LONDON (HedgeWorld.com) - The Financial Services Authority is introducing stronger disclosure rules on contract for difference derivative positions in a move to boost market transparency and efficiency. The regulator is to publish draft rules in September with a deadline of February 2009 for the final rules.

It is estimated that up to 30% of equity transactions in the U.K. market use CFDs, which give economic exposure to a stock without physically owning it. The derivative instrument lets hedge funds and other investors control shares but without paying the 0.5% stamp tax that is levied on all British stock transactions.

"Our goal is to provide an effective and proportionate disclosure ...

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