Brokerage group Plus500 has launched trading in a new Indian CFD index product, via a partnership with BITA.
The broker now offers traders access to the BITA India Aggregated Exposure Index. This captures the performance of five US-listed ETFs that invest passively in Indian equities.
Those ETFs are equally weighted in the BITA index, which is rebalanced on a quarterly basis.
Plus500 traders can now access a CFD on that index, giving them the ability to trade with leverage on the performance of the Indian stock market.
BITA’s indices are set up so that CFD providers can both offer a price stream to trade against to clients, but also so that they can go and hedge in the underlying market if they need to.
The Indian index is likely structured using US ETFs as they are cheaper and easier to access than going to the Indian market directly.
BITA already works with a number of players in the CFD sector by creating custom index products for them.
Other known customers include eToro and XM.
