UK broker London Capital Group (LCG) is to distribute a white label version of Gain Capital's proprietary trading platform to users of its new foreign exchange trading service, LC Forex.
In addition to the platform, LC Forex is also using Gain Capital's liquidity, execution and back office services.
Gain Capital 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. The platform will now support Swedish Krona and the Norwegian Kroner against the US dollar and the euro. The expected roll out date for the new currency pairs is early September.
Tim Finch, managing director, LC Forex, says by partnering with Gain, the firm can offer UK and European investors a professional calibre trading platform as well as excellent liquidity and pricing.
To date, Gain has implemented white label partnerships with more than 30 firms. Glenn Stevens, managing director, Gain Capital, says because the platform is developed in-house, it can be customised to meet the needs of white label partners: "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."