IG Group Holdings plc issued the following Interim Management Statement referring to the three months ended 31 August 2010 and the corresponding period last year.
“Group revenue for the quarter was approximately £79m compared to £68m in the corresponding quarter in the prior year, an increase of 16% (that’s almost 40% above FXCM’s figures although IG unlike FXCM is a worldwide leader in CFDs and spread betting, hence the larger incomes – MG) . Volumes were strong in the first half of the quarter, but were subdued later in the quarter as low volatility in all of the main asset classes amplified the normal seasonal effect of holidays in the northern hemisphere.
- The Group’s UK and Australian offices achieved revenues of £42.3m and £11.2m respectively, representing growth of 8.5% and 12%.
- The Group’s continental European offices continued to achieve strong growth with revenue of £12.7m, up 46%. All of the Group’s European offices achieved good growth, with Germany delivering the strongest.
- The Group’s Singapore office also delivered strong revenue growth, up 52% to £3.5m.”
It seems like the two emerging leaders in the ‘unconventional’ retail markets such as forex, spread betting and CFDs are FXCM and IG Group. For now, IG has the upper group and we’ve yet to see the slow but expected growth of Nadex as additional revenue stream.
