Spectrum Markets, a pan-European platform for retail trading, has published a business update for H1 2024. In its press statement, the company said that this update better reflects the “challenges posed by a volatile economic landscape and fluctuating equity markets”.
Spectrum Markets Updates Its H1 2024 Business Outlook
During H1 2024, Spectrum recorded 1.2 million trades. Its order book turnover declined by 15%, coming in at €1.5bn as opposed to the €1.7bn reported in H1 2023. Spectrum maintained that it remains resilient and focused on strategic growth despite this drop.
The platform expanded its product range with approximately 1,800 exchange-traded funds (ETFs). Investors can trade in these through ICF Bank, the sole liquidity provider for the ETFs. According to Spectrum, this expansion enables participation in markets outside Germany and sets a benchmark with longer trading hours and “competitive fees”.
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Spectrum stated that initiatives such as these harness strength for long-term success despite the challenges of the present economic climate. The company is a new member of the German Federal Association of Investment Firms, which highlights its commitment to transparency and regulatory compliance.
The organisation further used the media release to highlight its social commitment and cited the long-standing support of Sightsavers, a charity dealing with global vision impairment. The CEO of Spectrum, Nicky Maan, commented:
Spectrum has faced a complex market landscape in H1 2024, and although experienced some downturns, we remain dedicated to our long-term growth strategy and proactive approach in contributing to industry advancements through collaborative efforts. As we navigate these challenging times, our focus remains on enhancing our trading infrastructure, expanding our product range, and fostering new partnerships that will drive future success.
