Global Board of Trade (GBOT), the first international multi‐asset bourse from Mauritius has announced that the GBOT SILVER SPOT CFD contract has gone live for trading on Monday, 29th July 2013. This precious metal CFD contract, launched three months after GBOT became the 1st exchange in Africa to have successfully introduced exchange traded CFDs, signifies the exchange’s commitment towards product innovation.
The GBOT SILVER CFD contract is benchmarked against silver spot prices and has a contract size of 50 Troy ounces. This new contract will allow market participants to hedge their silver exposure and further enhance retail market participation by attracting participants with a small trading and investment threshold.
The specifications of the GBOT SILVER CFD Contract are:
- Contract Size: 50 Troy ounces
- Price Quotation: United States Dollar (USD)
- Settlement: Cash Settlement
- Initial Margin (Minimum): 4%
- Trading Hours: 10:00 hrs to 22:00 hrs (Mauritius time, GMT+4)
This standardized GBOT SILVER CFD contracts will offer enhanced transparency, no counterparty risk, high return potential, low entry threshold and no levy of overnight rollover and open interest charges. Participants can take advantage of both rising and falling markets.
Mr. Rinsy Ansalam, MD & CEO of GBOT, said: “In the near past, silver has been one of the most volatile commodities and with the launch of Silver CFD, we are offering market participants in Africa and across the world with an efficient and sophisticated risk management platform for silver price hedging. With the introduction of Silver CFD, we have enhanced our precious metal offering and we invite traders, investors, jobbers and hedgers to take advantage of this small sized product with narrow spreads and low transaction charges.”
Market participants may view live GBOT SILVER CFD rates at www.gbot.mu