AXIORY Japan launches Battle CFD pair-trading product for stock and index pairs
AXIORY announced on 30 September 2024 that it has begun offering Battle CFD, a product that pairs two stock indices or two individual equities in a single trade, citing NASDAQ versus NIKKEI and Microsoft versus Apple as examples. A position in one leg is matched by the opposite position in the other, so the trade tracks their relative performance.
View original sourceHow the paired product is structured
AXIORY describes Battle CFD as a single instrument built from two financial products — either stock indices or individual shares. Taking a buy or sell position in one name simultaneously establishes the reverse position in the other, so the trade is designed to capture the relative price movement between the two rather than the direction of either alone. The examples given in the notice are an index pair (NASDAQ versus NIKKEI) and a single-stock pair (Microsoft versus Apple); the announcement does not set out the full list of pairs available.
Margin and the company's stated advantages
According to AXIORY, margin is required once per pair rather than once per leg, similar to an FX pair, and the company says this makes margin use more efficient than trading the two instruments separately. AXIORY further states that the structure allows traders to respond quickly to market moves, that listed companies' annual earnings reports can serve as an indicator when judging relative value, and that the product is simpler to manage than conventional pair trading. These are the company's own characterisations of the product rather than independently verified outcomes.
What the notice does not specify
The announcement does not disclose leverage, spreads, commissions, minimum trade sizes, contract specifications, the platform on which Battle CFD is available, or which AXIORY entity, account types and client jurisdictions the product covers. The notice appeared on AXIORY's Japanese-language site and states that handling of the product has already begun as of the 30 September 2024 publication date, with no separate start date given.
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