iBroker taps Spectrum to launch securitised derivatives 24/5 in Spain and Italy

Rick Steves

“Our partnership with Spectrum Markets has enabled us to easily and cost-effectively extend our offering simultaneously in both Spain and Italy to include securitised derivatives, a new type of product for us that we believe is well suited to the preferences of our clients.”

iBroker, a Spanish online multi-product broker specialising in derivatives has tapped Spectrum Markets in order to extend its current offering to include securitised derivatives.

The brokerage firm, which caters to retail investor clients in Spain and Italy, will enable them to trade these leveraged instruments via Spectrum’s regulated trading venue, 24 hours a day, five days a week.

iBrokers to add Turbos to futures, options, CFDs and FX

iBroker will start by adding Turbos to its existing product range, which includes US and European listed derivatives (futures and options) as well as OTC products (CFDs and FX).

The offering is available 24/5 on the firm’s integrated platforms, including web-based, phone and tablet apps, and advanced integrations with third party charting tools like TradingView or Visual Chart.

Spectrum uses an ISIN for each instrument listed on the venue, which ultimately gives investors access to a deeper liquidity pool as all iBroker’s trading volume executed on Spectrum across Spain and Italy will be consolidated in one international order book.

Transactions are settled via Euronext Securities Milan using existing connectivity, making it easy for iBroker to access Spectrum’s plug-and-play trading infrastructure.

Turbos vs CFDs

Turbos, formerly known as listed contracts for difference (CFDs), are leveraged investment instruments that enables traders to speculate on the upward or downward movement of the underlying instrument, such as shares, indices or equities.

All turbos feature a knock-out barrier at no extra cost to the investor, meaning the contract will automatically close if it reaches the knock-out barrier and ensures you can never lose more than your initial stake. The built-in stop loss means that positions are automatically closed once a predefined price level is achieved.

EU regulation MiFID qualifies Turbo Certificates as transferable securities. Turbos are usually traded on a regulated market or MTF (multilateral trading facility) that involve extra transparency obligations as opposed to OTC trading. Another benefit is that retail clients are not liable for further payment once a position is closed or the transaction is completed. Turbos are not margined products and investors cannot change the leverage of the certificates.

“A lot of potential for securitised derivatives in Spain”

Nicky Maan, Chief Executive Officer at Spectrum Markets, said: “With their emphasis on providing investors a safe, simple and transparent financial markets experience, and their focus on modern, digital technology, iBroker is a natural partner for us, so we are delighted to be welcoming them to the venue. 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. I’m proud that Spectrum is helping to tackle these issues and give investors more tools to trade international markets.”

Enrique Marti, Chief Executive Officer at iBroker, commented: “Our partnership with Spectrum Markets has enabled us to easily and cost-effectively extend our offering simultaneously in both Spain and Italy to include securitised derivatives, a new type of product for us that we believe is well suited to the preferences of our clients. We see a lot of potential for securitised derivatives in Spain, particularly following the work Spectrum has done to address the market. We are looking forward to building the market alongside Spectrum, creating more opportunities for trading.”

Read this next

Metaverse Gaming NFT

DCentral Miami brings together all of Web3, NFT, DeFi, Metaverse

The world’s biggest Web3 meeting entitled DCENTRAL Miami is set to take place November 28-29, featuring a lineup of some of the biggest and most influential names in the blockchain space.

Digital Assets

Crypto ban expands across UK banks as Starling joins ‎crackdown

UK digital bank Starling has banned ‎all customer payments related to cryptocurrencies, another blow for the crypto traders ‎who recently saw a sizable number of banks deciding not to ‎finance the wobbly asset class.‎

Interviews

Markets Direct at FIA EXPO 2022: Traders know what they want from brokers

The FIA Expo 2022, one of the most prestigious events within the global derivatives trading industry, took place in Chicago on 14 & 15 November.

Interviews

FIA Expo 2022: TNS addresses public cloud limitations with hybrid infrastructure

November is the month of the FIA Expo, one of the largest futures and options conferences in the world, bringing together regulators, exchanges, software vendors, and brokers in one place: the Sheraton Grand Chicago Riverwalk. 

Retail FX

Italy’s regulator blacks out Finance CapitalFX, MFCapitalFX

Italy’s Commissione Nazionale per le Società e la Borsa (CONSOB) has shut down new websites in an ongoing clampdown against firms it accuses of illegally promoting investment products in the country.

Retail FX

Suspected leader of Honk Kong ramp-and-dump scam appears in court

A leader of a sophisticated ramp-and-dump scheme made his first court appearance in a Hong Kong court today, charged with market manipulation and various criminal offences. The case stems from an earlier joint operation of Hong Kong’s financial watchdog, the Securities and Futures Commission (SFC), and the local police. 

Institutional FX

Cboe’s James Arrante discusses growing demand for fixed income, FX algo

We caught up with James Arrante, senior director of FX & US treasuries product and business management at Cboe Global Markets, to uncover emerging trends in the FX and fixed income markets and learn more about the bourse operator’s recent initiatives.

Retail FX

Eurotrader acquires UK broker Petra Asset Management

Eurotrader Group has formally entered into the UK market with the acquisition of FCA-regulated broker, previously named Petra Asset Management Ltd. The new entity operates under the brand name Eurotrade Capital Ltd.

Inside View, Retail FX

The Game of Chess Continues – OPEC, China and the Oil Market

Over the past decade, the US has been complaining about the amount of power which the BRIC group, and specifically China, has on the global economy. BRIC stands for Brazil, Russia, India and China; these were the world’s fastest growing economies. Only in the past 10 months, the US has turned their attention toward OPEC due to the prices of fuel. Nevertheless, China seems to have a strong influence even over the price of crude oil.

<