BUSINESS

LCG Launches Aussie CFD service

TAGs: Australian Securities and Investments Commissions, Capital Spreads, London Capital Group

London Capital Group Holdings Plc, one of the leading online financial spread betting and trading companies, has now launched a contracts-for-difference (CFD) trading platform CapitalSpreads.com that will be operating from Sydney, Australia.

The new platform will allow clients to trade CFD’s on global markets such as indices, shares, currencies and foreign exchange. With the first hurdle cleared in gaining regulatory status with the Australian Securities and Investments Commissions, now all LCG has to worry about is finding a way to compete against the likes of IG Index, CMC Markets and City Index for market share.

Simon Denham, CEO, commented,”We have worked hard to develop our international offering and continue to seek expansion opportunities overseas as well as in the UK. We believe that there is a great deal of opportunity for Capital CFDs in Australia and South East Asia via our own brand and via strategic partnerships – and we are actively seeking partnerships with financial services and gaming companies in that part of the world.”

LCG provides spread betting products on financial markets to retail customers through Capital Spreads and to professional traders through ProSpreads.com. LCG also offers market-leading foreign exchange trading and derivatives broking services to institutional and professional clients. The company has seen its revenue increase by 61% in the first half of 2010 compared with same period last year.

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