Börse Frankfurt expands certificate trading market share in 2016


More than 2.1 million customer orders in structured products were traded via Börse Frankfurt in 2016, amounting to a turnover of €14.8 billion. Activity thus remained comparatively high, even though it was 10% less YoY. Responsibility for trade in the roughly 1.3 million investment and leverage lies with Börse Frankfurt Zertifikate AG, a wholly-owned subsidiary of Deutsche Börse AG since mid-2013.

Börse Frankfurt’s annual average German market share in structured products, measured by the number of trades executed, rose to 41%, even nudging up to 44.4% in Q4. Market share by turnover, at around 36 percent, remained at the previous year’s level. The percentage of orders made by international participants doubled to 22% in 2016, with volume of the same also increasing significantly to 17.4%.

Florian Claus, Börse Frankfurt Zertifikate AG Executive Board member commented:

We aim for high quality in structured product trading, the swiftest order execution possible as well as security, all at an attractive price for market participants. We are confident we will be able to convince more investors of exchange-regulated certificate trading in Frankfurt this year as well.

Introduced at the end of 2015, the quote request functionality for structured products also contributed to the positive performance, according to Börse Frankfurt Zertifikate AG Executive Board member Simone Kahnt-Eckner.

The quote request functionality combines features of direct trading with the advantages of exchange trading and is growing in popularity. One in five orders executed now trades at a better price than the indicative quote.

Investors send price queries to the trading venue via their broker’s order interface and receive a current indicative price. If the price appeals to them, clients can submit a limit order with a single click, and if not, they can request a new price. Orders executed following a quote request are always at either the price indicated or better; partial executions are not possible.

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Börse Frankfurt expands certificate trading market share in 2016

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