South African-founded online financial derivatives market-maker Global Trader launched its UK operation yesterday, with CEO Fleur Gremmen ringing the London Stock Exchange opening bell to mark the occasion.
This follows the May announcement that the group had been awarded a full securities trading licence by the Financial Services Authority, a UK securities regulator.
Global Trader, which recently celebrated its fifth anniversary, has a reach into Europe, North America and Asia, and has a physical presence in SA, Canada Thailand, and now the UK.
The group, which pioneered the launch of contracts for delivery (CFDs) in SA, will now provide flexible spread trading and CFDs in the UK.
A contract for difference is a "virtual trade" through which traders gain complete access to price movements in a stock without having to take ownership of the underlying asset - essentially financial instruments that mirror the movements of the underlying stock.
"The UK is one of the most sophisticated investor markets in the world, yet was still limited to spreads services rooted in the past. Global Trader has been purpose built to create the best possible trading environment for individuals and smaller funds alike," says Gremmen.
"We can offer more markets, more transparency and more certainty than UK investors and traders have been used to."
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