The European
neo-broker BUX, recently acquired by ABN AMRO, announced a strategic
partnership with State Street Global Advisors (SSGA) today (Wednesday) to
expand its investment offerings through SPDR ETFs for retail investors across
Europe.
Neo-Broker BUX Teams Up
with State Street to Expand ETF Offerings
The
collaboration with SSGA, which manages $4.7 trillion in assets, marks a
significant step in BUX’s mission to democratize investing for European retail
clients. The partnership will enable BUX users to access SSGA’s SPDR ETF
products with investments starting from €10, while also providing educational
resources to help investors make informed decisions.
What are
SPDRs? SPDR (pronounced “spider”) stands for Standard & Poor’s
Depositary Receipts, and represents one of the most significant innovations in
investment history. Created in 1993, the first SPDR ETF – SPDR S&P 500
(SPY) – became the world’s first exchange-traded fund and remains one of the
most actively traded securities on global markets.
“We’re
proud to team up with State Street Global Advisors to significantly improve our
offering in the European investment landscape,” said Yorick Naeff, CEO of BUX. “With SSGA’s
decades long experience, track record, and global market share, we believe this
partnership is the latest milestone for us in our pathway towards becoming a
leader in the European retail investment space.”
The
partnership comes at a strategic time for BUX, following its recent acquisition
by ABN AMRO, one of the Netherlands’ largest financial institutions. The move
strengthens BUX’s position in eight European markets, including the
Netherlands, Belgium, France, and Germany.
“Investors
are increasingly turning to ETFs for their flexibility and cost-efficiency, and
our wide range of ETFs, from global equity to fixed income, enables investors
to tailor their portfolios with greater precision,” Matteo Andreetto, Head of
Intermediary Clients Coverage, Europe at State Street Global Advisors,
emphasized the growing importance of ETFs in retail investing. “
Changes at BUX in 2024 and
Beyond
In 2023, the neo-broker announced
plans to sell parts of its business. Several months later, Dutch bank ABN AMRO
confirmed an agreement to acquire BUX as part of its strategy to strengthen its
retail investment offerings and enhance its digital services.
The acquisition process was
completed in July 2024, seven months after it began. Despite the ownership
change, BUX continues to operate independently, although its branding now
includes the ABN AMRO logo to signify the partnership.
In the lead-up to the
acquisition, BUX ceased operations of its contracts-for-differences (CFDs)
platform, Stryk, stating a strategic shift toward focusing on mid- and
long-term investing through its BUX app. Customers of the Stryk platform were
offered the option to transfer their accounts to AvaTrade, another CFDs
provider.
Later in 2024, BUX Financial
Services, the UK subsidiary of the company, was sold to Asseta Holding, the
parent company of UAE-based investment firm APM Capital. Following the sale,
the UK business was rebranded and began operating under the name APM Markets.
In early 2025, Joshua Owen was appointed Chief Executive Officer of APM
Markets, marking a leadership transition after the rebranding.
Additionally, in January 2025,
Coinbase, a publicly listed cryptocurrency exchange, acquired the Cyprus-based
unit of BUX. The entity was renamed Coinbase Financial Services Europe,
reflecting its integration into Coinbase’s global operations.
“We are pleased with the sale of our MiFID licensed entity, BUX Europe Limited (BEU) to Coinbase, a globally recognised leader in the crypto industry,” Naeff confirmed the deal.
The European
neo-broker BUX, recently acquired by ABN AMRO, announced a strategic
partnership with State Street Global Advisors (SSGA) today (Wednesday) to
expand its investment offerings through SPDR ETFs for retail investors across
Europe.
Neo-Broker BUX Teams Up
with State Street to Expand ETF Offerings
The
collaboration with SSGA, which manages $4.7 trillion in assets, marks a
significant step in BUX’s mission to democratize investing for European retail
clients. The partnership will enable BUX users to access SSGA’s SPDR ETF
products with investments starting from €10, while also providing educational
resources to help investors make informed decisions.
What are
SPDRs? SPDR (pronounced “spider”) stands for Standard & Poor’s
Depositary Receipts, and represents one of the most significant innovations in
investment history. Created in 1993, the first SPDR ETF – SPDR S&P 500
(SPY) – became the world’s first exchange-traded fund and remains one of the
most actively traded securities on global markets.
“We’re
proud to team up with State Street Global Advisors to significantly improve our
offering in the European investment landscape,” said Yorick Naeff, CEO of BUX. “With SSGA’s
decades long experience, track record, and global market share, we believe this
partnership is the latest milestone for us in our pathway towards becoming a
leader in the European retail investment space.”
The
partnership comes at a strategic time for BUX, following its recent acquisition
by ABN AMRO, one of the Netherlands’ largest financial institutions. The move
strengthens BUX’s position in eight European markets, including the
Netherlands, Belgium, France, and Germany.
“Investors
are increasingly turning to ETFs for their flexibility and cost-efficiency, and
our wide range of ETFs, from global equity to fixed income, enables investors
to tailor their portfolios with greater precision,” Matteo Andreetto, Head of
Intermediary Clients Coverage, Europe at State Street Global Advisors,
emphasized the growing importance of ETFs in retail investing. “
Changes at BUX in 2024 and
Beyond
In 2023, the neo-broker announced
plans to sell parts of its business. Several months later, Dutch bank ABN AMRO
confirmed an agreement to acquire BUX as part of its strategy to strengthen its
retail investment offerings and enhance its digital services.
The acquisition process was
completed in July 2024, seven months after it began. Despite the ownership
change, BUX continues to operate independently, although its branding now
includes the ABN AMRO logo to signify the partnership.
In the lead-up to the
acquisition, BUX ceased operations of its contracts-for-differences (CFDs)
platform, Stryk, stating a strategic shift toward focusing on mid- and
long-term investing through its BUX app. Customers of the Stryk platform were
offered the option to transfer their accounts to AvaTrade, another CFDs
provider.
Later in 2024, BUX Financial
Services, the UK subsidiary of the company, was sold to Asseta Holding, the
parent company of UAE-based investment firm APM Capital. Following the sale,
the UK business was rebranded and began operating under the name APM Markets.
In early 2025, Joshua Owen was appointed Chief Executive Officer of APM
Markets, marking a leadership transition after the rebranding.
Additionally, in January 2025,
Coinbase, a publicly listed cryptocurrency exchange, acquired the Cyprus-based
unit of BUX. The entity was renamed Coinbase Financial Services Europe,
reflecting its integration into Coinbase’s global operations.
“We are pleased with the sale of our MiFID licensed entity, BUX Europe Limited (BEU) to Coinbase, a globally recognised leader in the crypto industry,” Naeff confirmed the deal.
This post is originally published on FINANCEMAGNATES.
