Spectrum Reports Solid Trading for Turbo24s in November

During the month, more than 5.5 million turbo24s were traded.

Spectrum, a trading platform for structured products, has revealed its performance for the month of November this Thursday, posting a solid growth in trades on monthly comparison.

In particular, the volume traded in November increased by more than 100 percent compared with the previous month, which was the first full month of trading for the retail pan-European platform.

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5.5m turbo24s traded in November on Spectrum

During the month, more than 5.5 million turbo24s were traded. From this investment product, indices represented around 88 percent of the traded amount and currencies and commodities made up 7 and 5 percent, respectively.

Turbo certificates allow traders to make money from market fluctuations with leverage, they have a built-in stop loss, and positions are automatically closed once a predetermined price level is reached. For example, Turbo Long Certificates allow you to benefit from rising prices, whereas Turbo Short Certificates benefit from falling prices.

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According to the statement released today, all underlyings on the platform are popular. The turbo24 volume on the DAX represents 33 percent of the total, followed by the S&P 500 with 19 percent and the Dow Jones with 10 percent.

As Finance Magnates reported, Spectrum is a Frankfurt-based subsidiary of the IG Group and the multilateral trading facility (MTF), offering 24/5 access to the markets for investors trading securitized derivatives.

Nicky Maan the CEO of Spectrum
Nicky Maan, CEO of Spectrum

Commenting on the performance, Nicky Maan, Spectrum’s CEO, said: “Our second full month of trading has seen volumes increasing strongly across the breadth of underlyings – this demonstrates the attractiveness of our modern trading platform with its robust technology, lean product range and retail-focused venue approach.

“We’re deep into discussion with brokers and now with the vast majority of major issuers across Europe, where they are finding great interest in Spectrum. Our sales force is expanding as planned, as we start to build our key partnerships on Spectrum.”

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