22nd Oct 2009 07:00
22 October 2009
IG GROUP HOLDINGS PLCPossible regulatory changes in Japan
The Financial Services Agency in Japan ("FSAJ") have announced a short period of public consultation on proposals to limit leverage on contracts for difference ("CFDs") over certain asset classes. They propose restricting leverage to 5 times for shares, to 10 times for equity indices and to 50 times for bonds. The public consultation will run until 16 November 2009 with any restrictions coming into force approximately one year later. These proposals do not affect CFDs on commodities or precious metals or binary options. During the consultation period the Group will lobby the FSA directly as well as via industry channels.
Revenue in September from the products affected represented approximately 0.5% of Group revenue.
Enquiries
For further information please contact:
IG Group Holdings plc 020 7896 0011 Tim Howkins, Chief Executive Steve Clutton, Finance Director
Financial Dynamics 020 7269 7114 Robert Bailhache Nick Henderson
About IG Group
IG Group Holdings plc is a world leader in financial derivatives trading, with several operating companies offering products to a retail and professional client base.
Expanding beyond its initial business in UK financial spread betting, IG Group has developed significant multinational operations with offerings in foreign exchange (forex), Contracts for Difference (CFDs) and sports betting.
IG Group continues to innovate and grow. In the past few years it has introduced mobile dealing, new platform and charting features and a regulated retail-focussed exchange in the US. Today, the IG Group of companies employs over 800 staff around the globe, helping more than 72,000 clients execute over two million transactions per month. IG Group is listed on the LSE with a market capitalisation of approx £1.3bn.
IG Group Companies
IG IndexIG Index is Britain's leading financial spread-betting firm, offering prices in a huge range of indices, currencies, commodities and options, as well as thousands of individual shares.
IG MarketsIG Markets is an international market-maker in financial derivatives - principally CFDs on shares and indices - as well as being a leading dealer in margined forex.
extrabet.comextrabet.com offers sports spread betting, sports and financial fixed-odds betting, sports and financial binary betting, as well as a casino from a single account.
FXOnline JapanFXOnline is market-leading Japanese forex service. It was the first to offer commission-free trading on forex in Japan, and in 2009 introduced a wide range of CFDs on shares, indices and more.
NadexThe North American Derivatives Exchange was launched in June 2009, becoming the first regulated, retail-focussed exchange of its kind in the US. Nadex provides a direct access platform for users to trade contracts on a wide range of markets.
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