04/05/2005 IG GRoup opens the London Markets
4 May 2005
IG Group opens the London Markets
IG is a fast growing provider of speculative investment products to retail and institutional clients around the world. The Group's core business is spread betting, both on financial markets and on sporting, entertainment and political events. The Group's other products and services include contracts for differences ("CFDs"), foreign exchange trading and binary betting. The Group has two core brands - IG, under which IG Index and IG Markets operate, and binarybet.com(tm). More than 85% of the Group's client transactions are executed online.
IG was founded in the UK in 1974 and commenced trading in Australia in 2002. The Group has offices in London and Melbourne and employs approximately 270 people, over 250 of whom are based in London.
IG's IPO was priced at 120p. Chairman Jonathan Davie commented that, "The IPO received an excellent response from major domestic and international institutions as well as from clients and staff. We are delighted with the outcome and look forward to progressing the next phase of the Group's development."