IG Group

Infobox_Company
company_name = IG Group plc
company_
company_type = Public Limited Company (lse|IGG)
company_slogan =
foundation = 1974
location = London, UK
key_people = Jonathan Davie, (Chairman)
Tim Howkins, (CEO)
num_employees = 551 (2008)
industry = Financial Services
products =
revenue = £184 million (2008)
operating_income=£83.4 million (2008)
net_income = £67.3 million (2008)
homepage = [http://www.iggroup.com/ www.iggroup.com]
footnotes =

IG Group plc (lse|IGG) is a British-based Company trading in financial derivatives and sports betting. While the majority of the company's activities are based in the UK the Company has also expanded internationally. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

History

The Company was founded by Stuart Wheeler in 1974 as a spread betting business under the name "IG Index" (an abbreviation for "Investors Gold Index"). [http://www.iggroup.com/corporate/ab_history.html?ct=ln IG Group History] ] In 1982 it started to offer bets on FT 30 companies and in 1995 on all publicly-traded companies.

In July 2000, shares in the newly named "IG Group plc" were first listed on the London Stock Exchange.

In July 2002, "IG Group" commenced trading in Australia after a change in the country's financial services legislation made it possible to offer Contracts for Difference and spread betting to Australian residents.

IG Group took the opportunity to acquire Wheeler's shares, and those of certain other long-standing shareholders, in a management buy-out (backed by venture capitalists CVC Capital Partners Ltd) which valued the company at £143 million. [ [http://findarticles.com/p/articles/mi_qn4158/is_20030730/ai_n12706284 IG Group agrees to £143m management buy out] ] "IG Group plc's" listing on the London Stock Exchange was subsequently cancelled on 7 November 2003.

In May 2005, after two years of private ownership, "IG Group" and CVC Capital Partners re-floated the company on the main list of the London Stock Exchange with a valuation of £393 million. [ [http://findarticles.com/p/articles/mi_qn4158/is_20050429/ai_n14605328 IG forced to cut pricing to get float away] ]

Operations

IG Index offers spread betting on financial markets, sporting, entertainment and political events, [http://www.iggroup.com/corporate/brands.html?ct=ln IG Group: Our businesses] ] while IG Markets offers Contracts For Difference (CFDs) and Foreign exchange market (FX) bets on a similar range of financial markets.

A traditional fixed-odds sports service, with an emphasis on in-play betting, is offered by extrabet, while binarybet.com is a hybrid of spread betting and fixed-odds, offered on sports and financial markets.

The Company now operates in Australia, France, Germany, Italy, Russia, Singapore, Spain and Sweden.

Online Dealing

New technology offering online dealing was introduced in 1998 and is now extensively used by customers. [ [http://www.wipo.int/amc/en/domains/decisions/html/2000/d2000-1124.html WIPO Arbitration & Mediation Centre Panel Decision Section 6] ]

Regulation

IG Index and IG Markets are regulated by the Financial Services Authority (FSA) in the United Kingdom. [http://www.igindex.co.uk/spread-betting/about-us.html IG Index: Regulation] ] The Group's Australian operations are regulated by the Australian Securities and Investments Commission (ASIC) and the Group's Singapore operations are regulated by the Monetary Authority of Singapore (MAS).

References

External links

* [http://www.iggroup.com/ Official site]