Flow Traders, Europe’s biggest trader of ETFs and similar products, reported net profits of €375.3m in the first six months of 2020, more than ten times greater than a year earlier — as the coronavirus slump and rebound has led to a trading bonanza for market-makers.

The Amsterdam-headquartered company is involved in about one in every four transactions of exchange-traded products (ETPs) in Europe, its strongest market. The firm’s net trading income in the first half leapt more than 500% to €724.8m.