Tradefair and LCG end up partnership
Tradefair Spreads, the spreadbetting subsidiary of betting exchange, casino and sportsbook operator Betfair, is to terminate its white label partnership with broker London Capital Group (LCG) – effective from December 2013.
After the completion of the termination, Tradefair will then work exclusively with GFT Markets – with which it operates a white label of its DealBook 360 trading platform. The partnership between LCG and Tradefair began in 2007 when Betfair launched the spread betting subsiadary using technology and liquidity from LCG.
LCG’s white label model enables companies to market and profit from financial spread betting services, with LCG providing a trading platform and support services. LCG then pays the white label partner for its client acquisition activities.
According to LCG, of the £11.7m (US$17.8m/€13.8m) it posted in total gross profits for the six month to June 30 this year, profits from clients introduced by Tradefair accounted for 5.1% (£600,000).