International edition
September 27, 2020

The firm has a 73.5% shareholding in LMAX

Betfair subsidiary LMAX announces new trading platform

(UK).- Betfair Group announced that LMAX, its FSA-authorised subsidiary, has launched its exchange platform for online retail financial trading of contracts for difference (CFDs) and foreign exchange contracts. LMAX will initially allow customers to trade CFDs in market indices, fixed income instruments, commodities and FX.

O

ther asset classes will be added to the platform in due course.

LMAX was established by Betfair in 2007 to deploy some of the technology and intellectual property underlying the Group’s Exchange Platform in the online retail financial trading sector. Betfair’s Betting Exchange has fundamentally changed the sports betting market since its launch in 2000 by allowing its customers to bet at odds sought by themselves or offered by other customers, and by offering customers better pricing and more choice and flexibility.

LMAX aims to replicate Betfair’s disruptive effect on the sports betting market by deploying a similar technology platform into the market for online retail trading of financial instruments. Betfair has a 73.5% shareholding in LMAX.

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