Certificate trading on European structured products market Scoach via the technology of Deutsche Börse's Xetra pan-European electronic trading platform, underway for 100 days now, has reduced the order execution time drastically, the exchange says.
Performance measurements indicate that orders which were previously executed in around six seconds can now be executed in just one second, according to Scoach co-owner Deutsche Börse, offering particular benefits for trading in very volatile leveraged instruments.
Making Scoach products tradable across Europe via Xetra has given around 260 market participants, 100 of them are from European countries outside Germany, direct access to more than 340,000 financial instruments. Scoach uses the Xetra technology for certificates trading on trading days between 9 a.m. and 8 p.m.
Expanding certificate trading to 19 Xetra participant countries greatly internationalised trading on Scoach in the first two months following migration, the exchange says, and in July more than 15 percent of all Scoach orders came from abroad.
Deutsche Börse says Scoach's share of the exchange trading of structured products is also increasing, growing by 4.2 per cent in the second quarter to 33.8 per cent and in July reaching a 34.7 per cent share of order book turnover.
'The move onto the Xetra platform has had very positive interim results for Scoach,' says chief executive Marc Zahn. 'We continue to safeguard our position as Europe's leading stock exchange for certificates and warrants.'
Scoach, a joint venture between Deutsche Börse and Swiss Financial Market Services, formerly SWX Group, launched trading in structured products in January 2007.