Spreadex announced in a press release earlier in the week that they had acquired Cantor Index’s non-equities client base. The news comes after the St Albans-based spread betting company reported pre-tax profits of £11.5 million. Cantor Index will continue to operate as an equity-only trading platform, however the acquisition will come as a knock to their position in an evermore competitive financial spread betting market.
Acquisitions are nothing new to Spreadex, last year the company purchased the client-base of MF Global and ShortsandLongs.com; Managing Director, Jonathan Hufford stated that “these are exciting times for Spreadex and we have other plans to further expand the company into 2014 and beyond.”
This move will see Spreadex eat up some more market share, however the company is still a long way off the industry leader, IG Index, who currently dominate with over 40% of the client-base.