First Prudential Markets, commonly known as "FPM" or "FPMarkets" is an Australian based investment company offering over-the-counter (OTC) and exchange traded derivative products including direct market access (DMA) Contracts-For-Difference (CFDs), foreign exchange (Forex) and global futures contracts to its a retail and professional client base. Derivatives are Financial instruments whose values depend on the value of other underlying financial instruments A contract for difference (or CFD) is a contract between two parties typically described as "buyer" and "seller" stipulating that the seller will pay to In Finance, a futures contract is a standardized Contract, traded on a Futures exchange, to buy or sell a certain Underlying instrument First Prudential Markets is a market leading DMA CFD and Forex provider.
In December 2007 FPM became a member of the Australian Securities Exchange (ASX) and introduced the world’s first exchange traded Contracts for Difference (ASX CFDs) to its product listing. The Australian Securities Exchange ( ASX) is the primary Stock exchange in Australia.
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International Expansion
In January 2008, First Prudential Markets European headquarters were established in the UK providing a springboard to offer CFDs, Forex, futures and spread betting across Europe.
Clients
The Group's client base is dominated by retail clients, particularly in its Direct Market Access (DMA)CFD business.
Operations
First Prudential Markets offers a wide range of financial products and services to its retail and corporate customers. In addition to its core business of Contracts-For-Difference (CFDs), First Prudential Markets other principal products and services include:
- Futures
- Spread Bet
- Foreign Exchange (Forex)
- Funds
- Bonds
The range of underlying markets currently includes:
- Australian and international shares
- Global stock indices
- FX
- Metals
- Energies
- Commodities
- Options
- Interest rates
Online Dealing
In 2005 First Prudential Markets introduced webIRESS, a web-based solution developed by Iress Market Technology enabling FPM to offer online dealing to its retail and professional client base. A contract for difference (or CFD) is a contract between two parties typically described as "buyer" and "seller" stipulating that the seller will pay to First Prudential Markets client base increased significantly with the introduction of online dealing and now more than 90% of transactions are executed online.
Regulation
First Prudential Markets is regulated by the Australian Securities and Investments Commission (ASIC) in Australia.
External links
- First Prudential Markets (FPM) Homepage
- Iress Market Technology Homepage
- Australian Securities Exchange Homepage
- Australian Securities and Investments Commission Homepage