Three New Indices being launched by CMC Markets
CMC Markets, A Financial Broker that focuses on Contracts-for-Difference and Spread Betting has announced that they’re introducing three new cryptocurrency indices to clients. These indices will be applicable to Spread Bets and CFDs. The indices will also be available for usage with all major cryptocurrencies including Ethereum, Ripple, Bitcoin, BTC and LiteCoin. These indices are also applicable to newer cryptocurrencies like EOS, Monero, Dash, NEO, Cardano, Tron and Stellar Lumens.
No coin will be dominated over the other, with weighting methodology being enacted on all crypto index’s listed above. Each index consists of multiple ranges for emerging and cemented coins in the cryptocurrency industry. CMC Clients will be able to acquire economic exposure through a cost-effective system of single transactions on cryptocurrencies.
This announcement comes weeks after CMC Markets added CFD & Spread Bet trading on several additional cryptocurrencies. The revilement also comes right after it was announced that CMC Markets services would be coming to US Fang Plus. Remember though; these crypto spreads are commonly tighter than the individual coin itself.
Speaking to reporters during this announcement, The Deputy Chief Executive Officer at CMC Markets, David Fienberg stated: “Cryptocurrencies are moving back into focus for many traders, given the price action seen in the first few months of the year. These new indices allow CMC Markets‘ clients to gain exposure to a bundle of different coins while doing this as a single transaction means order minimums and trading costs are also kept low. Our proprietary Next Generation trading platform ensures that we can easily cater to client demand with innovative products like this and will continue to ensure we are offering access to instruments which are most appealing for today’s trading community.”