Cortal, the leading on-line brokerage in France, and AXA Seguros e Inversiones, fourth-largest insurance company in Spain, signed a partnership agreement today that makes available to the 2 million customers of Axa Seguros e Inversiones Cortal's stock brokerage services on 9 North American and European stock markets. This partnership will be operational at the end of January 2001.
Thanks to this agreement, private Spanish clients will be able to access directly, through the AXA Seguros e Inversiones homepage, www.axa-seguros.es, the Cortal transactional site, www.e-cortal.com, which will enable them to place market orders on the stock exchanges in Madrid, Milan, Paris, Frankfurt, London, Zurich and Amsterdam and on two of the main North American markets.
This partnership comes within the scope of the development of the Strategic Plan 2000-2003 of AXA Seguros e Inversiones, which thus continues its repositioning as a reference supplier in the area of financial protection.
This agreement also strengthens Cortal's strategic plan for development in Europe. The leading on-line broker in France, number four in Belgium and present in Luxembourg since 1993, Cortal is extending its offer of financial products and services to a broad public.
Parallel to the opening of a Cortal branch in Madrid, scheduled for the end of 2000, the agreement set up with Axa Seguros e Inversiones will make it possible for private Spanish investors to benefit from Cortal's expertise in on-line brokerage.
The mission of Cortal is to help European individuals build and manage their savings. Customers are given access to services covering all mutual funds and principle stock markets. A subsidiary of BNP PARIBAS, the leading banking group listed in France and the second-largest bank in the euro zone by its results, Cortal had 579,000 clients at the end of october 2000, including 142,000 on-line accounts.