- Strategic expansions and new partnerships strengthened business’s proactive approach in H1 2024
- Spectrum Markets responded to investor demand by making around 1,800 ETFs from more than 30 providers available on the trading venue in H1 2024
- Spectrum Markets becomes a member of the German Federal Association of Investment Firms (Bundesverband der Wertpapierfirmen, bwf)
Spectrum Markets (“Spectrum”), the pan-European trading venue designed for retail investors, has released its H1 2024 Business Update, reflecting the challenges posed by a volatile economic landscape and fluctuating equity markets. Despite the current conditions, Spectrum is leveraging forward thinking initiatives and effective adaptability, building a strong foundation for long term success.
During the first half of 2024, Spectrum Markets reported a total of 1.2 million trades, with order book turnover seeing a 15% decline to €1.5 billion compared to €1.7 billion in H1 2023. While experiencing this drop, Spectrum continues to exhibit resilience and strategic growth in a challenging environment.
In H1 2024, Spectrum Markets also expanded the products range available for trading, to include around 1,800 Exchange Traded Funds (ETFs) for trading with ICF BANK AG, the German securities trading bank and a leading market-maker in Germany, as the exclusive liquidity provider for ETFs on the venue. This expansion enables retail investors to participate in financial markets beyond Germany, across Europe, offering ETFs that provide diversification and liquidity, with competitive fees and extended trading hours that set a new benchmark for the European market.
Another significant milestone in H1 2024 was Spectrum becoming the new member of the Frankfurt-headquartered German Federal Association of Investment Firms (bwf). This membership reflects Spectrum's commitment to industry progress, regulatory alignment, transparency, and investor protection within the security industry.
Lastly, Spectrum Markets in this half celebrated its third anniversary with global vision impairment charity Sightsavers, continuing its support for the 'Childhood Blindness Project' in Nigeria. This initiative reflects Spectrum’s belief in the importance of enabling vision and its commitment to making a meaningful impact through corporate social responsibility.
“Spectrum has faced a complex market landscape in H1 2024, and although experienced some downturns, we remain dedicated to our long-term growth strategy and proactive approach in contributing to industry advancements through collaborative efforts,” explains Nicky Maan, CEO of Spectrum Markets.
“Through the strategic initiatives of broadening our offering and partnering, we continue our commitment to innovation. As we navigate these challenging times, our focus remains on enhancing our trading infrastructure, expanding our product range, and fostering new partnerships that will drive future success,” he adds.
During H1 2024, 34.9% of individual trades took place outside of traditional hours (i.e., between 17:30 and 9:00 CET). The order book turnover was distributed among various underlying assets as follows: 77.5% on indices, 10.5% on commodities, 4.9% on equities, 3.8% on currencies, and 3.3% on cryptocurrencies. The top three traded underlying markets were DAX 40 (28.6%), NASDAQ 100 (23.5%), and DOW 30 (10.7%).
