PADDY POWER HEDGES BETS ON TRADING BUSINESS


Paddy Power is set to terminate the 'white-label' agreement behind its PaddyPowerTrader.com financial spreadbetting business


LONDON CAPITAL GROUP HOLDINGS has announced that Paddy Power is set to terminate the 'white-label' agreement behind its PaddyPowerTrader.com financial spreadbetting business.

The news follows last week's announcement by Paddy Power that it was reviewing the service, which represents 17 percent of London Capital Group's active clients. The Group stated that its 'white-label' model allows organisations to market and profit from financial spreadbetting services as it provides the trading platform, prices and expertise to give clients 'access to one of the most robust trading platforms in the industry'.

"As with all 'white-label' partners, the underlying client is a client of London Capital Group and London Capital Group pays the 'white-label' partner for its client acquisition activities," read a statement from London Capital Group.

"London Capital Group and Paddy Power are now in negotiations to agree a mutually beneficial termination agreement. PaddyPowerTrader.com customers will be invited to transfer to London Capital Group's CapitalSpreads.com brand at a date to be agreed. As a result of this transfer, London Capital Group will continue to receive revenue from these customers."
 
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