BUSINESS

Pan Index set to shut down

TAGs: Mark Blandford, Pan Index

financial spread bettingAccording to an article by eGaming Review, the financial trading business Pan Index is scheduled to shut down by week’s end. Pan Index was established in Dublin in 2001 and became Ireland’s first real time online Financial Bookmaker offering commission-free and no Capital Gain Tax trading on International Financial Markets, Foreign Exchanges and Indices.

Pan Index was thought to have targeted the Scandinavian and South East Asian markets in the past but never really established itself in the UK market, which may have contributed to its demise.

Interestingly enough, Mark Blandford was reported to have a ‘material interest’ in Pan Index by eGaming Review. Blandford is the founder of Sportingbet and was instrumental in earning the company notoriety when the company earned the honour of AIM Transaction of the Year in 2005. Blandford himself left day-to-day operations in 2006, but Sportingbet continues to be active in various markets. However, it seems the company is gearing up to pull out of Turkey after releasing the following statement to the London Stock Exchange:

“The company confirms that, as part of its long-term strategy of increasing the proportion of its business mix derived from regulated markets, it is currently undertaking a review to evaluate its strategic options in relation to its Turkish language website business. This review may lead to an exit from this business.”

Comments

views and opinions expressed are those of the author and do not necessarily reflect those of CalvinAyre.com