Spread bet group in trade boom
Published 23/08/2011 | 08:00
Spread bet firm IG Group has seen record levels of activity in the past few weeks as stock markets, shares and commodities have swung wildly.
The group, whose customers bet on which way markets, share prices and commodity prices will move, said the trading boom was despite it being the holiday season in most countries where it operates.
The frenetic trading has sent revenues in excess of £94m for the quarter ending August, 19% higher than the £79.1m generated in the same period a year ago.
The market roller coaster over the past month has been driven by fear over the impact of the eurozone debt crisis and the possibility of the US economy grinding to a halt.
Commodity prices have also been very active, also good news for IG and other spread bet firms.