Demand for secure collateralised refinancing in the form of coverd bonds and ABS securitisations continues to be strong. Against this background, TXS has succeeded in acquiring 6 new customers (private banks, savings banks, building societies, cooperative banks) for the TXS Pfandbrief product, 2 new customers for the SAP Funding Management product and 1 new customer for securitization services. In addition, a strategic arranger partner was won for the expansion of TXS securitization services from the current asset classes of leasing and loans to the asset class of trade receivables of corporate customers. In total, TXS will be supporting more than 105 customers with software, services and advice on refinancing by the end of 2017. In the summer of 2017 TXS founded vdpConsulting AG together with the Association of German Pfandbrief Banks and Mr. Crimmann. The aim is to bring together and gradually expand the specialist and strategic consulting business relating to real estate financing & refinancing via Pfandbriefe for the benefit of banks, building societies and other financial service providers for real estate financing. We were able to win Mr. Michael Schnüttgen and Mr. Reiner Lux as members of the Management Board, who together will build up the new specialist consulting company in an entrepreneurial manner.