TheAmerican division of IG Group, a London-based company focused on spread bettingand CFD trading, has joined the Futures Industry Association (FIA). FIA is aglobal trade organization comprising clearing firms, exchanges, clearinghouses,trading firms and commodities specialists from over 48 countries across theworld. The association is open to other groups, such as technology vendors,lawyers and other professionals, serving the industry.
IG US GainsFIA Membership
FIAannounced IG US’s membership today (Wednesday) on its social media platforms. However, the international association first unveiled the subsidiary firm’s membershipover a week ago.
In 2021, IGGroup entered the US trading market by taking over the onlinebroker, tastyworks and its trading education platform, tastytrade, in a $1 billion deal. At the time of acquisition ,tastyworks had over 105,000 active trading accounts on its platform.
Earlierthis year, tastyworks rebranded totasytradetakingover the old brand name of the online financial network which it ceased to use in December 2022. Tastytrade through its platform, offers options, futures and crypto trading to retailinvestors.
A Good Timefor IG US
IG US’saffiliation with the FIA arrived as IG Group has been experiencing a strong financialperformance in the American market. During FY23 which ended on 31May, IG Group’s revenue from its US operations jumped 47% to £191.3million.
To narrow it down, tastytrade alone saw its year-over-year revenue climb 52% to £170.3 million. Similarly, the revenue of Spectrum Markets, apan-European trading venue for securitised derivatives owned by IG Group,ascended 52% to over £15.7 million
However, IGGroup returned a mixed performance when the accounts of its various brands wereconsolidated. While the group’s annual revenue shot up 5% to £1.02 billion,net trading revenue shrank 3% to £941.8 million, Finance Magnates reported.Moreover, the group’s net profit slumped 8% to £363.6 million.
“We’veperformed well in the much more difficult market conditions that persistedthrough most of the past year, maintaining our leadership position inOTC derivatives while building further momentum in our product and geographicexpansion,” Charlie Rozes, the Acting CEO at IG who took over the role fromJune Felixstated.
SEC charges Citigroup; FMA and FCA warn against clone websites; read today’s news nuggets.
TheAmerican division of IG Group, a London-based company focused on spread bettingand CFD trading, has joined the Futures Industry Association (FIA). FIA is aglobal trade organization comprising clearing firms, exchanges, clearinghouses,trading firms and commodities specialists from over 48 countries across theworld. The association is open to other groups, such as technology vendors,lawyers and other professionals, serving the industry.
IG US GainsFIA Membership
FIAannounced IG US’s membership today (Wednesday) on its social media platforms. However, the international association first unveiled the subsidiary firm’s membershipover a week ago.
In 2021, IGGroup entered the US trading market by taking over the onlinebroker, tastyworks and its trading education platform, tastytrade, in a $1 billion deal. At the time of acquisition ,tastyworks had over 105,000 active trading accounts on its platform.
Earlierthis year, tastyworks rebranded totasytradetakingover the old brand name of the online financial network which it ceased to use in December 2022. Tastytrade through its platform, offers options, futures and crypto trading to retailinvestors.
A Good Timefor IG US
IG US’saffiliation with the FIA arrived as IG Group has been experiencing a strong financialperformance in the American market. During FY23 which ended on 31May, IG Group’s revenue from its US operations jumped 47% to £191.3million.
To narrow it down, tastytrade alone saw its year-over-year revenue climb 52% to £170.3 million. Similarly, the revenue of Spectrum Markets, apan-European trading venue for securitised derivatives owned by IG Group,ascended 52% to over £15.7 million
However, IGGroup returned a mixed performance when the accounts of its various brands wereconsolidated. While the group’s annual revenue shot up 5% to £1.02 billion,net trading revenue shrank 3% to £941.8 million, Finance Magnates reported.Moreover, the group’s net profit slumped 8% to £363.6 million.
“We’veperformed well in the much more difficult market conditions that persistedthrough most of the past year, maintaining our leadership position inOTC derivatives while building further momentum in our product and geographicexpansion,” Charlie Rozes, the Acting CEO at IG who took over the role fromJune Felixstated.
SEC charges Citigroup; FMA and FCA warn against clone websites; read today’s news nuggets.
