Flow Traders N.V. (Euronext Amsterdam: FLOW) is a principal trading firm and electronic liquidity provider headquartered in Amsterdam. It makes markets in exchange traded products, continuously quoting two sided bid and ask prices across more than 13,000 ETP listings, including ETFs and ETNs, on exchanges in North America, Europe and Asia Pacific. Beyond ETPs, the firm also trades other instruments on a principal, market making basis, including fixed income, currencies, commodities and digital assets. It operates from Amsterdam and nine other trading hubs: London, Paris, Milan, Cluj, New York, Chicago, Hong Kong, Singapore and Shanghai. Where diversified proprietary trading firms run market making across many asset classes from the outset, Flow Traders built its franchise narrowly around exchange traded products and expanded outward from that base; it describes itself as one of the world's largest dedicated ETP market makers and was, as of 2020, Europe's largest ETF market maker. Its counterparties are institutional: asset managers, banks, brokers and exchanges that need continuous, tight spread liquidity in listed products, not retail order flow. From the late 2010s the firm extended its continuous two sided quoting model into cryptocurrency ETPs and, more recently, into broader digital asset and tokenized market liquidity, applying the same market making approach outside the traditional listed ETP wrapper. In China it holds a QFII (Qualified Foreign Institutional Investor) license, obtained in 2022, allowing it to trade onshore Chinese securities directly. Flow Traders was founded in Amsterdam in 2004 by Jan van Kuijk and Roger Hodenius, both former traders at fellow Amsterdam market maker Optiver. Summit Partners made a strategic investment in 2008 that funded the firm's international expansion. Flow Traders listed on Euronext Amsterdam on 10 July 2015 at an IPO price of 32 euros per share, valuing the company at roughly 1.5 billion euros with 40% of shares floated. For full year 2025 it reported net trading income of 485.8 million euros, total income of 480.5 million euros, net profit of 133.6 million euros and ETP value traded of 1,940 billion euros, up 26% year on year. Thomas Spitz became CEO on 1 September 2025, elected by shareholders through the 2029 annual general meeting, succeeding Mike Kuehnel; Rudolf Ferscha chairs the board. In April 2024 FINRA fined the firm's U.S. entity $50,000 over financial risk management control deficiencies dating to 2019 through 2023, and separately fined its U.S. institutional trading unit $75,000 over trade reporting deficiencies. At its Capital Markets Day in June 2026, Flow Traders set out a "Horizon 2030" strategy aimed at becoming a round the clock liquidity provider across both traditional and digital assets, stating trading capital had grown 75% to 1,092 million euros since the second quarter of 2024. In March 2026 the firm launched an over the counter offering providing continuous liquidity for tokenized assets, extending its market making model into the tokenized real world asset market.
