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Betfair’s LMAX gains FSA approval to trade CFDs

16th August 2010 8:59 am GMT

Online betting exchange operator Betfair is to launch a multilateral trading facility for Contract for Differences (CFDs) via its subsidiary LMAX, in which Goldman Sachs has recently acquired a stake, following approval from the UK's Financial Services Authority (FSA).

LMAX Ltd. received FSA approval on July 27th to offer CFDs, spread betting and rolling spot forex contracts. The company was formed by Betfair in 2007 to provide online retail financial trading.

The company confirmed that immediately prior [...]

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