Nadex receives change of regu

RNS Number : 5635J

IG Group Holdings plc

01 April 2010

 



1 April 2010

IG GROUP HOLDINGS PLC

Nadex receives change of regulatory designation

IG Group Holdings plc (the "Group") is pleased to announce that Nadex, the Group's CFTC regulated exchange, has received the change of regulatory designation which will allow it to accept clients via Futures Commission Merchants ("FCMs"). 

This change represents the first step in the Group's strategy to address the US market.  It is anticipated that the Group's US FCM subsidiary, IG Markets Inc, will begin to offer Nadex products during April.  Nadex has begun discussions with other FCMs with a view to them offering Nadex products to their clients in due course.  These discussions are at an early stage and it is likely to be some months before the first of these arrangements comes to fruition.  The Group's operations in the US are therefore not expected to be a material source of revenue in the near term.

Enquiries

For further information please contact:

IG Group                                 020 7896 0011

Tim Howkins, Chief Executive

Steve Clutton, Finance Director

Financial Dynamics                 020 7269 7114

Rob Bailhache

Nick Henderson

About IG Group

IG Group Holdings plc is a world leader in financial derivatives trading, with several operating companies offering products to a retail and professional client base.

Expanding beyond its initial business in UK financial spread betting, IG Group has developed significant multinational operations with offerings in foreign exchange (forex), Contracts for Difference (CFDs) and sports betting.

IG Group continues to innovate and grow. In the past few years it has introduced mobile dealing, new platform and charting features and a regulated retail-focussed exchange in the US.Today, the IG Group of companies employs over 800 staff around the globe, helping more than 72,000 clients execute over two million transactions per month. IG Group is listed on the LSE with a market capitalisation of approx £1.4bn.

www.iggroup.com

About Nadex

The North American Derivatives Exchange was launched in June 2009, becoming the first regulated, retail-focussed exchange of its kind in the US. Nadex enables retail investors to trade stock indices, commodities, forex and economic events with limited risk in a transparent, regulated market.

www.nadex.com 

 

END

 

 

MSCEFLFXBXFZBBE