German social trading-focused brokerage, NAGA Group ( Xetra  Xetra Xetra is an international securities trading venue, operated by the Frankfurt Stock Exchange (Frankfurter Wertpapierbörse). An overwhelming majority of turnover on German exchanges goes through Xetra, making it one of the most important venues in the local market.Xetra operates as the reference market for exchange trading in German shares and exchange-traded funds (ETFs). The price fixing on Xetra is conducted via defined and transparent rules. Despite its importance to the German market, Xetra is an international trading venue, with upwards of 50% of trading participants located outside of Germany. Understanding Xetra’s Role in the MarketXetra has seen its technology expand over the past two decades, culminating in improvements in transaction costs, efficiency, and transparency.Its trading technology is continually being developed with the intention of being able to better position Xetra among trading participants, while also licensing it to other exchange operators. In particular, Xetra’s trading technology was designed and implemented on the basis of Eurex trading technology.In light of modern-day challenges, i.e. fat finger errors, flash crashes, mistrades, etc. Xetra has also looked to foster new protectionary mechanisms on its trading venue.This includes volatility interruption, market order interruption, and liquidity interruption measures. Furthermore, trading on Xetra is dictated by clear rules, which apply equally for all trading participants. Independent market surveillance is also comprised of the Trading Surveillance Office (HÜSt), the Exchange Supervisory Authority, which attached to the Hessian Ministry of Economic Affairs, Transportation, and Regional Development, and the Federal Financial Supervisory Authority (BaFin). Xetra is an international securities trading venue, operated by the Frankfurt Stock Exchange (Frankfurter Wertpapierbörse). An overwhelming majority of turnover on German exchanges goes through Xetra, making it one of the most important venues in the local market.Xetra operates as the reference market for exchange trading in German shares and exchange-traded funds (ETFs). The price fixing on Xetra is conducted via defined and transparent rules. Despite its importance to the German market, Xetra is an international trading venue, with upwards of 50% of trading participants located outside of Germany. Understanding Xetra’s Role in the MarketXetra has seen its technology expand over the past two decades, culminating in improvements in transaction costs, efficiency, and transparency.Its trading technology is continually being developed with the intention of being able to better position Xetra among trading participants, while also licensing it to other exchange operators. In particular, Xetra’s trading technology was designed and implemented on the basis of Eurex trading technology.In light of modern-day challenges, i.e. fat finger errors, flash crashes, mistrades, etc. Xetra has also looked to foster new protectionary mechanisms on its trading venue.This includes volatility interruption, market order interruption, and liquidity interruption measures. Furthermore, trading on Xetra is dictated by clear rules, which apply equally for all trading participants. Independent market surveillance is also comprised of the Trading Surveillance Office (HÜSt), the Exchange Supervisory Authority, which attached to the Hessian Ministry of Economic Affairs, Transportation, and Regional Development, and the Federal Financial Supervisory Authority (BaFin). Read this Term: N4G) announced on Monday its financials for the third quarter of 2020, showing record sales and trading volume.

The reported figures show that the broker’s sales figures jumped 506 percent year-on-year to 7.1 million euros last quarter from 1.17 million euros in Q3 2019. This resulted in an EBITDA of 1.9 million euros.

Apart from sales, the trading volume of the broker additionally jumped to over 33 billion euros for the period, a quarter-on-quarter jump of 22 percent. Year-on-year, that is more significant as the volumes in Q3 last year was only 13 million.

NAGA highlighted that the trading volumes were boosted by the 40,000 new accounts opened with it last quarter.

“We are happy with Q3,” Benjamin Bilski, CEO of NAGA, said. “Especially in light of the seasonality and the lower client activity during summer, we once again have shown that our growth strategy pays off and is sustainable.”

“...we have delivered a very solid EBITDA ratio despite increased expenses in growth. Given the growth in our active user base, we managed also to improve our platform experience and internal processes significantly to ensure further  Scalability  Scalability Scalability is a term that describes the constraints of a network via hash rates to meet increased demand. In the context of Bitcoin, scalability reflects the issue in which a limited rate can process transactions adequately.Blocks within the Bitcoin blockchain are limited in both size and frequency. The overall transaction processing capacity of the network is dictated by the average block creation time of 10 minutes as well as a block size limit of 1 megabyte. Consequently, this leads to pain points in transaction processing, relative to other cryptos or traditional payments options. Inherent Scalability Issues with BitcoinBitcoin’s block size limit represents a true bottleneck in its design. This reflects the potential downside of a Proof-of-Work (PoW) system with Bitcoin's consensus protocol.Lags in transaction processing capacity can result in increasing transaction fees and delayed processing of transactions that cannot be fit into a block.This is perhaps one of Bitcoin’s most pressing issues long term, an issue that has since head to the creation of other altcoins or networks to remedy this concern.There have also been many attempts to solve Bitcoin’s scalability problem through software upgrades.Increasing the network's transaction processing limit requires making changes to the technical workings of bitcoin. This is where forks in the network can come into play, be it soft or hard forks.However, forks have resulted in the creation of entirely new cryptocurrency networks such as Bitcoin Cash, among others. Technical optimizations have also been floated to decrease the amount of computing resources required to process and record Bitcoin transactions. Presently there is no consensus on what the best solution to Bitcoin’s scalability is. Scalability is a term that describes the constraints of a network via hash rates to meet increased demand. In the context of Bitcoin, scalability reflects the issue in which a limited rate can process transactions adequately.Blocks within the Bitcoin blockchain are limited in both size and frequency. The overall transaction processing capacity of the network is dictated by the average block creation time of 10 minutes as well as a block size limit of 1 megabyte. Consequently, this leads to pain points in transaction processing, relative to other cryptos or traditional payments options. Inherent Scalability Issues with BitcoinBitcoin’s block size limit represents a true bottleneck in its design. This reflects the potential downside of a Proof-of-Work (PoW) system with Bitcoin's consensus protocol.Lags in transaction processing capacity can result in increasing transaction fees and delayed processing of transactions that cannot be fit into a block.This is perhaps one of Bitcoin’s most pressing issues long term, an issue that has since head to the creation of other altcoins or networks to remedy this concern.There have also been many attempts to solve Bitcoin’s scalability problem through software upgrades.Increasing the network's transaction processing limit requires making changes to the technical workings of bitcoin. This is where forks in the network can come into play, be it soft or hard forks.However, forks have resulted in the creation of entirely new cryptocurrency networks such as Bitcoin Cash, among others. Technical optimizations have also been floated to decrease the amount of computing resources required to process and record Bitcoin transactions. Presently there is no consensus on what the best solution to Bitcoin’s scalability is. Read this Term.”

Entering the Digital Banking Arena

Apart from its existing brokerage business, NAGA is further entering the hyped digital banking industry. The group revealed that it will launch its challenger bank called NAGA PAY, on November 15.

The platform has started pre-registration of customers and already saw ‘thousands’ of potential users, the company detailed.

As Finance Magnates reported, NAGA made a few key appointments recently and is expanding beyond its regular markets. It has already established local entities in Australia and South Africa and is now seeking regulatory approvals in those markets.

"The major rationale after Q1 was to enlarge our customer base, invest in our brand exposure and set up the company for scalability," Bilski added. "NAGA has its best cash-flow situation, highest average monthly volumes and the highest number of active users (as per September 2020) since inception. For the next quarters we need to invest into brand exposure, marketing and grow our team to offer a world-class trading experience by ensuring operational stability."