Just in time for everyone sick of financial markets and pandemic concerns, Swissquote Group is trying to refresh its staff with a Wall Street-themed restaurant and public bar in the heart of Zurich.
What’s the price of a cup of beer at ‘Insider Bar’? Switzerland’s provider of online trading services says, let the market decide.
Here’s how it works: prices for food and beverages will fluctuate like stock prices. A rush on a particular drink or meal would increase its price, and cause other alternatives to drop.
Insider Bar has a ticker tape flashing menu prices in red letters as changes in supply and demand force them to fluctuate, depending on what’s popular at the moment. So if one drink is in heavy demand, its price will rise, causing the cost of other equivalent drinks to drop.
“The Insider Bar is the demonstration that Swissquote is more than a bank. Swissquote is a community of people who value technology (hope you like the cocktail robot), great client service, unique quality products and good value for money. Whether it is lunch, aperitivo or apericena, Insider bar offers everything you desire,” said Jan De Schepper, chief sales and marketing officer at Swissquote.
This bar creates the atmosphere of a trading floor, but if you aren’t interested you could just eat and drink what you want, which is probably what will happen.
Swissquote had a successful year
Jokes aside, Swissquote has been looking to diversify its suite of tradable options by adding new CFDs on top of Asian stock indices to its Advanced Trader and Metatrader platforms.
Additionally, Swissquote’s FX platforms allows users to trade on the movements of all the main European and American stock indices, as well as Japan’s. Most of these CFDs are available both as forward contracts with an expiration date or spot/synthetic instruments (no expiration date, overnight rollover/swap interest applies).
Swissquote reported in August solid results for H1 2020. This was supported by strong trading volumes as momentum created by the coronavirus pandemic resulted in an influx of new clients.
The company managed to increase net revenues by more than 43 percent in the first half of this year as compared to 2019 and pre-tax profits by a whopping 133 percent year-over-year.
As such, the Swiss online broker also drastically revised its outlook of the full year in an upward direction and now expects pre-tax profits of CHF 100 million and revenue of CHF 300 million in 2020.
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