Betfair moves into financial markets with launch of Tradefair

Betfair, the online betting exchange, has formed a new business, Tradefair, to provide a range of financial products to the retail market.

Tradefair has been launched with a binaries trading exchange and a traditional spread betting offering.

In a statement, Betfair said Tradefair ‘aims to become the leading financial trading destination of choice offering its customers a range of traditional and exchange traded products’.

The exchange technology allows punters to set the price and be the market maker, provided they have the capital, enabling them to ‘drive the best price on a range of major financial markets’, the company added.

Betfair said the range of markets available on the exchange will grow over time, but already includes major indices, currency pairings and commodities markets.

‘We hope to have the same revolutionary impact on the financial market as we have had on the sports betting market,’ said Betfair chief executive David Yu.

Tradefair Spreads, provided via a white label agreement with London Capital Group Holdings PLC, is Tradefair’s traditional financial spread betting product.

Tags: betfair, betting exchange, tradefair

This entry was posted on Monday, January 7th, 2008 at 1:39 am and is filed under Industry Happenings. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.