Spectrum Markets, a German trading venue for securitised derivatives, has partnered with iBroker as its newest European member.

The Spanish online broker specialising in derivatives will extend its current offering to include securitised derivatives, with retail investor clients in Spain and Italy able to trade these via Spectrum.

The Spanish market for securitised derivatives has been languishing for far too long - Nicky Maan, Spectrum Markets

On joining Spectrum, iBroker will start by adding Turbos to its existing product range, which includes US and European listed futures and options as well as OTC contracts for difference (CFDs) and foreign exchange (FX). Investors will be able to trade these 24 hours a day five days a week on the back of the firm’s integrated platforms, including web-based, phone and tablet apps, and integrations with third party charting tools like TradingView or Visual Chart.

'The Spanish market for securitised derivatives has been languishing for far too long, due in large part to inefficiency and high costs, penalising retail investors unnecessarily,’ said Nicky Maan (pictured), CEO of Spectrum Markets.

CSOP lists 2x leveraged trackers on HKEX

Issued by CSOP Asset Management Limited (CSOP), the Hong Kong-listed leverage product aims to capture short-term investment opportunities of China brokerage sector of A Shares. Tracking CSI All Share Investment Banking & Brokerage Index, it intends to adopt a swap-based synthetic replication strategy to achieve the investment objective, which is 2x performance of the index on a daily basis. Upon listing on 19 October, the leveraged exchange-traded fund (ETF) received HK$39m (US$5m) initial investment.

As the direct beneficiary of the bull market, China brokerage sector is highly correlated to China A shares performance. In a bull market, brokerage sector will be boosted by the growth of its major business tending to deliver an amplified performance of the China A Shares.

The amplified performance and higher volatility imply short-term trading opportunities for tactical investors, according to the issuer.

‘I believe that [the product] will be a good addition to our leveraged and inverse product spectrum, providing tactical investment opportunities to investors who look for amplified short term investment opportunities of China A Shares market,’ said Ding Chen (right), CEO of CSOP Asset Management.

SIX reports slowdown in October

In October 2022, trading turnover on SIX Swiss Exchange (‘SIX’) reached CHF79.3 billion (€80.4 billion), 16.1% lower than a month ago, while the number of transactions decreased 2.9% to 4,717,648. The SMI progressed 5.5% and reached 10,827.9 points at the end of the month. In the first 10 months of the year 2022, the trading turnover on SIX reached CHF1.04 trillion, 3.1% less year-on-year (YoY), while the number of transactions dropped 0.9% to 52,135,512.

The highest turnover on a single trading day was recorded on 4 October, which saw securities worth a total volume of CHF4.6 billion changing hands. The highest number of trades was recorded on 14 October at 270,075. The stock that generated the highest turnover during the reporting month was Nestle N with CHF7.2 billion. Novartis N was the most traded stock with 295,637 transactions.

In October, products linked to cryptocurrencies reached a trading turnover of CHF68.8m. In total, 173 products were traded, and 4,751 transactions concluded.

Boerse Stuttgart sets turnover record

Leverage products and bonds show increase in trading volume YoY. Boerse Stuttgart generated turnover of around €6.4 billion in October based on the order book statistics. Securitised derivatives made up the largest share of the turnover.

The trading volume in this asset class came to around €3.1 billion. Leverage products generated turnover of around €2.5 billion – around two percent more YoY. Investment products contributed around €673m to the total turnover.

According to the order book, trading in equities produced turnover of €900m. German equities contributed €527m towards this total. International equities generated turnover of around €373m. Turnover shown in the order book from exchange-traded products (ETPs) was €1.3 billion. The turnover from investment fund units in October was €103m.

Kenanga to roll out Malaysia’s first wealth superapp

Kenanga Investment Bank has inked an agreement with AntChain Technology, part of Ant Group, to build Malaysia’s first wealth SuperApp using AntChain’s proprietary mobile platform solution.

The application aims to help Malaysians grow their wealth through a platform that delivers financial products transparently.

‘The SuperApp will integrate a spectrum of financial and wealth offerings under one easy to access ecosystem, transforming how Malaysians view and approach wealth creation,’ said Datuk Chay Wai Leong (right), group managing director at Kenanga.

AntChain’s proprietary solution, known as the mobile platform as a service (mPaaS), originated from Alipay App and a one-stop mobile app lifecycle management solution.  

The SuperApp will extend the suite of digital products that Kenanga has rolled out, from Rakuten Trade to Kenanga Digital Investing, a robo-advisor that has amassed more than MYR250m in AuM since its launch in February.