- Trading volumes grew 5% on previous year with 421m securitised derivatives traded in Q3 2023 vs. 401m in Q3 2022
- Quarterly order book turnover grew by 10% on previous year, reaching €921 million, the second-best on record
- Online trading pioneer Directa joins Spectrum Markets as newest member
Spectrum Markets ("Spectrum"), the pan-European trading venue for securitised derivatives, has released its third Quarterly Business Update of the year, revealing a stable positive trajectory despite the challenges posed by declining equity markets and the broader inflationary landscape.
Third-quarter order book turnover grew by 10% year-on-year, reaching €921 million, making it the second-best quarter so far. During the same period, trading volume increased by 5% with a total of 421 million securitised derivatives traded on the venue from July to September 2023, compared to 401 million during the same period the previous year.
This underlines the firm’s continued growth trajectory, as it has expanded its product offering and welcomed more European retail investors trading on Spectrum, including those coming via new members and other partnerships commenced during the course of the year.
Since its last business update in July 2023, Spectrum has announced two important initiatives, including a partnership with the independent Italian retail broker Directa, which became its newest member, allowing more retail investors the ability to trade securitised derivatives on Spectrum, 24 hours a day, five days a week.
In addition, Societe Generale, already a member of Spectrum since 2022, expanded the geographic availability of some of the daily constant leverage and vanilla warrant products it has listed on the trading venue to include Italy.
These announcements reflect the success of Spectrum’s ongoing growth strategy and represent a new source of trading volume to the venue, which will continue to be consolidated in deeper pan-European liquidity pools, thanks to Spectrum’s innovative, single pan-European product ISIN.
“We are very happy to be announcing another positive quarter of year-on-year growth, emphasising Spectrum’s progress on volume and turnover,” explains Nicky Maan, Spectrum Markets CEO. “I’m particularly pleased with the initiatives we announced last quarter and look forward to announcing further developments, strengthening our growth ambitions for the venue as we look towards the year end and beyond.”
“Despite the wider market uncertainty we’ve seen during the last few months, we remain committed to continuously delivering the best possible trading experience for our members and their retail investor clients, exploring new partnerships, expanding our offering and developing our ‘plug and play’ trading infrastructure around Europe,” he adds.
During Q3 2023, 32.3% of individual trades took place outside of traditional hours (i.e. between 17:30 and 9:00 CET). 87.6% of the traded derivatives were on indices, 8.5% on currency pairs, 2.7% on commodities, 1.1% on equities, and 0.1% on cryptocurrencies with the most traded underlyings being DAX 40 (34.1%), NASDAQ 100 (20.8%) and S&P 500 (16.4%).
About Spectrum Markets
Spectrum Markets is the trading name of Spectrum MTF Operator GmbH. Headquartered in Frankfurt am Main, Germany, it is a pan-European trading venue for securitised derivatives aimed at financial institutions and their retail investors. Since launch, trading has been available in: Germany, France, Italy, Spain, Sweden, Norway, the Netherlands, Ireland, and Finland.
Acting as a MiFID II regulated trading venue authorised and supervised by BaFin, the exchange uses a uniquely open architecture system to allow investors to trade with increased choice, control and stability. Through its pan-European ISIN, 24/5 trading services and its own proprietary venue, Spectrum enables a guaranteed baseline level of liquidity over a range of products and is able to swiftly and safely match a significant number of orders and process multiple quotes every second.
Further information can be found at spectrum-markets.com
Media contact
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Disclaimer
All information contained herein is for information purpose only and addresses exclusively Members of Spectrum Markets and persons interested in becoming a Member of Spectrum Markets. Nothing herein constitutes an offer to sell or a solicitation of an offer to purchase any securitised derivatives listed on Spectrum Markets or any product described herein. Spectrum Markets does not provide financial services, such as investment advice or investment brokering. Prospective retail investors can trade such products only with their brokers. The information herein does not constitute investment advice or an investment recommendation. Any information provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it.
