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ASX FX CFDs See Soft Volumes as Equity CFDs Take Off

Foreign exchange contracts for differences (CFDs) on the Australian Securities Exchange (ASX) saw 84,124 lots worth a notional AUD 6.9 million traded in January 2008. In contrast, ASX’s equity based CFDs traded 8.7 million lots worth AUD 212.3 million in the same month.

The products, listed in November 2008, are the world’s first listed CFDs and are targeted at retail traders (Squawkbox, October 29, 2007). Analysts say ASX’s seven FX CFDs have to compete with an already active OTC margin FX industry in Australia serviced by the likes of MF Global.

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