Statement on impact of EU Referendum

RNS Number : 2784C

Plus500 Limited

27 June 2016

 

27 June 2016

Plus500 Ltd.

("Plus500" or "the Company")

Statement on impact of EU Referendum

Plus500, a leading online service provider for retail customers to trade CFDs internationally, is pleased to announce the impact of exceptionally volatile trading following the United Kingdom's Referendum decision to leave the European Union.  The market dislocation and extreme volatility has not adversely affected the Group's financial position. The UK represented 15% of 2015 revenue and we continue to have a diverse international customer base.

The Company's proprietary risk management system ensures that overall exposures to a single instrument are unlikely to have a material impact on the Company's financial position. No credit exposure was incurred due to the fact that Plus500's customers cannot lose more than they deposit. The day's volatility led to record spreads being recorded.

Friday also resulted in a number of significant records for Plus500: most signups (17,000) and most new customers (1,600).

Trading for the period since the last trading update issued on 18 April has continued to be robust and in line with expectations.

For further information please contact:

Plus500 Ltd.                                                                                                                                 [phone]

Elad Even-Chen, Chief Financial Officer   

[e-mail]

Liberum - Nomad and Joint Broker                                                                                        [phone]

Clayton Bush, Josh Hughes

Berenberg - Joint Broker                                                                                                           [phone]

Chris Bowman, Amritha Murali, Marie Stolberg

MHP Communications                                                                                                              [phone]

Reg Hoare, Tim Rowntree, Kelsey Traynor

[e-mail] 

About Plus500

Company website: www.plus500.com

Plus500 has developed and operates an online trading platform for retail customers to trade CFDs internationally over more than 2,200 different underlying global financial instruments comprising equities, indices, commodities, options, ETFs and foreign exchange. The Company enables retail customers to trade CFDs in more than 50 countries. The trading platform is accessible from multiple operating systems (Window, smartphones (iOS, Android and Windows Phone), tablets (iOS, Android and Surface), Apple Watch and web browsers. The Directors believe that the success of the Company to date has been primarily due to the proprietary technology it has developed and continues to develop to support the trading platform. The trading platform has been designed to be as intuitive and easy to use as possible. The trading platform has been localised into 31 languages. The Directors believe that this emphasis on technology, together with the Company's targeted online marketing strategy, has helped to differentiate the Company from its competitors.

 

END

 

 

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