IG Group publishes quarterly report, revenues up 16%

IG Group Holdings plc issued the following Interim Management Statement referring to the three months ended 31 August 2010 and the corresponding period last year.

"Group revenue for the quarter was approximately £79m compared to £68m in the corresponding quarter in the prior year, an increase of 16% (that's almost 40% above FXCM's figures although IG unlike FXCM is a worldwide leader in CFDs and spread betting, hence the larger incomes - MG) . Volumes were strong in the first half of the quarter, but were subdued later in the quarter as low Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad Read this Term in all of the main asset classes amplified the normal seasonal effect of holidays in the northern hemisphere.

• The Group’s UK and Australian offices achieved revenues of £42.3m and £11.2m respectively, representing growth of 8.5% and 12%.
• The Group’s continental European offices continued to achieve strong growth with revenue of £12.7m, up 46%. All of the Group’s European offices achieved good growth, with Germany delivering the strongest.
• The Group’s Singapore office also delivered strong revenue growth, up 52% to £3.5m."

It seems like the two emerging leaders in the 'unconventional' retail markets such as Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term, spread betting and CFDs are FXCM and IG Group. For now, IG has the upper group and we've yet to see the slow but expected growth of Nadex as additional revenue stream.

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ig group interim report september 2010