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- 2023 order book turnover grew 9% on 2022
- Volume of securities traded reached 1.62bn, an increase of 14% on 2022
- Milestone achievements set the groundwork for future growth
Spectrum Markets ("Spectrum"), the pan-European trading venue for securities, has released its Full Year 2023 Business Update revealing continued growth despite more challenging market conditions and a wider trading uncertainty.
Trading volume for the year grew by 14%, with 1.62 billion securities traded in 2023 compared to 1.42 billion the year before. This volume was executed across nearly 2.5 million trades, with 33.9% of those taking place outside of traditional hours (i.e. between 17:30 and 9:00 CET).
Spectrum reported a 9% increase in the total value of order book turnover compared to the previous year, hitting €3.62 billion in 2023.
During 2023, which was Spectrum’s fourth full calendar year in business, the firm unveiled several important initiatives and milestones, including welcoming UniCredit Bank GmbH as a member of the venue, making a range of warrants and constant leverage warrants accessible to retail investors via their broker or bank.
With three issuers now live on the venue, the number of instruments available on Spectrum to retail traders across Europe has increased by more than six times, year on year.
Another key partnership saw independent Italian retail broker Directa join Spectrum, allowing more retail investors to trade securities, 24 hours a day, five days a week. Additionally, in a strategic move, Spectrum signed a collaboration with ICE Data Services Italy, a subsidiary of Intercontinental Exchange, Inc. (NYSE: ICE), making Spectrum's reference data more broadly accessible across financial platforms.
Lastly, Spectrum joined two key European industry associations: becoming a supporting member of the German Structured Securities Association (Bundesverband für strukturierte Wertpapiere - BSW), underpinning the association's work for structured products; and an associate member of the Italian Association of Certificates and Investment Products (ACEPI), expanding its commitment to collaborate closely with securities associations in Europe.
Together, these partnerships represent a significant next step for Spectrum’s ongoing growth strategy, expanding the range of products available and making these accessible to more investors more easily, allowing trading via a single pan-European ISIN, through which investors benefit from a deeper liquidity pool.
“2023 posed many challenges for the trading and investment space, with declining volumes seen across the industry, so I’m really pleased that Spectrum’s performance remained relatively robust, with our volumes showing notable resilience and continuing to increase from last year. We’ve made great progress on our long-term growth plans, notching up another record year, which is a testament to the hard work of the whole Spectrum team, and the ongoing support of our partners and members,” said Nicky Maan, Spectrum Markets CEO.
“Looking ahead to 2024, our focus remains on enhancing and expanding our venue by improving connectivity options and trading infrastructure, as well as welcoming more members to the venue,” he adds.
In 2023, 84.3% of the traded securities were on indices, 9.9% on currency pairs, 4.1% on commodities, 1.5% on equities, and 0.2% on cryptocurrencies. The most traded underlyings last year were DAX 40 (29.4%), NASDAQ 100 (20.2%) and S&P 500 (18.9%).
