Sporting Index Group

Sporting Index Group

January 10, 2011 12:11 ET

Redwood Appointed Chairman of the Sporting Index Group

LONDON, UNITED KINGDOM--(Marketwire - Jan. 10, 2011) - Mark Redwood, the highly respected former senior Thomson Reuters executive, has been appointed the Non-Executive Chairman of the Sporting Index Group.

Redwood, 50, headed up Thomson Reuters' sales and trading activities until stepping down at the end of December. He replaces Richard Glynn who left in 2010.

Backed by leading European private equity investor HgCapital, the Sporting Index Group has evolved from its origins as the market-leading B2C sports spread betting business. Today the Group is increasingly active in the B2B arena, supplying in-play betting odds to international betting and gaming operators under its Sporting Solutions brand. Big name bookmakers already signed up to the burgeoning service include William Hill, PartyGaming, the Tote and Skybet.

The appointment of Redwood is further evidence of the Sporting Index Group's ambitions in the wholesale data services space. Marrying technology and trading expertise, the Group's subsidiary Sporting Solutions is rolling out an ever more comprehensive suite of products to service the needs of a maturing sports betting market.

Warren Murphy, CEO of the Sporting Index Group, said: "We believe the sports betting landscape is rapidly changing and is mirroring the way the financial data services industry has evolved. We deliberately sought to bring in someone with a strong financial technology background.

"From that perspective, Mark coming on board is a real coup for us. His unrivalled expertise in developing and commercialising financial trading data and transactional systems will further strengthen our business as we continue to position the Sporting Index Group at the forefront of the sports betting industry."

Commenting on his appointment, Redwood said: "I can see so many parallels between the financial and regulated sports betting markets. If Betfair is the exchange of the sports betting world, Sporting Index is the market maker and data provider.

"I am genuinely excited by the prospect of working with the management team to help them further leverage their renowned trading skills and world class technologies, pioneering a range of services for modern sportsbooks."

About Mark Redwood

Until the end of December 2010 Mark Redwood was President of Sales & Trading at Thomson Reuters, delivering financial information, news, collaboration and transactions services to trading floors across the globe. From 2006 he was CEO of Reuters Transaction Services and also a non-executive director at Tradeweb, the leading over-the-counter, online multi-asset class marketplace.

Core services under Mark's responsibility included Thomson Reuters Eikon, Reuters 3000 Xtra, Matching, Dealing and the Reuters Trading suite. With revenues of $3.8 billion Sales & Trading is the largest business unit in the Markets Division of Thomson Reuters.

Mark was previously Global Head of Sales & Trading, Reuters. He joined Reuters in December 2002 following its acquisition of AVT Technologies Ltd, a pioneer in foreign exchange transaction technology. Between 2003 and 2006 Mark was responsible for Reuters transactions services.

AVT was founded by Mark in 1989. As CEO of AVT, Mark built a blue-chip customer base that at the time included leading global financial institutions such as ABN AMRO, Bank of New York, Dresdner Kleinwort Wasserstein, JP Morgan and UBS.

Mark has a First Class Honours Degree in Economics and Accounting from Manchester University. He has considerable experience in the financial markets having worked at JP Morgan in London from 1983 to 1989, where he held a number of trading positions in Fixed Income and Exchange Traded Derivatives.

About the Sporting Index Group

The Sporting Index Group is best known as the world's largest sports spread betting business, offering the widest range of markets and taking some of the largest bets on sporting events around the world.

The Group has 180 staff, all based at its London HQ. It is privately owned and is the undisputed world leader in sports spread betting, dominating the global market with an estimated 80%+ market share. Today it makes thousands of markets on upwards of 500 events every week, offering the sports fan the opportunity to bet on a wide variety of sports, political and showbiz events, as well as on a portfolio of unique virtual games. Clients transact via its websites, award winning mobile phone applications, and a 24/7 voice telephony service. Sporting Index's B2C business continues to grow in the face of a fiercely competitive online betting market. 

At the heart of the business is a world class trading, modelling and liability management capability that is widely acknowledged as amongst the best in the global betting market. The Group combines the latest technology with unrivalled trader expertise to service its core sports spread betting clients as well as an increasing number of wholesale customers who rely on the company's fixed-odds in-play pricing data to underpin their own sportsbook operations via the Sporting Solutions brand. This has quickly established itself as a leading data provider with a number of flagship betting brands signed up.

Sporting Index is authorised and regulated in the UK by the Financial Services Authority and the Gambling Commission.

Contact Information

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