The story of AFS Group is a narrative of endurance, adaptation, and strategic expansion. It is a journey that began in the mid-19th century and evolved through the tectonic shifts of the global financial markets to become the diversified, technology-driven powerhouse it is today.
The seeds of AFS were sown in 1851 when three entrepreneurs established Troost, Herckenrath & Ten Kate. For nearly 140 years, this firm served as a cornerstone of the Dutch financial landscape, specializing in guilder loans within the Money and Capital markets.
As the 20th century drew to a close, the financial world began to modernize rapidly. In 1984, Schamhart Independent Floor Broker Services opened its doors at the European Option Exchange (EOE) in Amsterdam, providing vital access for non-members. By 1990, the historical Troost firm was acquired by Amsterdam Option Traders (AOT), a public firm that transformed the old guilder loan business into a dominant Money Market department. In 1994, Schamhart birthed a separate entity named AFS, standing as an independent interdealer broker for equities and bonds.
The dawn of the new millennium marked the official birth of the AFS Group. In 2000, four distinct entities AFS B.V., Schamhart, AOT’s Money Market department, and Maas & Daemen—merged. This consolidation created a multi-asset specialist. The legacy firms were rebranded: the money market arm became AFS Interest, while the execution arm became AFS Execution Services.
Seeking a foothold in the world's financial capital, AFS opened its London office in 2001. The firm’s identity as a truly independent player was solidified in 2011 when the current management team completed a buyout, ensuring that AFS remained an agile, partner-led organization.
The following decade was defined by aggressive yet calculated growth. In 2012, AFS acquired IWB, a major Swiss equity derivatives broker, strengthening its footprint in the Benelux and Zurich.
Recognizing the global shift toward sustainability, AFS made a pivotal move in 2013 by acquiring Neutralco to form AFS Energy. Within a decade, this division became a market leader in renewable energy and carbon markets. Simultaneously, the firm bolstered its Fixed Income capabilities in 2015 and 2016, turning it into a core pillar of AFS Interest. By 2019, AFS embraced the digital shift necessitated by MIFID II regulations, launching AFS Blue, a regulated platform (OTF/MTF) designed to bring transparency to debt instrument trading for high-rated issuers.
In recent years, AFS has pivoted toward becoming a comprehensive fintech and service provider. In 2022, the group acquired Knox, integrating custody services into its repertoire after gaining regulatory approval from the AFM.
In 2024, AFS launched two groundbreaking platforms. The AFS Client Portal revolutionized the carbon markets by providing retailers with professional-grade tools, including live pricing and automated order management. Meanwhile, the Vennex platform was released to facilitate the internal tradability of shares for non-listed companies and crowdfunding platforms, utilizing a proprietary MTF license to modernize employee share programs and private equity liquidity.
Today, AFS Group stands as a testament to the idea that a firm can honour its 1851 origins while leading the charge into the digital, sustainable future of global finance.
The narrative reached a new milestone in 2025 with the introduction of Viridian Exchange. Building on 175 years of market expertise, Viridian was designed to remove the final barriers to environmental commodity trading. As a digital multilateral trading venue, it provides direct market access to European Emissions Allowances (EUAs) and Guarantees of Origin (GOs). By offering institutional-grade security, instant settlement, and a "no trade, no cost" model, Viridian represents the culmination of AFS Group’s journey: a perfect blend of historical reliability and future-facing innovation.
