Börse Frankfurt Records Increased Certificate Trading Market Share in 2016

The exchange has reported that activity for the year remained high while international participants' orders doubled.

Deutsche Börse announced today that over 2.1 million customer orders in structured products were traded via Börse Frankfurt in 2016, with a total turnover of €14.8 billion ($15.6 billion).

The exchange reported that activity remained comparatively high, even though it recorded figures of ten percent less year-on-year. Responsibility for trade in the 1.3 million investment and leverage products lies with Börse Frankfurt Zertifikate AG, a wholly-owned subsidiary of Deutsche Börse AG since mid-2013.

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International Participants Double

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

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 who added: “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 although partial executions are not possible.

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