Statement on Swiss Franc Movement

RNS Number : 2929C

IG Group Holdings plc

15 January 2015

 

IG Group Holdings plc
15 January 2015

Statement on Swiss Franc movement

Following this morning's exceptional announcement by the Swiss National Bank, which resulted in a sudden and extreme movement in the value of the Swiss Franc, IG Group Holdings plc ("The Company", "The Group", "IG") believes it is appropriate to provide an update on the negative financial impact to the Group.  The precise level of the impact will be partially dependent on the Company's ability to recover client debts, but in total it will not exceed £30 million, from market and credit exposure.

The market exposure occurred where client positions were closed at a more beneficial level than the Company was able to close its entire corresponding hedge due to the market dislocation.

This occurs against the backdrop of very strong recent and current performance and IG's extremely robust financial position.

As scheduled, on 20 January 2015, IG will present its results for the first six months of the 2015 year, and will provide an update on progress on its strategic initiatives.

For further information, please contact:

IG Group

Kieran McKinney
Head of Investor Relations                                          020 7573 0026

FTI Consulting

Neil Doyle / Ed Berry                                                     020 3727 1141 / 1046

IG is a global leader in online trading, providing fast and flexible access to over 10,000 financial markets - including shares, indices, forex, commodities and binaries.

Established in 1974 as the world's first financial spread betting firm, IG's aim is to become the default choice for active traders globally. It is already an award-winning multi-platform trading company, the world's No.1 provider of CFDs* and a global leader in forex, and it launched an execution-only stockbroking service in the UK and Ireland in September 2014.

It is a member of the FTSE 250, with offices across Europe, Africa, Asia-Pacific and the US, where it offers limited risk derivatives contracts via the Nadex brand.

*Based on revenue excluding FX, published financial statements, July 2014.

 

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