Update on conclusion of BaFin consultation

RNS Number : 5960E

IG Group Holdings plc

09 May 2017

 

9 May 2017

IG GROUP HOLDINGS PLC
Update on conclusion of BaFin consultation on retail CFDs

IG Group ("IG", "the Company"), a global leader in online trading, welcomes the final proposals by BaFin, the German regulator, regarding the marketing, distribution and sale of CFDs to retail clients.

The final proposals are in line with the original proposals and mandate the provision of a no negative guarantee. Per the Company's announcement of 8 December 2016, IG already actively markets its Limited Risk Account in Germany which is not only compliant with these new rules, but provides additional 'by position' protection to German consumers.

IG firmly believes in robust and proportionate regulatory oversight of the CFD sector and believes this move should both provide additional protection for consumers and enhance its competitive position in the country.

For further information, please contact:

IG Group

Kieran McKinney
Head of Investor Relations and Corporate Affairs                    020 7573 0026                         [e-mail]

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 and commodities.

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 an award-winning multi-platform trading company, the world's No.1 provider of CFDs* and a global leader in forex, and it now offers an execution-only stockbroking service in the UK, Australia, Ireland, France, Germany, Austria and the Netherlands. The Company also recently launched a low-cost discretionary managed Investment portfolio service in the UK.

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

* based on revenue excluding FX (from published financial statements), October 2016

 

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