3rd of December 2011 Author: Glo Wood
Irish spread betting company sold
An announcement came this week that UK spread betting firm Gekko Global Markets has acquired its Irish colleague Delta Index, for an undisclosed amount.
The Irish spread betting company was founded back in 2001 by Conor O'Neill and Michael O'Shea, and it will bring GGM some 4,000 accounts, which will now be regulated by the UK Financial Services Authority (FSA).
According to a GGM spokesman, the Delta Index brand will be retained, and it will work on revenue share basis with GGM. He also added that customers will not be affected by the move, but that there will be some redundancies and staff moves into the UK.
On the other side, a Delta Index spokesman stated: 'The partnership with GGM will deliver an enhanced range of services to clients including a 24 hour dealing service, more competitive trading costs, improved trade execution and enhanced trading technology.'
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