Banca Comerciala Romana (BCR), a member of the Erste Group, has launched the new trading platform, BCR Trader, for investors with experience in trading forex, options, commodities and contracts for difference (CFDs).
BCR said through this platform, clients can make deposits/withdrawals in the BCR Trader account on the same day, unlike other similar platforms, where such transfers can take more than two days. The new platform is specifically designed to meet the active investors’ requirements, triggered by the trading of financial instruments with high leverage (starting from a 1% margin for certain instruments), using an intuitive interface that offers a complex set of instruments for assessing the market conditions.
The BCR Broker trading platform provides investors access to shares, bonds and securities listed on the local market (Bucharest Stock Exchange) or on the international markets. The two platforms BCR Trader and BCR Broker are integrated in an investment portal.
INVESTORS should be banned from trading contracts for difference unless they prove they can handle the highly complex derivatives, the Financial Ombudsman Service (FOS) has said. The call for a ban in the FOS’s annual review goes beyond the independent complaints body’s earlier written submission to the corporate regulator asking for comprehensive education to protect investors.
”In our experience, the only investors who trade in CFDs successfully are sophisticated traders who watch and manage their investments full-time,” the FOS stated in its review. In the review, the FOS raised the need for CFD traders to obtain a certificate from an accountant or financial planner to show they are competent to trade CFDs. The FOS’s investments ombudsman, Alison Maynard, said in an interview: ”We think a certificate from an accountant or an AFSL holder [financial planner] would be an appropriate safeguard.”
The FOS’s annual review for last year said of 54 complaints it had received in derivatives and hedging, half related to CFDs. ASIC’s approach, foreshadowed in a November consultation paper, focuses on CFD providers meeting a regime of disclosure against a set of benchmarks.
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CFD trading company, IG Markets has been judged Best CFD Provider for 2010 in Money magazine’s Best of the Best award. Money magazine used research by Investment Trends and CANSTAR CANNEX, and selected IG Markets on the basis of costs and features. In judging, Money magazine placed emphasis on choosing a CFD provider that offered guaranteed stop losses, an effective trading tool to help limit risk. Other features highly regarded by CFD traders (as surveyed by Investment Trends) were considered, including low transaction fees and access to a Direct Market Access (DMA) platform. Other strengths of IG Markets highlighted by Money magazine included: Guaranteed market prices regardless of CFD trading model; PureDeal and PureDMA products provide flexibility of both trading models, DMA and Market Maker; Fully customisable trading platform with low entry levels for traders to start (no minimum balance for PureDeal); ASX live data fees are rebated if four or more trades per month are completed on any market.
Mr Tamas Szabo, IG Markets Australia Chief Executive Officer, says “We have a clear focus on value for money, transparent pricing and the reliability of our browser-based dealing platform, regardless of the trading model you choose.” The accolade adds to the recent trend of awards IG Markets has scooped such as the CANSTAR CANNEX Five Star Rating for Outstanding Value CFD Provider and the Investment Trends research that recognised IG Markets as Australia’s number one CFD provider.
IG Markets specialises in financial derivatives, principally Contracts for Difference (CFDs) on over 7,000 global share CFDs, along with indices, forex trading, commodities, options, binaries and more. IG Markets is part of the IG Group, a UK FTSE 250 member with over 75,000 active clients worldwide.
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GAIN Capital, a global provider of online trading services, today announced the addition of nine new currency pairs and six equity index CFDs to its FOREX.com product offering. The new available currency pairs include Eastern European pairs including the Polish Zloty (USD/PLN, EUR/PLN), Czech Republic Koruna, (USD/CZK, EUR/CZK), Hungarian Forint (USD/HUF, EUR/HUF) and Turkish Lira (USD/TRY, EUR/TRY.) In addition, the South African Rand/Japanese Yen cross (ZAR/JPY) is now offered, a currency pair popular among carry traders. FOREX.com also added six new CFDs on popular global equity indices, allowing clients to take long or short positions on broad stock markets in Australia (AUS200), Japan (JPN225), Hong Kong (HK40), USA (US30 and NAS 100) and Europe (ESTX50).
“Today’s product expansion marks another milestone in our commitment to providing our clients access to the most widely traded global markets, including forex, stock indices, or commodities. As part of this commitment we are constantly looking at ways to enhance and expand our product and service offering,” said Glenn Stevens, CEO, GAIN Capital. Clients of FOREX.com can now trade 48 currency pairs, ten equity index CFDs, plus gold, silver, and oil CFDs.
GAIN Capital Holdings, Inc. is a global provider of online trading services, specializing in foreign exchange (forex or FX) and contracts for difference (CFDs). Customers and trading partners in more than 140 countries have utilized the company’s award-winning trading platform which transacts nearly $250 billion per month. A pioneer in online forex trading, GAIN Capital operates FOREX.com, one of the largest and best-known brands in the retail forex industry. It also provides execution, clearing, custody and technology products and services to an institutional client base including asset managers, broker/dealers and other financial services firms. GAIN’s investor group includes private equity firms 3i, VantagePoint Venture Partners, Tudor Ventures, Edison Venture Fund and Cross Atlantic Capital Partners.
Irish Finance Minister Brian Lenihan will publish new rules regulating derivatives within a month, forcing investors to disclose the building of stakes in companies using such instruments. The new rules will govern so-called contracts for difference, which enable investors to bet that a share price will rise or fall without owning any of the stock. Investors can agree at a later date to acquire the underlying shares from their CFD providers.
“We expect to have legislation on the matter published within the next four weeks,” a spokesman for the Dublin-based Finance Ministry said, without giving any details. Last year, the U.K.’s Financial Services Authority said it would bring forward the introduction of new rules which required long positions which use CFDs to be made public when holdings reach 3 percent.
Tracking SmartStream has announced that CMC Markets, a financial spread betting, CFD trading and FX trading company, has gone live on TLM OnDemand, SmartStream’s SaaS reconciliation service. To further enhance its operational efficiency and client service, CMC Markets selected SmartStream’s TLM OnDemand that offers the market leading reconciliations functionality as fully managed service. Further, the implementation program offered by the service would enable the firm to benefit from automated transaction processing that lowers exceptions and improves operational efficiency. After a short period of internal testing, TLM OnDemand in now live at CMC Markets processing the firm’s cash transactions.
Colleen Bohm, finance systems manager at CMC Markets, said: “TLM OnDemand was attractive because it introduces automated transaction processing with proven technology that will enable us to improve efficiency and lower costs. It is testament to the collaborative effort between CMC Markets and SmartStream that we have, in a short period of time, managed to install, test and go live with an entirely new solution for our back office environment.”
The LSE (London Stock Exchange) yesterday announced that it was extending its UnaVista business service to the swaps market, automating the trading of contracts for differences and other security derivatives and allowing brokers, hedge funds and prime brokers to communicate and match data through a central, secure, audited platform. It is understood that the new service is being tested by a number of hedge funds, prime brokers and executing brokers.
Mark Husler, Head of Information Services Business Development at London Stock Exchange Group, said: “For the first time UnaVista is now available for Swaps, helping our customers to streamline trade processing. The new Swaps Portal from UnaVista avoids the need for time-intensive, manual processes such as emails and faxes. It allows both small and large firms alike to connect in a cost-efficient manner, and provides the functionality to match trades and resolve exceptions on trade date.”
