Sales in contracts for difference (CFD) products, as well as the volume of financial spread bets placed, have soared over the past month, as investors look to make money out of falling markets.
As a result, Irish firms offering such products are reaping the benefits. It is estimated that CFDs comprise around 40 per cent of trading on the Irish market, and a host of firms including the main stockbroking firms, as well as those offering spread-betting services.
Conor O’Neill, joint managing director of Delta Index, which offers both CFDs and spread betting services, told FINANCE that in the two weeks from July 23rd, the firm’s business grew by 50 per cent, driven by the on-going volatility in global markets. He said that prior to June, the lack of volatility in the markets was unusually low, and that he expects the current uncertainty to last for some time. |
