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GAIN Capital Partners With London Capital Group
Leading UK-based Broker Rolls Out White Label Version of GAIN's Trading Platform for European Market; GAIN to Support Scandinavian Currencies
Warren, NJ - August 5, 2003 - GAIN Capital, Inc. a registered FCM and the premier independent provider of foreign exchange (forex) services, including direct-access trading and asset management, today announced a liquidity and technology partnership with London Capital Group (LCG), a London-based broker specializing in electronic exchange-based markets. The partnership marks LCG's first entry into the Forex markets.
LCG is now offering 24-hour forex trading services through a newly created division, LC Forex (www.lcforex.com). In addition to a white label version of GAIN's proprietary online forex trading platform, LC Forex also utilizes GAIN's liquidity, execution and back office services.
"LCG is an excellent fit for GAIN's white label program," said Glenn Stevens, Managing Director at GAIN Capital. "They have a complementary business in futures, options and equities, an existing customer base of professional and individual traders, and a strong presence in the UK and Europe."
GAIN currently provides 24-hour liquidity in 14 currency pairs, and is now adding support for four new Scandinavian currency pairs at the request of LC Forex: Swedish Krona and the Norwegian Kroner against the US dollar and the Euro (USD/SEK, EUR/SEK, USD/NOK, EUR/NOK). The expected roll out date for the new currency pairs is early September.
"By partnering with an established firm such as GAIN, we are able to offer UK and European investors a professional caliber trading platform, as well as excellent liquidity and pricing," commented Tim Finch, Managing Director at LC Forex. "Another important factor in our decision to work with GAIN was their ability to quickly add support for Scandinavian currencies on the platform. This will be an important addition for our European customer base."
To date, GAIN has implemented white label partnerships with more than 30 firms. "Because GAIN's trading platform is developed and managed in-house, we are able to customize many aspects of the platform to meet the needs of our white label partners," continued Glenn Stevens. "This is a major advantage for many firms, as they have specific needs that will enable them to more effectively market the service to their local customer base. For example, by working cooperatively with other white label partners, the trading platform is now available in six foreign languages and we also support both US Dollar-based and Yen-based margin trading."
About GAIN Capital
GAIN Capital (www.gaincapital.com) offers direct access trading and asset management services for the global Foreign Exchange (FX) markets. GAIN Capital is a registered Futures Commission Merchant (FCM), regulated by the Commodity Futures Trading Commission (CFTC), and is a member of the National Futures Association. GAIN revolutionized the FX market by being the first online FX trading firm to allow clients to deal instantaneously from live, streaming quotes.
A recognized market leader, GAIN services clients from more than 80 countries around the globe including fund managers, Commodity Trading Advisors (CTAs), and individual traders. The firm achieved record trade volume in 2002, transacting over $200 billion.
About London Capital Group
The London Capital Group (www.londoncapitalgroup.co.uk) is one of Europe's leading independent financial service providers, offering investors trading and execution services for derivatives, equities and options. The company currently employs in excess of 80 brokers, traders, managers, risk control and IT support staff and in 2002 turned over in excess of 30 million contracts across all markets.
London Capital Group, Ltd is regulated by the Financial Services Authority (FSA)
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