Spread betting has been a very important product for brokers that are operating in the UK and Ireland and FCA-regulated Hantec Markets has just committed to expanding its offering. The company has announced that it is venturing into the space late last week, just as volatility across multiple asset classes has been increasingly high in January and February.
With the product being tailored to the UK and Irish markets specifically, Hantec is planning to leverage its existing partnerships to market the offering. The firm’s sponsor partnership with West Ham United FC is the main marketing channel which the firm plans to use to onboard clients to its new offering.
Commenting to Finance Magnates, a company spokesperson said: “We’re a niche firm that we like to think offers a better client experience and service than some of the big companies. However, since we have become the FX Partner to West Ham United FC there has been a lot more interest in the products we can offer our clients.”
“Although we have a global client base, to appeal more to UK residents was always part of the West Ham United FC’s Partnership project, and we feel spread betting will help us achieve this,” the spokesperson elaborated.
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Popular Demand Yields New Product
The spread betting product from Hantec comes as the firm responds to increasing demand on part of clients. The main differentiating factor for the new offering is that clients will be receiving ‘pounds per point’ movement.
The firm used Gold-i technology to deliver its product offering to market, leveraging its existing tech and combining it with the infrastructure that one of the leading technology providers in the FX industry is offering.
“The technology is now much more readily available that it had been a few years previously, but there’s still a considerable amount of integration work required in order to offer the product. Finding a liquidity provider of the instruments you want to offer and sufficient bridge capabilities in order to offer them are instrumental,” the company’s spokesperson elaborated.
The product will only be available to clients based in the UK and Ireland because as it stands, these countries are the only ones that can take advantage of the current tax status of spread betting.