Response to FCA announcement

RNS Number : 8262J

Plus500 Limited

07 December 2018

 

Plus500 Ltd.

("Plus500" or "the Company")

 Response to FCA announcement

Plus500, a leading online trading platform provider for customers to trade CFDs internationally, provides an update following today's announcement from the FCA about its proposed interventions regarding the sale of certain complex derivative products.

The proposed interventions are the same in substance to the regulatory changes that ESMA imposed in August 2018. The Company acknowledges the FCA announcement, noting it already operates in compliance with these proposed changes. It has never offered binary options and so is not impacted by this proposed intervention.

The FCA's proposals do not change the Company's expectations.

For further details:

Plus500 Ltd Elad Even-Chen, Chief Financial Officer Kieran McKinney, Investor Relations [e-mail]	Tel: [phone]
Liberum - Joint Broker Clayton Bush, Christopher Britton, Josh Hughes, William Hall www.liberum.com	Tel: [phone]
Berenberg - Joint Broker Chris Bowman, Mark Whitmore www.berenberg.de/en	Tel: [phone]
MHP Communications Reg Hoare, Tim Rowntree, Kelsey Traynor, Pete Lambie [e-mail]	Tel: [phone]

Forward looking statements

This announcement contains statements that are or may be forward-looking statements.  All statements other than statements of historical facts included in this announcement may be forward-looking statements, including statements that relate to the Company's future prospects, developments and strategies.

The Company does not accept any responsibility for the accuracy or completeness of any information reported by the press or other media, nor the fairness or appropriateness of any forecasts, views or opinions express by the press or other media regarding the Group. The Company makes no representation as to the appropriateness, accuracy, completeness or reliability of any such information or publication.

Forward-looking statements are identified by their use of terms and phrases such as "believe", "targets", "expects", "aim", "anticipate", "projects", "would", "could", "envisage", "estimate", "intend", "may", "plan", "will" or the negative of those, variations or comparable expressions, including references to assumptions.  The forward looking statements in this announcement are based on current expectations and are subject to known and unknown risks and uncertainties that could cause actual results, performance and achievements to differ materially from any results, performance or achievements expressed or implied by such forward-looking statements.  Factors that may cause actual results to differ materially from those expressed or implied by such forward looking statements include, but are not limited to, those described in the risk factors.  These forward-looking statements are based on numerous assumptions regarding the present and future business strategies of such entity and the environment in which each will operate in the future.  All subsequent oral or written forward-looking statements attributed to the Company or any persons acting on its behalf are expressly qualified in their entirety by the cautionary statement above.

Each forward-looking statement speaks only as at the date of this announcement.  Except as required by law, regulatory requirement, the Listing Rules and the Disclosure Guidance and Transparency Rules, neither the Company nor any other party intends to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

About Plus500

Plus500 operates an online trading platform for individual customers to trade CFDs internationally over more than 2,200 different underlying global financial instruments comprising equities, indices, commodities, options, ETFs, cryptocurrencies and foreign exchange. Individual customers of Plus500 can trade CFDs in more than 50 countries and in 32 languages. The trading platform is also accessible from multiple operating systems (Windows, smartphones (iOS, Android and Windows Phone), tablets (iOS, Android and Surface) and web browsers). Plus500 retains operating licences and is regulated in the United Kingdom, Australia, Cyprus, Israel, New Zealand, South Africa and Singapore.  Customer care is integral to Plus500: customers cannot be subject to negative balances and there are no commissions on trades. Plus500 does not utilise cold calling techniques and does not offer binary options.  A free demo account is available on an unlimited basis for platform users and sophisticated risk management tools are provided free of charge to manage your leveraged exposure and stop losses to help customers protect profits and limit capital losses.www.plus500.com

 

END

 

 

MSCEAEAXEDLPFFF