FCA regulated Playtech subsidiary, CFH announced additions to its Bullion offering. It now covers a list of synthetic instruments based on the underlying Loco London gold offering in responds to market needs in Australia, Singapore, China, Hong Kong, UAE and Turkey. The offering provides a convenient way for clients to hedge gold positions quoted in different weight units and local currencies.
The additions to the offering cater to the niche but growing requirements from bullion traders who receive gold trades from end clients denominated in grams or taels. CFH has added contracts to their bullion offering including gold in teal against Hong Kong dollar, gold in grams against USD and Gold in grams against CNH.
Alex Yap, Senior Institutional at CFH stated:
“East meets West” can give a whole new meaning to bullion trading. Spot gold in gram and Hong Kong tael quoted in US dollar and local currencies is another CFH product innovation.
CFH’s new product offering targets clients trading gold denominated in different currency and unit including RMB Kilobar which is frequently traded in Shanghai Gold Exchange.
Gold traders often require OTC venues to manage their exposure to traditional exchange products that are less flexible.
Alex MacKinnon, CEO APAC said:
This addition to our bullion offering further establishes CFH as a leader in the prime brokerage and Liquidity space that is able to recognise a client needs and has the agility to react, innovate and implement in a very short time frame.
