Phillip Securities, one of the biggest brokerages in Singapore, has launched two new CFD products based on Asian indices. They are the FBM KLCI MYR 10 CFD, based on the FTSE Bursa Malaysia KLCI headline index, and the FTSE China A50 Index USD 1, based on the 50 largest Chinese A-share stocks listed in Shanghai and Shenzhen.
Both indices adopt FTSE’s calculation methodology, including free float adjustment and liquidity screens, and are managed with a clear and transparent set of index rules.
“Having these additional indices allows our clients to trade the Malaysian and A-share markets, both of which are very niche and have been difficult to investors to enter until now,” explained Lee Chang-Wen, a manager with Phillip Securities.
Phillip Securities entered the CFD market in 2003. Since then it has also launched a treasury bills platform and OTC trading. It was the first broker in Singapore to launch online share trading, in 1996.