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IG Group expects net trading revenue in Q4 FY20 to be £259m

Maria Nikolova

Financial market volatility has remained high and the Group has continued to see elevated client trading activity.

Electronic trading major IG Group Holdings plc (LON:IGG) today issued a trading update for the fourth quarter of its FY20 financial year and its financial year to end-May 2020, ahead of entering its close period.

Let’s recall that IG issued a Q4 trading update on April 24, 2020 which noted that quarter to date net trading revenue was estimated to be around £173 million. Financial market volatility has remained elevated, IG said today, and the Group has continued to see high levels of client trading activity. Net trading revenue in Q4 FY20 is now estimated to be approximately £259 million (Q4 FY19: £117.9 million), with full year net trading revenue anticipated to be approximately £649 million (FY19: £476.9 million).

As FinanceFeeds has reported, IG’s net trading revenue in H1 FY20 was £249.9 million, compared with £251.0 million in H1 FY19. This is in line with forecasts. The brokerage also noted that the first half of the prior year benefitted from two months of trading prior to the ESMA product intervention measures coming into effect.

Net trading revenue in IG’s core markets was 6% lower in H1 FY20 than the same period in the prior year. This was due to a 13% reduction in revenue in the ESMA region which was impacted by the introduction of the ESMA product intervention measures, and the lower level of trading by professional clients in the second quarter FY20 compared with a strong year-ago period.

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