Capital Spreads to incorporate PaddyPowerTrader clients
Written by Will Peters Thursday, 10 March 2011 15:55Still no clear insight into why Paddy Power have chosen to close their spread betting partnership.
London Capital Group, the owner of spread betting company Capital Spreads, has said it would look to assimilate clients from the soon to be closed PaddyPowerTrader into their own brand.
PaddyPowerTrader is a white label of London Capital Groups, so the transition for spread betting clients should be an easy one.
Last month Paddy Power said it intended to withdraw from the spread betting sector altogether and shutdown its PaddyPowerTrader brand following a review of its white label deal with London Capital Group.
In a statement London Capital Group said it was in negotiations with Paddy Power to agree a “mutually beneficial termination agreement”.
It added PaddyPowerTrader customers would be invited to transfer to LCG's Capital Spreads brand at a date to be agreed and that as a result of this transfer, LCG would “continue to receive revenue” from these customers.
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