Betfair Looks to Compete With London Stock Exchange
Europe’s largest betting exchange, Betfair (see website here), is looking to launch a trading platform in London later this year that would compete with that city’s own stock exchange.
From City AM:
Following approval from the FSA at the end of July, developers are working to complete the platform based on Betfair’s existing gambling programmes, funded by start-up capital from Betfair. The multilateral trading facility will allow investors to exchange contracts for difference, which provide exposure to a company without owning the shares.
Goldman Sachs recently bought a 12.5 per cent stake in the LMAX venture for an undisclosed sum, though Betfair remains the majority owner, that media outlet reported.
Aaron Goldstein, Gambling911.com
