Pan-European trading venue for securitised derivatives Spectrum Markets today released its financial results for the first quarter business update. The report revealed a positive momentum for the company for the three-month period between January and March as the company witnessed trading volumes and order book turnover record highs.
Spectrum Markets reported that its trading volume reached 49% increase on yearly basis with 447 million securitised derivatives being traded on the exchange during that period. In comparison, the company recorded 300 million during the first quarter of 2022.
We’ve had a very successful start to 2023, achieving another strong quarter of growth, and building on the foundations of our robust and innovative pan-European trading ecosystem to further enhance connectivity and expand our partner network.
According to the numbers, the total value of order book turnover exceeded €1 billion for the first time in the company’s history. The figure grew 33% compared to the same period during the previous year. Spectrum Markets highlighted its expectation that it will continue to see strong performance in the year ahead as it is anticipating new members and products.
Maan added:
Recording our first billion-euro quarter in terms of order book turnover is another major milestone for the business, and underlines our belief in the appetite among European investors for a better way to trade. We will continue to invest across the business to make sure we are delivering the very best experience for retail investors, brokers, issuers and other Spectrum stakeholders.
In Q1 2023, Spectrum Markets registered 34.4% individual trades that took place outside of trading hours. The company reported that the majority of traded derivatives were indices (83.6%), followed by currency pairs (8.6%), commodities (6.2%), equities (1.4%), and cryptocurrencies (0.2%). Among these, the DAX 40 (27%), S&P 500 (20.5%), and NASDAQ 100 (19.6%) were the most commonly traded underlyings.
Earlier this week, Spectrum Markets announced it has partnered with ICE Data Services Italy to provide its data to the company’s clients in Italy, as well as financial information and news websites.
Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.
