23/01/13

MF Global spreads acquisition

Leading financial and sports spread betting company Spreadex can confirm it has purchased the customer database of the former MF Global UK Spreads business.

The deal involves Spreadex purchasing the MF Global Spreads client list only. No money or debts are involved in the transaction.

The issue of the return of the client money remains the responsibility of KPMG, the special administrators of MF Global.

Jonathan Hufford, Managing Director of Spreadex, said: “This deal follows our successful acquisition of IG Index’s former sports division Extrabet’s client database in 2011 and we are confident we can carry out this transfer in the same professional and seamless manner.

“MF Global clients can now gain access to trade on the world’s markets at one of the longest-established spread betting firms in the industry, safe in the knowledge that their funds are fully protected in a segregated account under FSA client money regulations.

“Spreadex has a reputation as one of the more customer-focused, ‘traditional’ spread betting firms with a team of traders on hand just a phone call away.

“However, we also provide a state-of-the-art iPhone trading app and online platform, and clients can also access sports spread betting and fixed odds prices from the same account.”

Richard Heis, joint special administrator of MF Global UK, said: “Following initial interest in the Spreads business’ customer database, we are pleased to have now concluded a sale, as we continue to extract value from the assets.”

He added: “This is likely to be the last business related sale by MF Global UK, although there are still several shareholdings in exchanges to realise and work is ongoing to market those.”