London Capital signs 3-yr contract with PartyGaming

January 15, 2010Janice No Comments »

London Capital Group Holdings plc (LCG), the financial spread betting and derivatives provider, has today announced the launch of a new trading platform at following the signing of a three-year white label agreement with online gaming powerhouse PartyGaming plc.

The trading platform, which is already live, provides a wide range of financial trading products, covering a diverse array of markets ranging from stock indices and foreign exchange to commodities, oil and metals to UK, USA and international shares.

This is an interesting development which sees PartyMarkets migrating from the City Index stable to the London Capital Group family. It seems that the decision to leave CityIndex was taken sometime ago but it is not immediately clear as to what caused the move. Like Betfair and Paddy, is run on the latest trading platform and will be serviced by the London Capital Group group.

The deal with PartyGaming adds to London Capital Group’s existing white-label agreements with online betting exchange Betfair, Irish bookie Paddy Power and European brokerage company Saxo Bank.

Comments: A coup for London Capital Group; and a major one for that! As Mark Blandford, founder of Sportingbet rightly pointed out recently, the convergence of financial derivatives and gambling is the way to the future and has already started by the likes of PaddyPower and Victor Chandler launching their spread betting offerings. IG Index already offer binary betting products which means that the infrastructure is there for the recreational player of financial products.

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