CFH, a liquidity provider, has recently announced that it has expanded its Bullion offering to cover a list of synthetic instruments based on the underlying Loco London gold offering.
The expansion of its product offering caters to the market needs in Australia, Singapore, China, Hong Kong, UAE and Turkey. The expansion will allow its clients to hedge gold positions quoted in different weight units and local currencies.
In particular, CFH has expanded its offering to cater to the growing requirement from bullion traders who receive gold trades from end clients denominated in grams or taels, the company said in its statement.
With the expansion, CFH will now offer Gold in teal against the Hong Kong dollar (HKD), gold in grams against the United States dollar (USD) and Gold in grams against Chinese Yuan Renminbi (CNH).
Alex Yap, Senior Institutional at CFH
Commenting on the launch, Alex Yap, Senior Institutional at CFH said in the statement: “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.”
Furthermore the new product offering from CFH, a subsidiary of Playtech plc, has been developed for clients who trade gold denominated in different currency and unit such as RMB Kilobar. This is frequently trading in the Shanghai Gold Exchange .
Alex MacKinnon, CEO APAC at CFH
“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,” added Alex MacKinnon, CEO APAC in the statement.
CFH continues to expand in APAC region
This recent announcement comes at the same time that CFH has been actively expanding its reach in the Asia Pacific region. As Finance Magnates reported, the company launched its brand in Sydney Australia back in May, which is locally regulated through its parent Tradetech Group under the Australian Securities and Investments Commission (ASIC).
Furthermore, the company expanded its footprint in Singapore and the APAC region with the launch of an office regulated by the Monetary Authority of Singapore (MAS) in March.
