CFD flow reporting changed: the submitting broker differs from the actual investor
Examine the shift from intermediary-based classification toward actual investor types.
Updated Nov 4, 2026
A shift to actual investor types
The FSC announced that from 2023-09-01, CFD-related stock trades would be reflected in trading statistics by actual investor type. Previously, personal trades placed through foreign intermediaries could be classified as foreign. The displayed date marks implementation.
Check classification before comparing time series
Before comparing old and new foreign flows, check that classifications match. Treat the category as a starting point for further evidence rather than equating it with beneficial ownership, motive or forced liquidation.
The announcement does not explain a particular sale
The implementation release alone identifies neither sellers nor liquidation volumes for a specific date or stock. Even with revised classifications and CFD balances, individual contracts and trading causes require separate checks.
Sources
- FSC — CFD transparency and investor-protection measures effective September 2023Accessed Nov 4, 2026