Volume on Spectrum up 63% in December to New Record High of Over 9 Million Turbo24s
LONDON--(BUSINESS WIRE)--Jan 23, 2020--
Spectrum, the new European trading platform for retail investors, today reported its December volumes and, despite a quiet festive period for most, there were 9.05 million turbo24s traded on the venue compared with 5.55 million in November, an increase of 63%.
Through a period of high geopolitical tensions, out-of-hours trading (i.e. 1730-0900) increased to 36% of the total, proving retail investors want the flexibility to act on news fast and take advantage of opportunities day or night. FX instruments doubled as a share to account for 15%, with indices representing 81% and commodities 4%. The top traded underlyings were: DAX (37.5%), S&P 500 (16%) and CAC (9%).
Nicky Maan, Spectrum’s CEO, commented, “We’re encouraged by further growth in December, with new record highs on trades, securities traded and average ticket size. Our growth strategy for 2020 focuses on new European distributors, new manufacturers, and new products.
“Combined with further additions to our commercial team and continued community engagement, we’re excited to enter the new year in a strong position.”
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. 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.
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.
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PUB: 01/23/2020 04:01 AM/DISC: 01/23/2020 04:01 AM