London Capital Group's profit falls 46%

Seems that not all brokers share the same surge in volumes and activity that is recently seen across the board (thanks CFTC CFTC The 1974 Commodity Exchange Act (CEA) in the United States created the Commodity Futures Trading Commission (CFTC). The Commission protects and regulates market activities against manipulation, fraud, and abuse trade practices and promotes fairness in futures contracts. The CEA also included the Sad-Johnson Agreement, which defined the authority and responsibilities for the monitoring of financial contracts between the Commodity Futures Trading Commission and the Securities and Exchange Commiss The 1974 Commodity Exchange Act (CEA) in the United States created the Commodity Futures Trading Commission (CFTC). The Commission protects and regulates market activities against manipulation, fraud, and abuse trade practices and promotes fairness in futures contracts. The CEA also included the Sad-Johnson Agreement, which defined the authority and responsibilities for the monitoring of financial contracts between the Commodity Futures Trading Commission and the Securities and Exchange Commiss Read this Term). Financial services firm London Capital Group Holdings Plc (LCG.L) reported a 46 percent fall in full-year pretax profit due to unfavourable markets, lower interest income and increased costs, and said it will not pay a final dividend.

The company, which offers online spread betting (I wrote about the joint venture it started with PartyGaming here), foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term and broking services, also said Frank Chapman will step down from his current role of chief executive before the annual general meeting in April, and would be replaced by Finance Director Simon Denham.

London Capital said it was not paying a final dividend as its regulatory capital requirements had risen and it expected the Financial Services Authority to demand more capital from financial institutions in the future.

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