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Spread Betting Market News
| Tradefair owner to launch trading system, Goldman buys in | | Print | |
| Written by Will Peters | |
| Monday, 16 August 2010 11:41 | |
Betfair, the owners of financial spread betting platform Tradefair, are reportedly developing a trading platform that is set to compete with the London Stock Exchange.
However the new platform will be unique and cater to more trading products. Backing the development is investment bank Goldman Sachs Group (NYSE:GS) who have bought a 12.5 percent stake according to the Sunday Times. The exchange, called LMAX, will allow users to trade “contracts of difference” and has been approved by the Financial Services Authority, the London-based newspaper said. Betfair declined to comment on LMAX ahead of an expected initial public offering later this year, the newspaper said. The platform will be one of a growing number of junior exchanges in the City that have sprung up since pan-European regulation opened the market to competition in 2007. American exchange operator NYSE Euronext launched a London branch in July, aimed at overseas investors who would benefit from a “much broader, more diverse and more liquid investor pool than on many of our competitors”. Multilateral trading facilities such as Chi-X and BATS have flourished in recent years as profits at the mainstream exchange struggled. The LSE cut 13 per cent of its staff in May in a bid to minimise costs. The group took a majority share in the Turquoise multilateral trading facility in February, alongside Barclays, Nomura and JP Morgan. |
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| Last Updated on Monday, 16 August 2010 13:27 |
Spread Betting Lessons - Cut out the emotion!
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Spread betting at a glance
- Spread betting is a financial product that allows retail and professional investors access to the widest possible number and types of exchange traded instruments.
- The spread betting company that you trade through is the market maker, the trader does not actually take ownership of any underlying product. Hence, most jurisdictions do not charge stamp duty on any gains.
- The notion that you don't actually own the product ensures spread betting platforms are able to almost instantaneously execute orders on behalf of their client.
- Spread betting is a leverage product, your money is able to realise you impressive gains as your earnings come in multiples of the actual change in the underlying product that you are trading.
- This is of course where spread betting can also go spectacularly wrong. Losses can be huge, therefore we advise those that are spread betting, or are looking to go into spread betting, to enter each trade with a well thought out strategy. This also means setting a pre-determined stop loss so that losses are cut at a manageable level.
- This website is here to offer more insight into this fascinating trading instrument.