Okay. Good morning, everybody. Thank you for listening in. About the second quarter, I will start off by commenting on what we call the Facebook incident, where we have ourselves reported us to the authorities for maybe breaking GDPR for IMY authority and then for the Finansinspektionen also in Sweden. The status is that we are in process with a good dialogue with authorities. We do not know when this will be finalized or the consequences, but one thing to bear in mind is that we can see that the data that we, so to speak, leaked to Facebook was deleted, and that is confirmed by Facebook. They could not use the data, which was mostly telephone numbers and email addresses, and we also are very comfortable that no customer had any bad experience or any damage due to the fact that it happened. Also, of course, we have spent a lot of time trying to understand what actually did happen and how could we have a setting with Facebook that was not suitable for a bank. The investigation shows that this was a human error from our side, and of course, we are improving processes, making sure two people do changes and so forth. We are learning a lot from the incident, and of course, we are also looking at all third-party integrations that we have within Avanza. This is a relationship that we have had with Facebook since 2013. It's a long-lasting relationship, but of course, that relationship in this respect is now terminated to make sure that nothing of this kind will happen again. Moving a bit more over to the business side. If you look at the customer growth, I will spend some time looking at that. We gained for the first half year, 240,000 clients almost to Avanza. Just to give you a bit of perspective, if you look 18 months back in history to the 1st of January 2020, we added about 500,000 clients. We have 375,000 more clients generating brokerage income in the stock market and so forth, but we also have 365,000 more clients generating mutual funds income or investing in mutual funds. That has been a very satisfactory growth of the company. A bit of flavor to that is that if you go back 30 months to the 1st of January 2019, 45% of the customer has been added to the platform in the last 30 months. To put it a bit simple, you can say it took us 19 years to build one customer base and 30 months to almost double that customer base, which is of course very good news for the future. In the next slide, we are showing a bit the profile of our customer base compared to so to speak the population of Sweden, because now we have about 12% of all people in Sweden as customers of Avanza, and we have 6.2% market share. One explanation is, of course, that our customers are younger, and the median age of a customer in Avanza is 38, and the median age in Sweden is 48, which implies that our customers are younger, they are doing careers, they're making higher income. They're also the generation understanding the importance of savings, and there's also the generation that will be benefiting from the wealth transformation that will take place in the next couple of years or for a long time in the future. Given that we have a churn of about 1%, it means that if we keep on focusing on keeping our clients satisfied and happy, I think with the customer base that they have, the growth in the customer base are very well positioned for the future and have a great potential. One other note with the customer base that has surpassed 1.5 million now is also that when we look at it in more than 500,000 customers, that means one third of the customer base are actually daily active users. That means that they interact with us seven days a week all year round, that of course creates stickiness. It creates a very close relationship with the customers, in my opinion, to have one third of the customer base as daily active user implies that you're doing something that is appreciated by your clients and that you're part of their life in a very natural way. Going to the net inflow, which is of course something that we like to highlight because now we have for the first time in the quarter over SEK 700 billion or SEK 714 billion in AUM or asset under management, we have net inflows for the first six months of SEK 53.5 billion. To remind us a little bit what that implies is that last year, which was a fantastic year for us at Avanza, I think we had in excess of SEK 76 billion in net inflows for the full year. Comparing that a little bit on a historical level, 2019, I think it was SEK 32.4 billion in net inflows. Of course, the net inflows has been very, very strong during the year. Also looking at market shares that we got during Q2 for Q1, we know that we now have 6.2% market share in the savings market. More important is that during the first quarter, we took 25% of the net inflows in the Swedish savings market. That means that one out of four new kronas in the market came to Avanza. Looking at that figure on a rolling 12 months basis, it's around almost 20%. That means that the last 12 months, one out of five new kronas into the savings market came to our platform. Also in the net inflows, we had a great year, great quarter when it comes to mutual funds, where we have an AUM now of SEK 195 billion, up 71% year-on-year, which is also on a record high- level. Looking at inflows on monthly savings, it's now in the bank SEK 880 million, up from SEK 615 last year, and we have almost SEK 270 million in occupational pension on our B2B business as net inflows. That means that over SEK 1 billion each month is automatically, so to speak, generated net inflow, which is a focus area for us, of course. When it comes to the transfer of pension and the pension business, of course, we see huge interest, huge activity of customers who want to transfer pension to Avanza. You have to take into account that the process between insurance company or life insurance company is quite burdensome still for transferring pensions. I don't expect to see any AUM signs of that, maybe in Q3, Q4, because it still takes 60, 80, 90 days to transfer a pension. A lot of the other companies are actually doing things to hinder people from moving their pensions in my way, not a very customer-friendly way. We see that's a great opportunity, and we see a lot of positive signs. We want to see the figures in the balance sheet, so to speak, before we can conclude how successful we are, even though the signs are positive. The next slide shows a little bit brokerage generating turnover per trading day. It's still on a high- level. If you can see this, we have taken out three years, 2019, 2020, and 2021. Of course, 2021 has been a fantastic year when it comes to turnover. We saw in the second quarter that volatility went down, stock markets moved sideways, activity went down, but still the activity was on a very, very high- level given that the Q2 was not as good as Q1, but still a very, very strong quarter. If you look at Q2 2019, you go back two years, more than 400,000 clients are generating brokerage income. Of course, the resilience of the business that we are conducting in Avanza has improved quite dramatically. The next one is, of course, the market shares in transaction turnovers, and we always look at these pages slightly down for us, but still we are by far the number one player. We see more foreign institutions taking part of the trading, which is not a head-to-head competition with us, but also the fact that our clients are trading more and more, relatively speaking, in foreign markets, and very much so the U.S. market, which is not shown in these figures. It's important for us to keep the size and keep the distance to our competitors, which we are comfortable with. Looking at launches, before we go into that, I think it's important to understand that not all things we do is about new product, new services, new asset classes. It's also a lot about redoing the things that we do, improving information about stock, improving how to put orders, improving how you navigate on the website and the mobile app, and so forth. We have done some things that have been very appreciated by clients. For example, milestones, which we can see social media, it's very popular to spread the word around when you reach certain milestones in your savings. And it also helps customers be motivated to see how far can they go with their savings on Avanza. We also launched savings targets, which is newly launched, and I think it's over 100,000 clients that have used the services for savings target. Then you can visualize your goals. It could be buying a summer cottage, buying a car, whatever it could be. You also can see how you can slowly or maybe hopefully quicker reach targets. That is visualized in a very friendly way, which also motivates people to keep on saving and in my opinion also motivates people maybe to have a larger share of wallet on the platform. We also did for our customers and which is more and more who wants to make sure that their assets are sustainably invested, the Nordic Swan Ecolabel, which is a classic eco label in Sweden, which is also now integrated into the platform. It's all about UX. We made a lot of improvements, and I think we have still everything we do, as I always say, we can do it even better. Finalizing that, of course, employee engagement is at a high- level. I'm impressed with the people working in Avanza. We're still working 75% of the staff from home. Hopefully, that will be more in the office in the fall, but who knows, given all the information we got about Delta and so forth. The employees have done a fantastic job. The focus is, of course, growing the company, customer satisfaction, and keep the strong innovation. We had our Brainy Days in May, and I'm very comfortable that the ideas and the pace of innovation is looking good for the future. We were also voted the fourth most admired company in Sweden in Kantar SIFO survey, and by far we're number one in the financial industry, and we just came out also from YouGov's Recommend BrandIndex, where we are the only financial institution on the top 10. Finalizing that, I think we have the size, we are well- positioned, and we have the customer space, and we have the right staff to looking at the future with a very positive view. Having said that, I would like to turn over to Anna to go through the figures. Thank you, Rikard, and good morning, everyone. Let's start with a short overview. Although the activity in this quarter has been lower compared to Q1, it is still the second strongest quarter and the strongest first half year we have ever seen. Due to lower transaction related income, operating income declined by 21% compared to last quarter. I will come back to that. Underlying costs increased somewhat, up 2% excluding the positive one-off in Q1. Remember the reverse write-down related to the premises at Vasagatan. All in all, operating profit dropped 29% in the quarter, although looking at the cumulative figures for the 1st half year, I am proud to report an increase of 86% compared to the same period last year. The net profit is now over SEK 1 billion, which is only 19% less than the full year profit of 2020. Return on equity was 59% in the first six months to be compared to our long-term target of 25%-30%. As Rikard mentioned, we have initiated a process to review our long-term targets. An important part is of course to get a better understanding of the implication of our strong growth, both in terms of customers and savings capital. It will also be a part of our overall business planning process, which will take place this autumn. The outcome of these discussions will be announced when disclosing the Q4 report in January. Earnings per share for the half-year period were close to SEK 7, 83% higher than the same period last year. Stock market turnover and volatility decreased in the quarter compared to Q1, which was reflected in customer activity. Consequently, transaction-related income was lower but is still strong. Other revenue streams increased. Net brokerage decreased by 24% in the quarter, a result of around 20% lower brokerage generating volume and transactions. Also, brokerage income per SEK of turnover decreased from 12.2 basis points to 11.5 basis points due to larger share trading within the Private Banking and Pro customers segments. Foreign trading activity also decreased from the record level in Q1 and stood for 16% of turnover, which can be compared to 23% of turnover in Q1 and 12% a year ago. Please note that we, as from this quarter, have separated the net currency related income from other income and now report it as a separate income line. Fund commissions increased by 7% compared to Q1 and 83% compared to Q2 last year, mainly due to higher average fund capital. Net inflow amounted to SEK 8.4 billion. Income per SEK of fund capital, however, decreased to 35 basis points as indicated already in the Q1 report. This is due to a larger share of capital invested in index funds. Net interest income increased by 5%, mainly due to higher return on surplus liquidity and higher volumes in margin lending. Other income, which now mainly consists of revenues from Avanza Markets and Corporate Finance, increased with 13% versus Q1. Corporate Finance showed another record quarter. Over to costs. Excluding the reversal of the write-down on SEK 10 million in the first quarter, which affected other expenses positively, the cost increase was 2% in the quarter. This was mainly related to personnel and in line with our recruitment plan and growth strategy to improve our offering. Average number of employees increased by 5% to 545 in the quarter. The cost guidance for 2021 remains at about 15%. This also goes for the long- term guidance of 9%-12%. To sum up, the business development during the quarter resulted in an operating margin of 71% or 76% for the first half-year. This can be compared to 65% in the first half of 2020. The income savings capital was 53 basis points for the first half-year, slightly higher than the same period last year, while the cost to savings capital ratio decreased from 18 basis points to 13 basis point, proving the scalability in Avanza's business model. As from end of June, Avanza's capitalization is governed by the leverage ratio requirement of 3%. Today, we are at 4.7% to be compared to our internal target of 3.8%. We're still waiting on the clarification on the FSA bank specific Pillar 2 guidance, which is expected at around 0.2%- 0.5%. The Pillar 2 guidance will be announced next year. Our capital position is strong, meaning we still have room to distribute another SEK 295 per share of last year's profit and, which already communicated, the board has plans to propose to an extraordinary general meeting later this year when the Swedish FSA's recommendation is received, which is expected to be in September. Okay, to sum it up from a financial perspective, I would like to highlight a few things. We have a very low-risk balance sheet, which we intend to keep Avanza well capitalized with additional distribution capacity and with the policy to distribute 70% of the year's profit. Growth in savings capital and growth in revenues are highly correlated and makes us well-positioned for the future. Here, our strategy is also to grow recurring income, which we have proven in the high growth of fund capital. High cost efficiency makes Avanza resilient in various market conditions. At the same time, it gives us an important competitive advantage. One of management's most focused areas is also the cost-efficient culture, why low cost to savings capital ratio is so important. With that, I would like to hand back to Rikard. Okay. Thank you very much, Anna. With those words, I think we will open up for questions. Thanks. If you do wish to ask a question, please press zero one on your telephone keypad. If you wish to withdraw that question, you may do so using zero two to cancel. There'll be a brief pause while questions are being registered. Our first question comes from Patrik Brattelius from ABG. Please go ahead. Your line is now open. Thank you. A few questions from my side. I would like to start a little bit regarding customer activity. I know we have talked about this before, but could you again help to shed some light and help me understand how the customer activity is a little bit divided among your customer base? For example, you had a very strong activity in Q1 while it fell now in the Q2. How much of that delta is driven by old customers that's been on the platform for many years, and how much of that is perhaps driven by new customers that have joined the recent years? Are you seeing the big changes and swings in the new customers and the old customer activity is more or less the same, or is it equally divided between both new and old customers, please? I think we looked at that and I think we discussed it before. When we look at it from a general point of view, it seems like we can say that the new customers behave like the old customers. We cannot see any differences in that respect. Of course, that it's not like customers are active Q1 and do nothing Q2. A lot of our customers who were active in Q1 were still active in Q2, but on a lower level. The customer base is basically not showing, or the new customers is not showing any other type of behavior than the older clients have done. If you look at, for example, the net inflows in Q2, which was a sideways quarter, it was 51% from old clients and 49% from new clients. I wouldn't say we can see any differences in that. Okay. Thank you. You mentioned one-third is daily active users. How has that developed? How did that look before the pandemic? Do you have that top of mind? I think in Q4 it was like SEK 400,000, so it has increased this year. I don't have the figure before the pandemic. Okay. Thank you. You mentioned and talked a little bit about the occupational pension transfer. Did I understand you correctly that it's perhaps a little bit too early to evaluate if Q2 is performing according to plan when it comes to pension inflow and you want to see some more data? I think because you initiate a lot of transfer of pensions in Q2, but since the other life companies are so extremely slow, we don't get the AUM. It can take 90 days, 100 days, 60 days. That means that the real proof is in the pudding. When the money comes into us, it will be in Q3, Q4. That's why it's a bit early days. What I've said is that we see a lot of interest, a lot of activity, which is very positive signs, but I will not say that we are successful until we see the money into the accounts, so to speak, and that will be Q3, Q4. At which level of inflow would be in line with your own thought regarding pension for Q3 and Q4 in pension? That's a good question. As you know, we never disclose any forecast of what we believe when it comes to results or volumes and that kind of things. We will look at those figures when we see them in hindsight than what has happened. I don't make any projections on that. I see a lot of interest in it. Yeah. Okay. My last question is also something we've touched upon numerous times regarding geographical expansion. You have a very popular customer offering, obviously, given the strong customer inflow we have seen. Are there any other geographies that would be interesting to explore if you look a few years out? I know that we have talked about historically a few years ago that the Netherlands and the Canadian markets had aspects that would be interesting from Avanza point of view. I think that's always a debate that we have. I would say for the next couple of years, we are very focused on staying in Sweden. My personal belief is that we can triple or quadruple the size of Avanza given the Swedish market. We have 6.2% market share. We have a lot of things to do in Sweden. When we reach, just visionary, 20% market share or 15% market share, I think that debate will be more suitable. I would point out that they are, just to give you one, it's not given that it is Nordic c ountries that will be the next country for Avanza, but I think it's a few years down the road before we take that discussion. Okay, thank you. That was all for me. Thank you. Our next question comes from Robin Rane from Kepler Cheuvreux. Please go ahead. Your line is now open. Good morning, and thanks for the presentation, and for taking questions. About, I guess 5% of the Swedish population is using your app every day, which is quite impressive. How does it look if we do the same calculation but on weekly users or monthly users? How does that look? Thanks. I don't have that figures. We were just looking before and took out the daily active users, or 1.5 million clients. Of course, it varies how much people are active and so forth, but we want to be inspired to look after your savings, so I don't have that number. All right. Then on the currency related income, what's the split there between income from securities trading and fund investments, please? Sorry, could you ask the question again? Yeah. On the currency related income, as I understand it's related to both fund. Yeah, the absolute main part is other securities and funds. Funds is a very small part of it. Okay. All right. Thank you. Then I was just curious if you had any reflections on competition. Both SEB and Swedbank have said during the spring that they want to improve their savings offering, and that they are using third party providers for this. Do you have any thoughts on maybe incumbent banks closing the gap in terms of user friendliness and what they can do with their own savings platforms to that of Avanza? No, I welcome competition is good, keeps us on our toes. I'm comfortable that when they move forward, we will move on. I think improving everything that we do is the way to react to that. It's always good with competition. I'm very comfortable that the in-house culture of doing it ourselves and the quickness that we can do things is the competitive advantage that we will work very hardly to keep. All right. Does it change your view on how much Avanza can grow in Sweden and the market share that Avanza would be able to attain if competition from the big banks is increasing? If the competition for the big banks increase, it only implies one thing. We have to be even better, and that is our ambition, and we're going to be better. All right. Well, thank you very much. I'll stop there. Thank you. Our next question comes from Nicolas McBeath from DNB. Please go ahead. Your line is now open. Good morning. First question on customer activity. If you have any thoughts on the activity trends you're seeing into the second half of this year, what in your view are the most material drivers? I know you, Rikard, were cited in an interview in Swedish media earlier this week that you expect the volatility to come down a bit in the second half. Does this mean that you also anticipate a further decline in the activity levels? Please. It's always impossible to say. I don't think we will see anything like the first quarter this year, the rest of the year. I think that if it will be like Q2, who knows? I think that we will see. It's my personal opinion, I'm not very optimistic that asset prices can keep increasing the way they have done for this year. I think the Swedish stock exchange is up over 20%, and I don't think it will be up 40% for the full year. I think we will see lower activity than Q1. Will it be lower than Q2? Who knows? It's very hard to any predictions. My personal opinion also is that I think a lot of people will have their eye on the inflation figures coming out and what that will affect the markets with. Okay. Looking at June activity levels in particular, there was a decline in June, quite marked decline versus the previous month. Do you have any thoughts on what explained t hat? Can you see some trends on a data basis that's giving you some insight to what's driving that decline? If it's the good weather, less restrictions in society, the Euro championships, or do you find it more unexplained, the decline you saw in June? I would say that part of whether part of Euro Championship probably has some marginal effect. I would also say that if you look at June from a market standpoint, it was quite a boring market, low volatility, things moving sideways, people being a little more hesitant, waiting for the Q2 results this week. It's a massive number reports. I think people were positioned, so to speak, for a little bit more wait and see what will Q2 bring to us, and then we will see how the July figures will come out. Okay. If you could please elaborate about which revenue lines or line are you the most excited about growing over the next two years? Noting the very strong growth you had in brokerage, in 2020, 2021. How do you look on the growth outlook for the various revenue lines over the next couple of years? I think that one revenue line that is extremely important for us going forward is the mutual fund. That's why I lifted that we have more than 365,000 new clients the last 18 months investing in mutual funds, and we have a record AUM of SEK 195 billion. I think we have a lot of work to do to grow our mutual fund business, which is in line with creating more reoccurring income. Of course, the stock interest and the number of clients that are interested in equities, which implies also that brokerage will be, of course, important. What we can control ourselves a lot is to inspire clients on long-term savings in mutual funds. That is a big focus area for us. Yeah. I was just wondering if you see any potential to expand the investment opportunities offered to your customers, for instance, adding new equity markets in new geographies or trading in or investing in cryptocurrencies or anything else that you see as a potential? I think that cryptocurrencies, I think we trade 13 certificates with underlying crypto assets, and I think it's been very popular with our clients. Without saying anything, I think the crypto development is something that we follow is of interest. That doesn't imply, say, we're going to do something, but it's something we follow quite closely. Of course, if you look at online trading, we have 11 markets, but we know that we have clients who wants us to expand that. That is something we look at, so to speak, always if we can do it in a cost-efficient way, and also if there's enough clients that are interested in it because we cannot invest money and time in corner cases for a few clients. We have to take into account that do things that will impact most of our clients in a positive way. That's always a debate that we have internally and also with external parties. Okay. I was also thinking about your Bolån+ platform now has beyond SEK 17 billion in business volume. Any comment on the revenue generation from this business volume, please? It's been a bit difficult to track as you know from the outside. Is there anything you could say here that gives an idea of how much revenues this platform is bringing into you currently? No, we have not disclosed that figure, and that's still the same reason because there's a lot of activity in that market. We want to keep our business model with our partners close to us, so to speak. We are not disclosing that. We will disclose it someday in the future. I think that just to comment on the Bolån+ offering that is over SEK 17 billion at the moment is that we have been in that market for three years. We added Landshypotek to our second partner, which has been a great success for us. I also think it's important to understand that Landshypotek don't do apartments. Stabelo is not in the new market, so to speak. When you buy a house, it's just refinancing. It's 60% LTV, which is, of course, something that's not as good as it could be if it was 85, which is our ambitions to land it because we have a lot of young clients that need to borrow more than 60%. Given the limitations that we still have in the offering that we will work to close the gap, so to speak, I still think it's quite good number to, with that limitations, create for three-year period, SEK 17 billion in mortgages. We're looking at that, and as I said before, we would like to add on more partners on our platform because we have an ambition to be a mortgage platform for more than just two partners going forward. That's something we're looking for in the future. Yeah. I appreciate that it's been a good development as a new campaign in this market for you, and you've been able to grow the business volume quite rapidly over this year. Do you have any idea of when we can actually start noticing this business in your P&L as well so we can kind of get an idea of what this means for you in terms of business case? I will not give you any promises, Nicolas, but it will not be 2021. Okay. One final question on cost, please. How do you think about your cost plan now for 2021, given the continuing high growth in customers and also potentially, I don't know how you think about this, but the personal data incident on Facebook, if this is having any implication for your costs? Also noticing that the average number of FTEs was up, I think you mentioned Anna 4% or 5%, but looking at the kind of Q-on-Q development for how many employees and at the end of the quarter it was up 7% and it's up 19% year-on-year. Is this increase in line with your plan for 2021 or has there been any unforeseen needs to add more employees that you intend to offset later this year? I would say it like this, I think that we have made some extra increases when it comes to back office customer services, because I have to be honest and say that we didn't anticipate the number of clients to grow as fast as it has done this year, which is all positive news. We have different costs within the company. We are comfortable to getting around 15% as we have communicated. If something happens in the market and the growth would be phenomenal in the next couple of months, then, of course, if that will make us, so to speak, not taking care of our clients and we need to add more people, then of course we will do that and communicate that. Knowing what I know today, we are just executing on a recruitment plan and we intend to do so. That could be offsetted by enormous growth in number of clients and AUM, but that in my opinion would be a positive problem. The 15% or around 15% cost growth for the full year of 2021 with what I know today stands. The personal data incident doesn't have any implications for your cost? It doesn't require you to invest more resources or anything like that? No. Okay. No, that's the good thing. We're having a lot of internal competencies and internal people, and of course we have done investigations and so forth, but it will not implied anything on the cost basis. Okay, perfect. Thanks a lot for answering the questions. Okay. Thank you, Nicolas. Thank you. As another reminder, if you wish to ask a question, please press zero one on your telephone keypad. Our next question comes from Maths Liljedahl from SEB. Go ahead, your line is now open. Yes, good morning. Thank you. A few follow-ups maybe from my side. Rikard, you said that new clients are a lot behaving like the older client base as well. Do you have any data or indications how has the historical client base behaved? Let's say we get the stock market, it's up 25% now, let's say it comes down 15% and we get a sharp drop. How has activity been in that kind of period? Initially, I would expect high, but has there been people got scared or investors got scared, or do you have any sort of trend on that or indications? Sadly enough, my answer would be that if you get a sudden drop of 15% in the stock market, and after that you get a period of sideways moves, it's always high activity in the drop, so to speak, and then it's people sitting on their hands with cash waiting for new opportunities to invest. I think that our communication is always diversify long- term and don't sit still in the boat a little bit. Usually we saw that especially in March last year when the market dropped, that there was a lot of sell-offs among especially equity clients. Yeah. Okay. Perhaps a follow-up on costs and on Nicolas there. You have had quite a high or higher cost than we anticipated perhaps in the first half. Does this mean that you need to hold back on some investment that were initially planned for the second half year in order to meet the 15% guidance? No. No? I think that we will do what we want to do. As I said to Nicolas, what could offset that is if we get above expectation growth during the fall, That would be in my opinion positively because we have, according to the plans we had for 2021, we have increased number of back office people, customer service people, developers and so forth, We have a people plan that's very detailed so to speak, We are following that and we are comfortable with the cost guidance given the information that we have today. Okay. Thank you. That's all from me. Yeah. Thank you. That's all from me. Okay, thank you, Maths. Thank you. Our next question comes from Jens Hallén from Carnegie. Please go ahead. Perfect. Thank you. I have two questions. First is just looking at the savings capital for customers. You always used to run with about 400,000, now it's up to 470,000. My question is, have we now reached a point when sort of adding new customers and not diluting the value increases that we see in the market? What do you think that number's going to be? Has there been a trend shift? Yeah, I got that question. I think the trend that we have improved it from SEK 400,000- SEK 470,000 is it has to do with asset prices and that the stock market and the value of people portfolios have increased quite a lot this year with the stock exchange up over 20% in Sweden. I would say, on the other hand, we're still adding a lot of young clients into the bank with far less than SEK 470,000. I would say that affects it. Of course, long term, what would be beneficial is, of course, the transfer of pensions. It's difficult to say. We track the number, but at the same time, if you're getting a lot of 20-year-olds with SEK 5,000 in their accounts who gets going, that has a negative effect on the average. At the same time, when we look at it, we can see the pension transfers and of course, a lot of the increase has done with asset prices. Okay. That makes sense. Second question is after looking at FX. Of course, Q1 was exceptional. If we're looking at the volumes now in Q2, they were down of course, Q-on-Q, but they're still very strong compared to 2020. My question here is to do with what you think about the run rate. Are the current volumes something you think is sustainable given the new set of customers that you have? No, I would say what I think is sustainable is that more and more clients see it very natural to trade in more markets than Sweden. We can see that going back to 2017, then I think it was like 4% or 5% was foreign trading, and then it was a record number in Q1, still quite high in Q2. What I believe is that going forward, even in a boring environment, we will see, relatively speaking, more customer comfortable trading abroad. If that number is going to be 15, 17, 25 or 10, impossible to say, but it will be relatively speaking on higher level. Okay. Thank you very much for that. That is all from me. Thank you. Next question comes from Roberto Kausani from Athos Capital. Yes. Hi, good morning, everyone. Thank you for taking my question. Most of my questions have been answered already. I have one, actually two, one very little detail on the Forex as well. Again, I'm just trying to understand a bit what happened in Q2, in a sense that apart from the natural drop in SEK million, I also noticed that in reality, if you look at volumes they're only down 30% and you release volumes on Forex related trading on a monthly basis. Why commissions have dropped almost 50% while volumes were down 30%? I'm also very interested in understanding if there is any particular stock or market where those trades refer to. I'm talking about the Tesla of this world. Is there any single stock or cryptocurrency that is actually impacting materially into these numbers? Thank you. Let's see. I would say if you start with the question about what kind of stocks it is, I would say it's always popular stock. If you look at the Q2, it was a bit Tesla, NIO, Coinbase the tech stocks in the U.S. is also very, very popular. It's nothing out of the ordinary. Of course, in Q1 we saw a lot of trading in GameStop and so forth, but nothing that had any great impact, even though it had some impact to the figures. The reason why we dropped I'm looking at Sofia a little bit to get the right answer to your first part of your question. The reason why we dropped in volume compared to, I didn't really catch what you were referring to. Sorry. If I look at your monthly reporting, I can see that you mentioned foreign trades in SEK millions on a monthly basis dropping at around SEK 0.9 million per day, yeah? SEK 0.8 million, SEK 1 million per day in June versus an average of SEK 1.3 million in the first quarter. So I would say the volumes have dropped between 30%-32%, whilst commission from trading activity in Forex trade has gone down more than that. It's gone down almost 50%. I was wondering what was the reason behind it, and if it was anything to do with cryptocurrencies, if cryptocurrencies are also included. Cryptocurrencies doesn't affect the foreign trading at all because they are traded in certificates denominated in Swedish SEK. Okay. That doesn't affect it at all. Doesn't affect. Okay, that's good. Yeah. I would say it's rather the size of the trades than just one that affects the income. Okay, I understand. The average size per trade was higher, so lower fees? Yeah, if you buy a stock for where you are exactly where you get the best price dependent on the size of the trade and according to what was done the month or the month before. That's what could affect it. I don't have a more precise answer. No, okay. That's fine. Well, thank you. Thank you very much. That's fine for me. Thank you. Thank you. There appear to be no further questions. I'll return the conference to the speakers for any closing remarks. Okay, thank you all for listening in. I hope you all are vaccinated now so that you can travel and have a great summer. Take care of yourselves. Thank you very much. Bye.