Is Flow Traders' 24/7 Tokenized Equity Market-Making Deal Reshaping Its Investment Case (ENXTAM:FLOW)?

• In recent days, Dinari announced that Flow Traders will serve as its key market maker for 24/7 trading of tokenized U.S. equities across the Dinari Financial Network and centralized exchanges, aiming to offer deep liquidity, instant settlement, and access to more than 200 tokenized stocks from Q1 2026.
• This move highlights Flow Traders’ push into always-on digital asset infrastructure, positioning the firm at the intersection of traditional equity markets and blockchain-based securities.
• Next, we’ll examine how Flow Traders’ role enabling 24/7 tokenized U.S. equity trading could reshape its investment narrative and risk profile.

Find companies with promising cash flow potential yet trading below their fair value.

Flow Traders Investment Narrative Recap

To own Flow Traders, you need to believe in its ability to convert volatility, electronification and digital assets into sustainable trading income, while managing rising costs and capital needs. The Dinari partnership fits that long term story but is unlikely to alter the more immediate swing factor, which remains how trading income and unrealized gains in digital assets hold up against higher fixed expenses and competitive pressure.

Among recent developments, the October 2025 debt financing stands out, with a US$200,000,000 private credit facility and US$75,000,000 revolving credit facility earmarked mainly for trading capital. That added firepower may help Flow Traders support new activities like 24/7 tokenized U.S. equity making, but it also increases the importance of deploying capital efficiently as operating expenses move higher.

Yet while the Dinari deal expands Flow Traders’ reach, investors should also be aware of the growing fixed cost base and what happens if trading income...

Read the full narrative on Flow Traders (it's free!)

Flow Traders' narrative projects €582.2 million revenue and €182.8 million earnings by 2028. This assumes revenue will decline by 10.1% per year and earnings will increase by about €23.3 million from €159.5 million today.

Uncover how Flow Traders' forecasts yield a €28.55 fair value, a 20% upside to its current price.

Exploring Other Perspectives

Six fair value estimates from the Simply Wall St Community span roughly €23 to €37 per share, underlining how far apart individual views can be. Against this backdrop, concerns over rising fixed operating expenses and the need for ever more trading capital give you a concrete risk lens to judge those valuations and encourage you to weigh several contrasting interpretations of Flow Traders’ prospects.

Explore 6 other fair value estimates on Flow Traders - why the stock might be worth as much as 57% more than the current price!

Build Your Own Flow Traders Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Flow Traders research is our analysis highlighting 5 key rewards that could impact your investment decision.
• Our free Flow Traders research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Flow Traders' overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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