The European
trading venue for retail investors, Spectrum Markets, released its H1 2024 business
update today (Tuesday), revealing a mixed performance amid challenging market
conditions. The company reported a 15% decline in order book turnover compared
to H1 2023 while implementing strategic expansions and new partnerships.
According
to the latest data from the company, it has reached 1.2 million traders and
achieved a turnover of $1.5 billion. That is $200 million lower than the €1.7
billion reported for the same period last year.
Spectrum Markets CEO, Nicky Maan
“Spectrum
has faced a complex market landscape in H1 2024,” Nicky Maan, CEO of Spectrum
Markets, commented on the results. “Although we experienced some downturns, we
remain dedicated to our long-term growth strategy and proactive approach.”
Despite the
downturn, Spectrum Markets demonstrated some resilience and extended its
product range to include approximately 1,800 ETFs. This expansion, made in
collaboration with ICF BANK AG as the exclusive liquidity provider, aims to
offer retail investors across Europe increased diversification and liquidity
options with competitive fees and extended trading hours.
The
company’s trading data revealed that 34.9% of individual trades occurred
outside traditional hours. The order book turnover was distributed among
various underlying assets, with indices accounting for 77.5%, followed by
commodities at 10.5%, equities at 4.9%, currencies at 3.8%, and
cryptocurrencies at 3.3%. The top three traded underlying markets were DAX 40
(28.6%), NASDAQ 100 (23.5%), and DOW 30 (10.7%).
In a move
to strengthen its industry position, Spectrum Markets also became a member of
the German Federal Association of Investment Firms during the first half of 2024.
Spectrum Extends Trading
Hours for Retail Traders
Spectrum
Markets has recently announced several strategic moves to enhance its position
in the European retail trading landscape. Last week, the company welcomed
Baader Bank as its newest trading member, a partnership expected to strengthen
Spectrum’s foothold in Germany. This collaboration will offer Baader’s
expanding retail broker clientele access to extended trading hours and a more
diverse array of financial instruments.
Spectrum
Markets first unveiled its plans to significantly expand its product
offerings by introducing nearly 1,800 ETFs from over 30 global fund providers
in June. This expansion aims to provide retail investors with a wider selection
of trading options, with ICF BANK AG serving as the exclusive liquidity
provider for these new offerings.
While
Spectrum’s first-half 2024 results show a decline compared to the previous
year, it’s worth noting that 2023 was a record-breaking year for the company.
According to a report released in January, Spectrum’s total order book turnover
for 2023 increased by 9%, reaching €3.62 billion.
The company
also saw significant growth in trading volume during 2023, with a 14% increase
to 1.62 billion securities, up from 1.42 billion in 2022. This volume was
achieved through almost 2.5 million trades, with a notable 33.9% of these
transactions occurring outside standard trading hours, specifically between
17:30 and 9:00 CET.
The European
trading venue for retail investors, Spectrum Markets, released its H1 2024 business
update today (Tuesday), revealing a mixed performance amid challenging market
conditions. The company reported a 15% decline in order book turnover compared
to H1 2023 while implementing strategic expansions and new partnerships.
According
to the latest data from the company, it has reached 1.2 million traders and
achieved a turnover of $1.5 billion. That is $200 million lower than the €1.7
billion reported for the same period last year.
Spectrum Markets CEO, Nicky Maan
“Spectrum
has faced a complex market landscape in H1 2024,” Nicky Maan, CEO of Spectrum
Markets, commented on the results. “Although we experienced some downturns, we
remain dedicated to our long-term growth strategy and proactive approach.”
Despite the
downturn, Spectrum Markets demonstrated some resilience and extended its
product range to include approximately 1,800 ETFs. This expansion, made in
collaboration with ICF BANK AG as the exclusive liquidity provider, aims to
offer retail investors across Europe increased diversification and liquidity
options with competitive fees and extended trading hours.
The
company’s trading data revealed that 34.9% of individual trades occurred
outside traditional hours. The order book turnover was distributed among
various underlying assets, with indices accounting for 77.5%, followed by
commodities at 10.5%, equities at 4.9%, currencies at 3.8%, and
cryptocurrencies at 3.3%. The top three traded underlying markets were DAX 40
(28.6%), NASDAQ 100 (23.5%), and DOW 30 (10.7%).
In a move
to strengthen its industry position, Spectrum Markets also became a member of
the German Federal Association of Investment Firms during the first half of 2024.
Spectrum Extends Trading
Hours for Retail Traders
Spectrum
Markets has recently announced several strategic moves to enhance its position
in the European retail trading landscape. Last week, the company welcomed
Baader Bank as its newest trading member, a partnership expected to strengthen
Spectrum’s foothold in Germany. This collaboration will offer Baader’s
expanding retail broker clientele access to extended trading hours and a more
diverse array of financial instruments.
Spectrum
Markets first unveiled its plans to significantly expand its product
offerings by introducing nearly 1,800 ETFs from over 30 global fund providers
in June. This expansion aims to provide retail investors with a wider selection
of trading options, with ICF BANK AG serving as the exclusive liquidity
provider for these new offerings.
While
Spectrum’s first-half 2024 results show a decline compared to the previous
year, it’s worth noting that 2023 was a record-breaking year for the company.
According to a report released in January, Spectrum’s total order book turnover
for 2023 increased by 9%, reaching €3.62 billion.
The company
also saw significant growth in trading volume during 2023, with a 14% increase
to 1.62 billion securities, up from 1.42 billion in 2022. This volume was
achieved through almost 2.5 million trades, with a notable 33.9% of these
transactions occurring outside standard trading hours, specifically between
17:30 and 9:00 CET.
