Scoach, the Frankfurt exchange for structured products, is expanding and internationalizing its group of market participants.
FINAM Limited, based in Cyprus, is the first Russian online broker to be connected to the trading platform. This enables around 80,000 end customers from Russia, Kazakhstan and the Ukraine to trade the structured products on Scoach in Frankfurt.
Moreover, connecting the Hungarian online broker CONCORDE Értékpapír gives an additional new group of investors access to Scoach products. With approximately 40,000 customers, CONCORDE Értékpapír is one of the largest brokers in Hungary.
Its customers include asset managers, pension and hedge funds as well as private investors.
"In connecting the new market participants from Russia and Hungary, we are continuing Scoach's European growth strategy. The market for exchange-traded certificates and leverage products will experience substantial growth in the coming years as a result of connecting foreign trading partners," said Christian Reuss, CEO of Scoach Europa AG.
Certificate trading on Scoach was internationalized back in April 2008 with the launch of Xetra technology. Since then, around 100 Xetra participants in countries other than Germany and Switzerland have had direct access to all structured products on Scoach. The following trading partners and online brokers in other European countries are currently connected to Scoach: Nordnet for Sweden, Finland, Norway, Denmark and Luxembourg; brokerjet Ceské sporitelny in the Czech Republic, brokerjet Sparkasse in Slovenia; BUDA-CASH Brókerház in Hungary and further online brokers in Austria and Switzerland.