Global Board of Trade launches new CFD Silver contract. The world's second exchange to launch listed CFD contracts extends its coverage and now offers five exchange traded CFD contracts in currencies and commodities.
The Global Board of Trade (GBOT), a Mauritius based financial derivatives exchange has extended its CFD product offering with the launch of its benchmark Silver contract. The contract went live for traders on Monday the 29th of July. GBOT, a multi-asset trading bourse from Mauritius became the 1st exchange in Africa to have introduced exchange traded CFDs.
The new GBOT SILVER CFD contract is priced against silver spot prices and has a contract size of 50 Troy ounces. This new contract will allow market participants to hedge their silver exposure and further enhance retail market participation by attracting participants with a small trading and investment threshold.
Speaking about the new product launch, Rinsy Ansalam, MD & CEO of GBOT, said in a statement: “In the near past, silver has been one of the most volatile commodities and with the launch of Silver CFD, we are offering market participants in Africa and across the world with an efficient and sophisticated Risk Management platform for silver price hedging. With the introduction of Silver CFD, we have enhanced our precious metal offering and we invite traders, investors, jobbers and hedgers to take advantage of this small sized product with narrow spreads and low transaction charges.”
ACM Gold, a member of the exchange welcomes the new contract, Chief Executive Officer of the broker, Irfan Pardesi explained: “The launch of the Silver CFD contract on GBOT is an important milestone for silver price risk management and silver trading that will benefit the entire silver supply chain. The launch of new products will surely help the market participants in the African region to benefit from the transparent and fair international pricing. Continuous listing of new products such as Silver CFD will add further depth to the market for investors and traders who actively invest and trade regularly in commodities. Moreover, this small sized CFD contract being exchange traded with a spread of as low as 3 US Cents will be highly inviting for traders – both retail and institutional - and OTC participants from across the world. The counterparty guarantee offered by GBOT makes this contract more attractive allowing banks, fund houses and other institutions to trade with ease. We, at ACM Gold, welcome this initiative of GBOT and are excited to see the positive interest of our client base on GBOT’s Silver CFD contract.”
Established in 2010, GBOT is part of a consortium of financial services irms which includes Indian’s MCX and Singapore’s SMX. The parent firm, Financial Technologies, provides trading solutions on listed instruments. GBOT has been positioning itself as a reliable venue and has attracted brokers from across the region. The exchange boasts 19 members.
Piyush Parekh, Director at VIBHS Markets Ltd is pleased with the launch of the contract as it provides accessibility for retail investors, he commented: "The biggest advantage of this new product introduced by GBOT is that it is an exchange traded CFD contract and has a small size that will attract small players in huge volumes. Through a transparent trading mechanism on the GBOT platform along with an efficient and reliable clearing and settlement mechanism , the contract should attract active global participation. Further to the growing success of Gold CFD, WTI CFD, EUR/USD CFD and GBP/USD CFD contracts already introduced by GBOT, SILVER CFD too has the potential of becoming a huge revenue earner for brokers focusing on retail participation; it will also reduce the overall cost for brokers and their clients.”
The specifications of the GBOT SILVER CFD Contract are:
• Contract Size: 50 Troy ounces
• Price Quotation: United States Dollar (USD)
• Settlement: Cash Settlement
• Initial Margin (Minimum): 4%
• Trading Hours: 10:00 hrs to 22:00 hrs (Mauritius time, GMT+4)
The exchange plans to enhance its offering, a spokesperson for GBOT said to Forex Magnates: “Going forward we are looking at launching CFDs on Brent, AUD/USD, JPY/USD and others. Also, we are in advanced stages for the introduction of African Indices (Stock Exchange) and African Currencies.”
The Global Board of Trade (GBOT), a Mauritius based financial derivatives exchange has extended its CFD product offering with the launch of its benchmark Silver contract. The contract went live for traders on Monday the 29th of July. GBOT, a multi-asset trading bourse from Mauritius became the 1st exchange in Africa to have introduced exchange traded CFDs.
The new GBOT SILVER CFD contract is priced against silver spot prices and has a contract size of 50 Troy ounces. This new contract will allow market participants to hedge their silver exposure and further enhance retail market participation by attracting participants with a small trading and investment threshold.
Speaking about the new product launch, Rinsy Ansalam, MD & CEO of GBOT, said in a statement: “In the near past, silver has been one of the most volatile commodities and with the launch of Silver CFD, we are offering market participants in Africa and across the world with an efficient and sophisticated Risk Management platform for silver price hedging. With the introduction of Silver CFD, we have enhanced our precious metal offering and we invite traders, investors, jobbers and hedgers to take advantage of this small sized product with narrow spreads and low transaction charges.”
ACM Gold, a member of the exchange welcomes the new contract, Chief Executive Officer of the broker, Irfan Pardesi explained: “The launch of the Silver CFD contract on GBOT is an important milestone for silver price risk management and silver trading that will benefit the entire silver supply chain. The launch of new products will surely help the market participants in the African region to benefit from the transparent and fair international pricing. Continuous listing of new products such as Silver CFD will add further depth to the market for investors and traders who actively invest and trade regularly in commodities. Moreover, this small sized CFD contract being exchange traded with a spread of as low as 3 US Cents will be highly inviting for traders – both retail and institutional - and OTC participants from across the world. The counterparty guarantee offered by GBOT makes this contract more attractive allowing banks, fund houses and other institutions to trade with ease. We, at ACM Gold, welcome this initiative of GBOT and are excited to see the positive interest of our client base on GBOT’s Silver CFD contract.”
Established in 2010, GBOT is part of a consortium of financial services irms which includes Indian’s MCX and Singapore’s SMX. The parent firm, Financial Technologies, provides trading solutions on listed instruments. GBOT has been positioning itself as a reliable venue and has attracted brokers from across the region. The exchange boasts 19 members.
Piyush Parekh, Director at VIBHS Markets Ltd is pleased with the launch of the contract as it provides accessibility for retail investors, he commented: "The biggest advantage of this new product introduced by GBOT is that it is an exchange traded CFD contract and has a small size that will attract small players in huge volumes. Through a transparent trading mechanism on the GBOT platform along with an efficient and reliable clearing and settlement mechanism , the contract should attract active global participation. Further to the growing success of Gold CFD, WTI CFD, EUR/USD CFD and GBP/USD CFD contracts already introduced by GBOT, SILVER CFD too has the potential of becoming a huge revenue earner for brokers focusing on retail participation; it will also reduce the overall cost for brokers and their clients.”
The specifications of the GBOT SILVER CFD Contract are:
• Contract Size: 50 Troy ounces
• Price Quotation: United States Dollar (USD)
• Settlement: Cash Settlement
• Initial Margin (Minimum): 4%
• Trading Hours: 10:00 hrs to 22:00 hrs (Mauritius time, GMT+4)
The exchange plans to enhance its offering, a spokesperson for GBOT said to Forex Magnates: “Going forward we are looking at launching CFDs on Brent, AUD/USD, JPY/USD and others. Also, we are in advanced stages for the introduction of African Indices (Stock Exchange) and African Currencies.”
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Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
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Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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