson@barclays.comThe EU/Nordic platforms have released their June monthly statistics. Across all three platforms,

savings capital grew modestly MoM (1-2%) & customer growth continued (including c.32k net

additions at both flatexDEGIRO and Nordnet). However, there was more divergence in trading Krystal Han

trends (see Figure 1 below). flatexDEGIRO showed the strongest momentum (+11% MoM), with +44 (0)20 7116 1890

krystal.han@barclays.comAvanza the softest (-14% MoM) - albeit all the platforms show meaningful YoY growth. We

discussed the prospects for growth in our note EU/Nordic Platforms: Growing gains; initiate

flatexDEGIRO at OW, u/g Avanza to OW, 12 Jun 26. Hafsa Yasir

+44 (0)20 7116 3644

FIGURE 1. June 2026 monthly statistics show strong trading volumes for flatexDEGIRO versus Nordic hafsa.yasir@barclays.com

platforms, although YoY numbers are still positive Barclays, UK

60% 52%

YoY %PlatformsMoM % June 2026 trading volumes: MoM and YoY change % Claudia Gaspari50% 60% +44 (0)20 3134 6039 52%

40% Avanza Nordnet Flatex claudia.gaspari@barclays.com 50%

27% Barclays, UK30% 40% 23%

20% 27%

30% 23% 11%

10%

20% 0% 11%

0% 10%

0%