TES Thames Water 26

RNS Number:7604W
TradingSports Exchange Systems PLC
22 March 2004


                                                                  22 March, 2004





TradingSports Exchange Systems plc



TradingSports goes live with Binexx.com



TradingSports Exchange Systems plc ("TradingSports"), the person-to-person 
("P2P") betting exchange systems provider, is pleased to announce the launch of
www.binexx.com, the financial betting exchange of City Index ("City Index").
One of the pioneers in the modern development of financial spread betting, City
Index, launches the first ever binary betting exchange.  Owned by Intercapital
plc, City Index boasts tight user-controlled spreads and low commission on its
new exchange site.



Martin Slaney of City Index commented:

"The launch of Binexx.com is an exciting venture for the market.  We are proud
to launch the first binary betting exchange and the TradingSports platform was
the optimum vehicle for our product."



This marks a massive milestone for TradingSports as this is its first contract
with a major FSA regulated City firm for the provision of a P2P betting exchange
system geared towards the financial betting market.  Binexx.com is unique to the
market as it allows the client to control the price, to close out of a position
without the event occurring and bettors are always aware of the maximum profit/
loss.



Joe Tighe, Chief Executive to TradingSports, commented:



"This deal marks a significant, ground-breaking step forward for TradingSports
and will highlight the potential for the TradingSports betting exchange system
in the financial betting arena.



It also demonstrates the flexibility of our technology offering in that it can
be adapted to a multiple of markets, be it sports, financial or otherwise".





For further information, please contact:


TradingSports                                            T: +44 (0) 20 8780 6000
Joe Tighe, Chief Executive
Ken Mulvany, Director of Investor Relations

Buchanan Communications                                  T: +44 (0) 20 7466 5000
Bobby Morse / James Strong



Background to City Index:

Established in 1983, City Index is one of the leading financial spread betting
and CFD trading sites.  City Index offers a comprehensive range of spread
betting products across the global financial markets. These include major
indices, currencies, commodities and individual equities quoted on leading
exchanges, and their associated options. They are regulated by FSA and were
awarded the Shares Magazine UK Equity Awards "Best Spread Betting Service" in
both 2001 & 2002 for excellence in customer service.



Background to TradingSports:

Founded in August 2000 and floated on the Alternative Investment Market of the
London Stock Exchange in May 2003, TradingSports is a P2P betting exchange
system provider. It offers a turnkey betting exchange solution to sports and
financial betting companies, through which individuals bet on live events at any
point before and during the event.



The Group applies the principles of a financial exchange by acting as a clearing
house for companies offering P2P betting from any jurisdiction in the world
where it is lawfulto do so. Its platform is aimed at the business-to-business
market and acts as an aggregator of liquidity from different betting companies.
TradingSports recognises that liquidity is an important component to maximise
the success of P2P betting. By providing an exchange service with several
participating members, thereby creating a significant user base, TradingSports'
services help to ensure that the potential number of people with whom to bet is
far greater than could be provided by one individual bookmaker.



TradingSports itself has no direct relationship with bettors, does not handle
money of individual bettors and is not exposed to the gambling risk associated
with a bookmaker, as it does not risk its own capital.






  This information is provided by RNS
            The company news service from the London Stock Exchange
END

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