Trading volumes on new pan-European venue Spectrum double in November
Volume traded in November on Spectrum, a new pan-European trading platform for retail investors in structured products, increased by over 100 per cent compared to October, the first full month of trading activity.
In November, over 5.5 million turbo24s were traded, with indices representing approximately 88 per cent, currencies 7 per cent and commodities 5 per cent. All underlyings are proving to be popular, with turbo24 volume on the DAX represents 33 per cent of the total, followed by the S&P 500 with 19 per cent and then the Dow Jones with 10 per cent. The proportion of transactions taking place between the hours of 17:30 and 09:00 has stabilised at around 33 per cent, confirming the practical appeal of Spectrum’s 24/5 trading hours.
Spectrum’s trading platform allows brokers to offer their retail investors trading in turbo24 products on indices, currencies and commodities. With 24/5 market access for customers, Spectrum provides a completely new structured products trading platform and service offering.
Nicky Maan, Spectrum's CEO, says: "Our second full month of trading has seen volumes increasing strongly across the breadth of underlyings – this demonstrates the attractiveness of our modern trading platform with its robust technology, lean product range and retail-focused venue approach.
“We’re deep into discussion with brokers and now with the vast majority of major issuers across Europe, where they are finding great interest in Spectrum. Our sales force is expanding as planned, as we start to build our key partnerships on Spectrum.”
Spectrum’s truly European trading platform is designed to provide simple and efficient access for its participants and their retail clients, with a transparent order book including public pre- and post-trade information. In addition, Spectrum offers its customers cost-efficient, bilateral settlement. For online brokers, the company promises easy market access and attractive pricing.