Spectrum, the new European trading platform for retail investors in structured products, today reported its early progress.
Over the past three weeks, there has been an encouraging trend in trading on Spectrum, with over 1.7 million turbo24s traded, and volumes increasing by over 50% week-on-week at present. Launched in mid-August, Spectrum’s 24/5 trading platform allows brokers to offer their retail investors trading in over 400 turbo24 products on indices, currencies and commodities. With 24/5 market access for customers in Europe, Spectrum provides a completely new structured products trading platform and service offering.
Nicky Maan, Spectrum's CEO, said, "Our primary goal is to provide brokers and their retail clients with the benefits of our modern platform, robust technology, lean product range, retail-focused services, and our unique 24-hour trading experience. We’re pleased that trading has commenced, and retail clients can now have access to Spectrum from across Europe. Due to the high quality of liquidity, Spectrum is offering attractive prices right from the start."
The appeal of its 24/5 trading hours can already be seen, with over 30% of transactions taking place between the hours of 18:00 and 09:00, underlining how attractive this flexibility is for many market participants.
One of the big advantages of the new retail trading platform is Spectrum's European approach. The BaFin-regulated MTF pools liquidity from across Europe in the products being traded on its venue, with the resulting deeper liquidity creating fairer prices and benefiting retail investors. The flow of trading so far has been evenly spread across European countries.
78% of Spectrum’s flow to date has been on indices, but all of the 20 underlyings currently on the venue have seen trading, underlining the rationale for the lean product range approach. The product most traded on Spectrum has been turbo24s on the Dow Jones, followed by turbo24s on the DAX.
Spectrum’s European trading platform is designed to provide simple and efficient access for its participants, 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.
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Notes to editors
Spectrum is the trading name of Spectrum MTF Operator GmbH. Headquartered in Frankfurt, Germany, we offer a new way of dealing in leveraged products for the European retail market; introducing a purpose built 24/5 lit trading venue, with complete transparency, increased choice and maximum control.