27th Jun 2016 06:44
LONDON (Alliance News) - Contracts-for-difference trader Plus500 Ltd on Monday said the UK's decision to leave the European Union has not impacted its financial position and trading elsewhere in the business has been robust.
Plus500 said the "market dislocation and extreme volatility" caused by the UK electorate's decision to leave the EU had not hurt its financial position.
The UK represented only around 15% of group revenue in 2015, Plus500 said, and its proprietary risk management system limits exposure to any single instrument. No credit exposure was incurred by the company as Plus500 customers cannot lose more than they deposit, the company added.
The company added Friday, when the referendum results were announced, produced a record 17,000 sign-ups and 1,600 new customers.
Elsewhere in the business, trading has been robust and in line with expectations, Plus 500 said.
By Sam Unsted; [email protected]; @SamUAtAlliance
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