Phillip Futures meets demand for NDFs

  Phillip Futures has announced that it now offers the following Asian currencies for the trading of non-deliverable forwards (NDFs) - CNY, IDR, INR, KRW, MYR, PHP and TWD.

First Published by e-Forex News: April, 2012

Phillip Futures has announced that it now offers the following Asian currencies for the trading of non-deliverable forwards (NDFs) - CNY, IDR, INR, KRW, MYR, PHP and TWD. The demand for NDFs, which are net cash settled forwards on regulated currencies, arises out of regulatory, liquidity and risks in the underlying Asian currencies. As a leading brokerage in Asia, Phillip Futures sees an increased interest amongst investors who trade Asian NDFs to gain access to interest yields, namely the institutions that trade NDFs for speculative flows, corporate treasuries that use NDFs for hedging purposes and other traders who seek arbitrage opportunities.