Fromissuance through register connectivity and distribution to the secondarymarket:
tokenised securities from a single source — regulated and operationalsince 2020.
The Infrastructure of the Digital Capital Market
ISIN DE000A40ET88WKN A40ET8TICKERETR: FXT
Why now
The global capital market stands at ahistoric turning point.
Driver 01 · New regulatory framework
Europe's capital market is fragmented: more than 300 trading venues are active across the EEA. ESMA is harmonising the framework, and the DLT regime is opening trading and settlement onto a singlerail.
Driver 02 · New technologies
Tokenisation makes registers, subscription and settlement programmable — and reusable across jurisdictions.
Driver 03 · New competitors
The first licensed DLT infrastructures are live worldwide — including established exchanges and custodians.
Driver 04 · Changing customer behaviour
Investors now expect digital access, small denominations and round-the-clock tradability — across borders.
What stays the same
Securities remain securities — the same legalnature, the same prospectus, the same supervision.
What is changing
The infrastructure for issuance, trading and settlement: securitisation no longer takes place on paper through a custodychain, but in an electronic register.
Market Opportunity
The trading floor was replaced. Electronic trading will be too.
Formore than 150 years the trading floor was the standard — today it is a marginal phenomenon. Electronic trading, which began as a complement in 1977, went on to become the global standard; settlement remained separate (T+2, moving to T+1 in Europe from 10/2027). A third generation is now emerging: trading takes placeon a register that also carries holdings and settlement — the same layer canserve multiple trading venues. The value lies in the settlement layer: built once, usable many times over.
Forecasts for Tokenised Assets
€ tn or US$ tn, per source)
1,85
4,6
17,5
27,8
MCKINSEY BY 2030
CITI BY 2030
BCG/RIPPLE BY 2033 · +53 % P. A.
STANDARD CHARTERED BY 2034
Chart caption: Coexistence: “evolution, not revolution”(Citi) — electronic and DLT trading run in parallel.
Sources: CorporatePresentation 08/2026, p. 3 · conventional markets: SIFMA.
Sources: CorporatePresentation 08/2026, p. 3 · conventional markets: SIFMA.
FOR CONTEXT
Conventional securities — global equity and bond markets — today stand at more than US$250 tn. Even under the BCG/Ripple scenario, tokenisation would represent only around 7% of that by 2033. The migration has only just begun — and that isprecisely where the opportunity lies.
FINEXITY today
Operational, not a pilot:
the infrastructure for tokenised securities.
the infrastructure for tokenised securities.
Issuance, subscription and distribution already run on the same technology today: more than 300 tokenised bonds from over 50 issuers have been processed via the Group's infrastructure (as at 07/2026) — distributed via connected savingsbanks (Sparkassen), cooperative banks (Volksbanken), securities institutions and tied agents. In addition, buying and selling are already possible today: sell offers have been displayed and bilaterally accepted on the DLT-OTC — a bulletin board — since 2021; no multilateral matching takes place.
»The only European provider that covers the entire chain from structuring and issuance through trading and settlement topost-issuance servicing on a single platform.«
From the analyst report by nuways AG · 05/2026
assessment by the research house
assessment by the research house
OUR BUSINESS UNITS
One group. Four brands.
One capital market - end-to-end
One capital market - end-to-end
ACCESS · HOW TO ENTER THE NEWWORLD
Four customer groups, three steps — nobody builds anything new.
Issuers
One connection, many distribution channels: credit institutions, securities institutions and agents. Even smaller issuances become economically viable.
Credit and Securities Institutions
An existing licence is sufficient: a new product offering and commissions without building any technology in-house.
Tied Agents
Ready to launch immediately under the Effecta liability umbrella¹ — without their own supervisory procedure.
Investors
No crypto knowledge required — it remains securities law: smaller denominations; buying and selling possible via the bulletin board — offers are displayed and bilaterally accepted, subject tosupply and demand.
Low threshold
Existing licence, existing customer relationship, existing securities law — only the infrastructure behind it is new. FINEXITY is the partner for the transformationinto the new world.
STRATEGIC DEVELOPMENT
Each phase carries the next.
2018 – 2021
FINEXITY 1.0 · Proof of Concept
First proprietary bond in 2020; DLT-OTC (bulletin board) live since 2021.
2022 – 2026
FINEXITY 2.0 · Open Ecosystem
300+ tokenised bonds; savings banks, cooperative banks and tied agents connected; third-party issuers supported.
07/2026 – 12/2027
Transition Period
Expand the ecosystem, deepen connections and prepare the next stage of growth.
ZIELBILD
FINEXITY 3.0 · Regulated Infrastructure
Expansion to include regulated trading and settlement services — subject to the respective required regulatory approvals.
The difference
The licence is the last building block, not the first — competitors build the infrastructure first and look for order flow afterwards. FINEXITY already has products, distribution and investors.
Target picture per Corporate Presentation 08/2026 —non-binding internal planning, not a forecast and not a guarantee.
FACTS & FIGURES
As of July 31, 2026
FINEXITY Group at a Glance
2018
Founding of the FINEXITY Group
30M EUR+
Growth capital raised since founding¹
300+
Tokenised bonds issued via the Group'sinfrastructure
50+
Issuers
01/2020
Placement of the first tokenised bond
07/2021
Launch of the DLT-OTC (bulletin board)
7.85m
Revenue, pro forma consolidated, FY2025²
09/2025
Stock exchange listing (Xetra · FXT)
¹ Total equity and debt.
² Pro forma, unaudited, for illustrative purposes only; Effecta acquisition subject to the ownership control procedure.
² Pro forma, unaudited, for illustrative purposes only; Effecta acquisition subject to the ownership control procedure.
