Global Board of Trade, an international multi‐asset bourse from Mauritius has successfully launched Contracts for Difference (CFDs). The launch of CFDs on GBOT makes it the 1st exchange in Africa and 2nd in the world to introduce CFDs.
GBOT CFDs will replicate the spot price performance of underlying assets and give traders and investors easy and seamless exposure to USD denominated currencies, commodities, equities and indices. The introductory CFD contracts on GBOT will include GOLD (1 Troy Ounce), WTI Crude Oil (10 Barrels), EUR/USD (1000 Euro) and GBP/USD (1000 GBP). The small sized products are launched with the objective of taking markets to the masses by allowing the investor to trade with as low as USD 20. As the market matures, GBOT will scale up its operations along with its CFD product portfolio to suit the preferences of its members and aid their business expansion.
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Mr. Jignesh Shah, Chairman & Managing Director of Financial Technologies Group, India and Vice-Chairman of GBOT, said: “The launch of CFDs on GBOT reinstates our vision of taking Wall Street to the Man on Street. We have been successfully implementing our model of organized markets for masses from Asia to Middle-East and are committed to lead the development of African Financial Markets with GBOT.”
Commenting on the launch of CFDs, Mr. Rinsy Ansalam, MD & CEO of GBOT, said: “A key ingredient towards a vibrant capital is product innovation and the launch of CFDs is yet another initiative of GBOT that will democratize markets and allow the smallest investor to participate. The target market range of this segment includes fund houses, traders, students, house wives and people with no finance background. As a CFD pre-launch initiative, GBOT has conducted over 50 workshops to educate over 500 participants on its features and advantages. Through education, we are simplifying financial markets for masses.”