22nd Mar 2018 08:46
LONDON (Alliance News) - Online trading firm IG Group Holdings PLC said on Thursday it registered record quarterly revenue in the three months to February.
IG shares were up 4.7% on Thursday at a price of 856.00 pence each.
Net trading revenue in the period, the third quarter of its financial year, was 30% up year-on-year to GBP152.9 million, and was also 13% higher than IG's previous quarterly record for net trading revenue of GBP135.2 million, which it set in its current year's first quarter.
IG said revenue in the period was boosted by high levels of client trading as well as an increase in the number of clients.
Over-the-counter leveraged revenue per client of GBP1,482 was 25% higher than the same quarter in the prior year, and the number of unique OTC leveraged clients was up 4% on the prior year. Cryptocurrency trading was 11% of total trading revenue, compared to 1% a year before.
Net trading revenue for the nine months to date stands at GBP421.3 million, 16% up year-on-year. Cryptocurrency trading has made up 7% of all revenue in its financial year so far, compared to less than 1% the year before.
UK net trading revenue in IG's third quarter was up 35% year-on-year to GBP69.2 million, up 12% over the nine months. Within this, Europe, the Middle East & Asia were up 25% to GBP41.9 million, and Asia Pacific up 29% to GBP36.4 million for the third quarter, for the nine months 18% and 22% higher respectively.
IG added on Thursday it does not expect restrictions on the marketing, distribution, or sale to retail clients of contracts for difference to affect its current financial year, and it remains "difficult" to foresee how it will impact in future.
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