CMTA secures expanded license for securities trading with Akela

CMTA, Graz-based securities service provider, has significantly broadened its license under the Securities Supervision Act (WAG). As a result, this fintech company becomes the first in Austria authorized to place securities and engage in proprietary trading – a domain traditionally reserved for banks.

The extensive license is based on the Securities Firm Act (WPFG), which came into effect in February 2023. It encompasses services such as proprietary trading, portfolio management, order execution on behalf of clients, and the placement of securities. Ancillary services, including securities custody, are also covered.

CMTA initiated the licensing process with the Financial Market Authority (FMA) shortly after the law came into effect. As of early January 2024, CMTA is now authorized to provide these expanded services.

However, CMTA plans to maintain its business focus on institutional bond markets in Austria, Germany, Switzerland, Central and Eastern Europe, and the Baltic states.

CMTA Advisors

Akela (Vienna): Martin Pichler (pictured), Michael Kollik; Associates: Florian Braunauer, Philip Windischer (all Financial Regulatory Law; the latter two are legal trainees)

The key contacts for the law firm are CEOs Christoph Müller and Martin Strohmaier. The latter also serves as Chief Compliance Officer for the company. In Germany, Matthias Maxa is responsible for compliance at the Unterhaching location.