The .CFD new gTLD

THE MISSION AND PURPOSE OF THE NEW RESTRICTED .CFD gTLD IS TO BENEFIT INTERNET USERS BY ENSURING INCREASED TRUST, USER CONFIDENCE AND UTILITY THROUGH PROVIDING BETTER PRODUCT KNOWLEDGE AND THE ELIMINATION OF USER CONFUSION.

The .cfd gTLD will create a new generation gTLD serving the interests of end users by providing an authoritative Internet space where information about contracts for difference trading (CFDs), services and resources of the IG Group Holdings plc (IG Group). .cfd will communicate some key information on CFD trading, how to securely trade in CFDs and offer internet users the possibility to trade. The .cfd gTLD will be closely controlled by IG Group. The majority of the anticipated domain name registrations in.cfd will be used in the promotion and communication of CFDs as a transparent and viable investment opportunity offered by IG Group, and more in particular its brand IG Markets, its affiliates and partners that are associated with the product. A subset of domain names has the potential to be created for communication and marketing purposes, with internet users assured of the legitimacy of the product offered by IG Group, IG Markets, its affiliates and partners. Second and third level domains will possibly include geographical names to provide relevant information to customers in specific regions.

IG Group was established in 1974, has its headquarters in London and operates globally with 14 global offices in several European countries, Japan, Singapore and Australia. IG Group is listed on the London Stock Exchange, is a member of the FTSE 250 and has a market capital value of GBP 1.7 billion (as at October 2011). IG Group is a world-leading provider of financial derivatives., divided into several individual brands that cater the needs of its clients. IG Markets, as part of the IG Group, offers CFDs to a global audience. and has accumulated numerous awards as a CFD provider over the past years including Winner of the Smart Investor Blue Ribbon award for 2011 (recommended for 2010, 2009 and 2008), Winner of TheBull ‘Stockies’ Awards in 2011, 2010 and 2009, Canstar Cannex 5 star ratings for 2009. IG Group has currently secured several domain names such as cfddeal.co.uk, cfddeal.com, cfdonline.co.jp, cfds.co.nz, cfdtradingguide.com to offer secure trading in CFDs to internet users. .cfd gTLD will increase customers’ trust in CFDs as a transparent and viable investment product offered in a secure environment by a world-leading provider.. The .cfd gTLD will allow IG Group to provide CFD resources and potential services to online customers in a secure, interactive and authoritative internet space.

New products and investment opportunities are increasingly offered over the internet, presenting customers with a wider choice of easy and accessible investment products. As a result, both businesses and end users can benefit from ease of interaction and a wider range of choices with lower transaction costs. However, the development in this arena in the current domain name system has exposed both businesses and consumers to confusion in an often crowded and bewildering marketplace and increased criminal activities over the internet, including data breach, hacking and phishing. These sophisticated criminal activities cause reputational damage to businesses as internet users lose consumer confidence and trust with the businesses targeted by such criminal activities. The .cfd gTLD will facilitate greater trust and assurance from internet users, potentially offering CFD services and reliable educational content relating to CFD trading in a secure online environment provided by IG Group, whilst still allowing convenient and efficient interaction.

IG Group’s mission and purpose of the proposed new gTLD share ICANN’s initiatives to promote public interest. IG Group is committed to contribute towards achieving such initiatives in line with ICANN’s Affirmation of Commitments, which includes:
  • consumer trust: the .cfd gTLD registry will be operated in a centralised manner with a restrictive registration policy. Registration of domain names will only be available to IG Group and its affiliate entities, at the initial stage, which will provide added consumer trust that .cfd domain names are trustworthy, offering consumer confidence in service delivery via a trusted provider in the market. As .cfd domain names are subject to registration standards, policies and procedures under IG Group’s control, this eliminates the possibility of malicious conduct within the .cfd domain space;
  • competition: the proposed new gTLD is not directly intended to instigate competition and consumer choice at the level of registration of domain names. Instead it is anticipated to contribute to ICANN’s initiatives to promote public interest through its operation focused on promoting consumer trust. Increased trust in .cfd will drive existing and new top level domain (TLD) registry operators to make improvements in mechanisms to improve consumer trust of their TLDs; and
  • consumer choice: the proposed new gTLD will enable user-driven improvements and innovations assisting IG Group’s efforts to inform consumers regarding CFDs as a safe and secure trading instrument through its ability to create new second and third level domain names on demand. These names will provide the consumers with more informed choices for trading CFDs and interacting with IG Group. As IG Group has effective control over the registration and use of domain names under .cfd domain space, this will also contribute towards general service innovations on the internet as a new outlet for improved services.
Given the restricted nature of.cfd, the projected number of registration is likely to be limited. It is anticipated that only about 5 – 15 domain names will be registered in the first few years. However, over the next few years, the number of registrations is likely to increase as IG Group develops and implements new services and marketing campaigns.

As the new .cfd gTLD expands and evolves, IG Group may consider offering the use of second level domain names to its core customers to login and use IG Group’s trading tools and trading platforms to trade CFDs in a secure environment at a later date. In this endeavour, IG Group will continue to comply with all operational, technical and policy requirements, as well as maintaining consumer trust and the stability of the internet. IG Group will keep ICANN reasonably informed of any material developments relating to .cfd gTLD including compliance with the continued operations instrument obligations as set out in Specification 8 of the Registry Agreement.

IG Group intends to create relevant domain names for use including brand, services and sub typesin the second or third level domain names. In accordance with registration policies and the proposed measures for protection of geographic names as outlined in response to Question 22, IG Group will possibly use geographic names to localise its websites in the countries in which it operates (currently 15 countries). The use of geographic names is intended to connect internet users with relevant information as applicable to the territory and comply with required rules and regulations in the national territory.

Further, IG Group has existing domain names containing the word “CFD” in the following spaces:
  • gTLDs: cfddeal.com, cfdtradingguide,com, idealcfd.com, idealcfds.com, igcfd.com
  • ccTLDs: cfddeal.co.uk, cfdonline.co.jp, cfds.co.nz, idealcfd.co.za, idealcfds.co.uk, idealcfds.co.za, igcfd.co.uk, 
Although the word “CFD” may have several meanings, IG Group will use.cfd only in respect of trading in financial derivatives, and more in particular CFD, as a flexible alternative for other types of trading. IG Group will not utilize the proposed gTLD to support or conduct business in other industries where the word “CFD” is used such as in conjunction to fluid mechanics, involving fluid flows.
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Jovenet Consulting,
Aug 17, 2016, 9:13 AM