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Traders' Choice Awards
Traders decide the top spots
December, 2007
Winner – Best CFD Provider
Finalists
Taking out the number one spot in CFDs, MF Global has been ranked the best CFD provider in the CompareShares Traders’ Choice Awards.
An early entrant to the CFD market back in 2002, MF Global introduced its flagship direct market access (DMA) style CFDs to Australia that are heralded for transparent pricing and clean-cut execution.
In typical DMA style, every CFD trade is actually executed as a share trade through the Exchange, or putting it another way, when traders buy or sell a CFD through MF Global they actually see their trade sitting in the ITS (Integrated Trading System) queue on the ASX along with other traders, and the trade is "filled" at the identical exchange price. The DMA variety differs to the Market Maker style of CFDs where a synthetic market is created to mirror the underlying market and market liquidity is determined by the CFD provider.
Richard Avery-Wright, the head of MF Global's CFD desk says that its clients like to see their bids and offers appear in the underlying market. "It helps to keep frictional costs, such as slippage to a minimum, which in turn makes it much easier for the client to profit from their directional views."
Asked why traders have voted MF Global as number one in CFDs, Avery-Wright highlighted customer service as a priority for the team. "Our client services and dealing team pride themselves on having a deep understanding of CFDs and the market in general," he says. Clearly this is a plus for traders dabbling in a market that until 2002 didn’t even exist in Australia for retail punters. For many traders the art of trading CFDs is still more or less unexplored and guidance from those in the know is much heeded.
Avery-Wright also mentioned MF Global’s trading software, eMpower, provided by IRESS Market Technologies as a plus for traders. "eMpower is capable of trading many different asset classes in many different markets. The institutional-like interface and the excellent multi-currency risk management module allows users to easily view their daily profit and loss and positions in real-time," says Avery-Wright.
Overall, the team at MF Global is thrilled to be voted by CompareShares users as the Best CFD provider of the year. "Winning the Compareshares Traders' Choice Award for CFDs is a great honour for all of the staff at MF Global," says Avery-Wright. "Traders and investors in CFDs are ideally placed to make an informed decision on which provider is best for their individual needs. Therefore, it is perhaps a vindication of all the hard work that has gone into providing our CFD clients with a great product and exceptional service. Finally, we would like to thank all our customers for their support and particularly their choice of MF Global as winner of this prestigious prize."
For the full article on the awards outlining all the winners, follow this link:
Traders’ Choice Awards: Traders & investors decide the top spots
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