GVC Group, the FTSE 100 gambling giant, has acquired Sigma Trading, the contracts-for-difference arm of London-based trading firm Sigma Broking, according to sources.

GVC, which owns bookmakers Ladbrokes and Coral, completed the acquisition of Sigma Trading in recent weeks, according to sources who said about a dozen staff have transferred to GVC from Sigma following the completion of the trade. The value of the transaction was not known by the sources.

A spokesperson for GVC Group declined to comment. A spokesman for Sigma Broking declined to comment.

The sale of Sigma Trading to the FTSE 100-listed gambling group marks the first transaction at Sigma by chief executive David Mudie since he took over the London-based trading firm in February 2017.

Mudie previously ran the European arm of US commodities broker RJ O’Brien where he completed in March 2015 the acquisition of the clearing arm of Kyte Group, a British brokerage firm, as first reported by FOW.

The Sigma Broking chief also hired in the first half of last year three former RJO brokers including John Steptoe and Jeremy Hopkins, who worked together for more than 15 years at broking firms Icap and Refco.

Sigma Trading was incorporated in February 2015 while Sigma Broking was founded in 2008 by former Liffe floor trader Matthew Kent, according to the Companies House website.

GVC reported on September 13 strong financial performance for the first half of 2018, with chief executive Kenneth Alexander citing “a positive World Cup” for an 8% rise in pro forma revenue to £1.69bn and a 17% increase in pro forma operating profit to £278m.

Alexander said on September 13: “Our strategy to build scale and diversification through organic growth and acquisition is more relevant today than ever.”

GVC completed the acquisition of Ladbrokes Coral Group, the largest British bookmaker, on March 28 this year in a deal worth up to £4bn.