> the latter aren't a market of their own but usually a pass-through mechanism for regulatory arbitrage. Out of curiosity, what do you mean by that ? So I get

> the latter aren't a market of their own but usually a pass-through mechanism for regulatory arbitrage. Out of curiosity, what do you mean by that ? So I get that CFD are not traded on a central exchange, and are custom investment product provided by some financial institution. So indeed not really a market. However, besides that they seems to be used by regular investor for, well, regular speculation.