IG Group Holdings plc ("IG", "the Group", "the Company"), a global leader in online trading, today issues an update ahead of entering its close period following the end of the first half of the financial year ending 31 May 2019 ("FY19").
Revenue in the first half is expected to be around 6% lower than in the same period in FY18, which was a record for IG.
The ESMA product intervention measures came into effect during the period. The prohibition on offering binary options to retail clients became effective from 2 July 2018 and the restrictions relating to the provision of CFDs to retail clients were effective from 1 August 2018. Group revenue in the four month period since all the measures came into effect is expected to be around 10% lower than in the same period a year ago. Revenue in that four month period in the ESMA region (UK and EU) is expected to be around 20% lower, with revenue from the Group's business in APAC and other non-ESMA region countries expected to be around 9% higher. Both of these figures are underlying changes, adjusting for the 1,200 clients who previously contracted with a UK entity who are now trading with an entity outside the ESMA region.
https://www.investegate.co.uk/ig-group- ... 00072992J/