Online financial derivatives market maker Global Trader has launched a new online contracts-for-difference (CFD) trading platform to coincide with the company`s fifth anniversary.
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.
At the same time, the South African-founded group has announced that its UK operation has been awarded a full securities trading licence by the Financial Services Authority (FSA), a UK securities regulator.
"We received FSA regulatory approval two days ago," Global Trader SA MD Charles Savage said at yesterday`s celebration of the group`s fifth anniversary.
The authorisation enables the company to underwrite and act as an agent and broker in the UK market for CFDs and spread trades and opens the doors to organisations and individuals who prefer to or must invest with fully regulated financial services companies.
"This is a massive stamp of approval for our business. It opens doors not only to the UK, but also into central and eastern Europe." The licence also allows it to serve customers in Asian countries where regulators recognise the FSA.
Global Trader, which was founded in SA in 2000, has operations in Europe, North America and Asia. It is expected to announce a joint venture in Singapore within months.
The group says it is now the only company in SA to offer an online CFD trading platform, which allows for instantaneous execution.
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