Postbank EasyTrade.AG and Credit Suisse First Boston (Europe) Limited (CSFB) have signed a cooperation agreement. This joint venture will allow customers of the new direct brokerage preferential access to new issues under the auspices of CSFB. With this cooperation agreement, CSFB has acquired an additional sales channel for private German customers.

Initially, the cooperation is restricted to the floatation of German or foreign public limited companies on the German stock exchange, under the sole or joint sole lead of CSFB. The two institutions, CSFB and Postbank easytrade, will cooperate both in acquiring new customers and their marketing and distribution. To this end, Postbank easytrade will be involved in generating the greatest degree of interest in new issues among its private customers and subscribe orders through CSFB. In turn, CSFB – as the lead for these transactions – will endeavour to ensure that easytrade is admitted as a member of the issuing syndicate.

"By cooperating with one of the largest players in the international capital markets, we are able to offer our customers an important benefit: they are able to get a 'head start' when it comes to interesting new issues", states Professor Dr. Wulf von Schimmelmann, Chairman of the Deutsche Postbank AG Board of Directors.

For Stephan Sturm, Managing Director and Co-Head European Equities at CSFB, "this joint venture perfectly supplements a to date already strong position with institutional partners. With access to Postbank's ten million retail customers, we will be able to offer our clients broad placement for new issues."