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One of the largest online gambling companies joins City Index

2/7/2008
PartyGaming Plc, one of the largest listed online gambling companies in the world, has announced the launch of PartyMarkets.com—a new platform for financial spread-betting and contracts for difference (CFDs), formed through an exclusive alliance with City Index Group, a leader in derivatives trading.

The terms of the alliance will see City Index develop an online trading platform to give PartyGaming customers access to financial markets around the globe. Through these they can trade CFDs in the UK, Europe and Asia. There is also the additional option of financial spread betting for UK residents too.

John O’Malia, group managing director at PartyGaming, gave his reaction to the alliance, saying: “Our agreement with City Index enables us to develop an exciting new group of products for our customers that will be exclusive in the online gaming market. Derivative trading on financial markets is already a multi-billion dollar market and we believe this will prove to be a popular addition for our customers.”

City Index chief executive Clive Cooke added: “We are delighted to be working with PartyGaming in opening up the financial markets to a wider audience, and are excited about developing what we expect will prove to be popular new products as part of the PartyMarkets offer over the coming months.”
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