Lang & Schwarz AG, founded in 1996 and headquartered in Düsseldorf, Germany, serves as the holding company for a group of financial sector firms that develops and issues structured products including warrants, certificates, turbos, end-lost turbos, intra-day issues, leverage products on indices, equities, commodities, interest rates, currencies and wikifolio certificates; its key subsidiary Lang & Schwarz TradeCenter AG & Co. KG operates Germany's leading over-the-counter trading platform serving clients of approximately 20 partner banks with access to domestic and foreign stocks, funds, bonds, ETPs such as ETFs, ETCs and ETNs, alongside its own products, while acting as market maker and liquidity provider on the LS Exchange electronic trading system; additional subsidiaries include Lang & Schwarz Gate GmbH providing IT hardware, software and trading venue connection services and P3 finance GmbH, a joint venture with P3 group GmbH, developing digital financial solutions and operating the onelink trading system at Lang & Schwarz Exchange. The group targets private investors through partner banks reaching millions of customers and focuses on extended trading hours including weekends across German and international exchanges like XETRA, Vienna, Stuttgart and BX Swiss. Recent developments include the successful launch of the onelink trading system at Lang & Schwarz Exchange in October 2024, management board changes announced in June 2025, record revenues and outstanding results reported for Q3 2025 in November alongside raised full-year guidance in October 2025 and strong half-year performance in August 2025.