Daily turnover of non-assets on the "SPB Exchange" set a new all-time record — 78.4 billion rubles following the trading session on November 5. The rapid growth of liquidity in this segment gives retail investors faster access to opening and closing positions in bitcoin (BTC) and shares of American technology companies without the need to purchase the underlying assets themselves.
Non-assets are perpetual derivative contracts that track the price dynamics of a cryptocurrency or stock: the investor profits from price changes but does not buy the asset itself. The exchange commission for such trades is zero, but the platform charges a fee for carrying an open position over to the next day. The main demand is concentrated in contracts on cryptocurrencies and shares of chipmakers, and their prices are highly volatile — with a wrong forecast, the investor risks losing their investment.
Cryptocurrencies and chipmakers lead
Daily turnover was 31.3% higher than the previous high recorded on October 23. The top 15 by trading volume included non-assets on BTC, ETH, AMD, Circle, Coherent, Moderna, Nebius, SOL, Bloom Energy, Lumentum, Tesla, Sandisk, Dell, Coinbase and NVIDIA. Five of them are linked to the crypto market, and another seven — to chips and infrastructure for artificial intelligence (AI).
The platform's lineup includes 75 such instruments — on shares of global companies and cryptocurrency indices. One contract corresponds to one share of the underlying asset, so it is easy for the investor to compare its value with the share price. Trading takes place daily: on weekdays from 7:00 to 00:00 Moscow time, on weekends and holidays — from 10:00 to 00:00 Moscow time. The long session gives more time for trades, but an open position also remains vulnerable to sharp price fluctuations for longer.
Why turnover is growing so fast
The previous record was set on October 23 — then the daily trading volume of non-assets reached 59.7 billion rubles, with contracts on BTC, ETH and SOL making the main contribution. In June, the maximum daily turnover was only 6.21 billion rubles. Since then, the figure has grown more than 12-fold.
Since November 2, trading in non-assets on shares of global companies has been running an hour longer. The new high was recorded already in the first week under the updated schedule. In addition, on November 3 the lineup was expanded by ten contracts, including shares of NVIDIA, Dell, Oracle and Alphabet, after which the total number of non-assets reached 75. Instruments on NVIDIA and Dell already entered the top 15 by turnover on November 5 — the new products quickly attracted traders.
At the end of October, non-asset turnover grew by 6.1% to 800.72 billion rubles and accounted for more than 82% of all trading on the "SPB Exchange." The volume of securities transactions for the month declined by 5.9%, so the platform is increasingly dependent on demand for derivative contracts, primarily crypto ones.
Cryptalist analysis: The record turnover of non-assets reflects a structural shift in investor preferences: capital is flowing from classic securities into derivative instruments on cryptocurrencies and the AI sector, where volatility provides higher return potential. The concentration of demand around BTC and chipmakers makes the segment sensitive to corrections in both markets simultaneously, and the position rollover effect creates hidden costs for holding trades. The sustainability of record volumes will depend on the platform's ability to expand its lineup and retain liquidity amid high volatility of the underlying assets.