New pan-European trading venue for retail investors, Spectrum, has launched this Monday, offering 24/5 access to the markets for investors trading securitized derivatives, the company has announced.
Based in Frankfurt, Spectrum is a multilateral trading facility (MTF) and a subsidiary of IG Group. The company is led by Nicky Maan, who is the Chief Executive Officer. Initially, the trading venue offers leveraged turbo warrants (turbo24s), which cover indices, currencies, and commodities.
Spectrum is authorized by German regulator BaFin and is an MTF under MiFID. According to the statement, the trading venue for on-exchange trading in the EU will appeal to financial institutions which are serving the on-exchange global leveraged products market.
Although initially offering turbo warrants for indices, currencies, and commodities, in the medium and long term, new products will be added as more venue participants are brought on board.
The trading platform has also been designed to facilitate an efficient connection for brokers. Spectrum offers a transparent order book, where orders will remain anonymous, but pre and post-trade information will be made public, and bilateral settlement between members where turbo24s will be settled within Clearstream.
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The turbo24s will be available to trade on the venue across eight European markets: France, Germany, Ireland, Italy, Norway, Spain, Sweden, and The Netherlands.
IG Group capitalizes on German market with Spectrum
As Finance Magnates reported, after a weak 2019 fiscal year, IG Group is planning on achieving growth in 2020 by leveraging the “substantial” opportunities still available to it in the geographies it operates in.
Spectrum is part of this strategy, as the company plans to take a meaningful share of the on-venue turbo market, by launching turbos on equity indices, currencies, and commodities, which have gone live today.
Commenting on the launch, Nicky Maan said: “We have developed our venue with a retail investor ethos at its heart. It’s designed to meet the ever-evolving demands for more sophisticated, safer trading, offering an innovative experience in a meticulously transparent environment.
“That’s why we offer 24-hour trading, as well as powerful, robust trading technology and an appealing product range. We want to grow this European market by providing efficiency and simplicity to brokers and consequently their retail investors, while maintaining the inherent advantages of on-venue trading.”