Compagnie Financière Tradition has sold its TradIndex spread betting and CFD operation to it management. The broker announced as far back as last December that it was looking to offload the subsidiary, founded in 2002, as it was no longer seen as part of its core business. The spread better, which mainly caters for the UK market, has been acquired for an undisclosed sum by founder Robin Houldsworth and Peter Shalson. Houldsworth remains chief executive of Tradition UK.
In a statement, Shalson said: “We are delighted with our investment. TradIndex is a truly outstanding CFD and spread betting company that is widely respected within the industry. We look forward to developing the business by continuing to improve the quality and range of products and services offered to our clients.”