Finance Feeds logo

Launch of Snap IPO Grey Market

Andrew Saks-McLeod, Head of Research and Analysis, ETX Capital

IG, a global leader in online trading, today launches a grey market for the Snap IPO. IG offers grey markets in advance of the listings of companies on stock markets in the UK, Europe and the US. It allows traders to speculate on the direction of a share price or market value of a company, […]

IG, a global leader in online trading, today launches a grey market for the Snap IPO.

IG offers grey markets in advance of the listings of companies on stock markets in the UK, Europe and the US. It allows traders to speculate on the direction of a share price or market value of a company, before its shares become completely listed.

Traders have enjoyed the opportunity to speculate on the valuation of a company before it becomes public traded. Previous grey markets such as Royal Mail and Facebook were particularly popular among IG clients, given their major presence in daily life.

The current price in the market estimated the value of Snap to be $27.9 billion.

Chris Beauchamp, Chief Market Analyst, comments: “Historically IG’s grey markets have been solid indicators of where companies official launch prices will end up. Snap is one of the biggest and most anticipated US tech IPOs for years, with the potential to rival the excitement witnessed when Facebook and Twitter went public. The echoes of Twitter’s IPO are clear to see, given Snap’s admission that turning a profit could be difficult. Whether the IPO hype survives once the initial celebrations are over remains to be seen.

Subscribe

Read this next

Digital Assets

Kraken signs commitment to launch regulated business in Canada

San Francisco-based cryptocurrency exchange Kraken has filed a pre-registration undertaking with a Canadian provincial regulator as it works towards becoming a regulated provider in the country.

Interviews

TT’s Keith Todd brings fixed income and cybersecurity to FIA Boca 2023

FinanceFeeds Editor-in-Chief Nikolai Isayev spoke with Keith Todd about Trading Technologies’ move to fixed income after nearly 30 years of existence. TT is also proposing cooperation and transparency among competitors to tackle cyber risks.

Digital Assets

Binance joins FIDO Alliance to enhance user security with introduction of passkeys

“With passkeys, a user can quickly and safely sign in across multiple sites, apps, and devices with local biometric authorization. Binance will offer users a more secure and streamlined experience using passkeys on our platform without compromising on security”.

Digital Assets

ipaymy taps TripleA in Singapore for rent, invoices, taxes, salaries in Crypto

“Our white label crypto payment solution enables our partners to reap the benefits of accepting crypto payments, without managing crypto on their balance sheets. This makes it an ideal solution for businesses looking to offer cryptocurrency payments volatility-free.”

Industry News

London and New York rank joint first as top financial centers, according to…London

“The UK remains one of the most open and global financial centres with better access to international markets than the US, France, or Japan. But our competitive advantage is at risk.”

Interviews

Sterling Trading Tech (STT) discusses their Risk & Margin System at FIA Boca 2023

FinanceFeeds Editor-in-Chief Nikolai Isayev spoke with Chief Customer Officer Keith Cacciola and Managing Director of Business Development Andrew Actman about STT’s competitive advantages, the challenges their clients face today, the firm’s product roadmap and new leadership at STT.

Institutional FX

Swedish online brokerage pioneer Nordnet deploys Citi Securities Lending Access platform

“Nordnet was one of the first online brokers in Sweden and has since expanded into a pan-Nordic leading digital platform for savings and investments. We are proud to add this collaborative initiative to our ever-growing list of market innovations for our customers.”

Digital Assets

Elwood integrates Fireblocks to further connect digital asset ecosystem

“As a first port of call, the integration of Fireblocks will enhance the portfolio management system experience for clients, providing users with a comprehensive view of their current and historical digital asset positions across all venues, including their Fireblocks movements and balances.”

Industry News

OKX to open office in Australia, starts rivalry with Kraken in Formula 1

“Our ambition is straightforward – to become the leading crypto platform in the world. We see Australia as an indispensable part of this strategy and a key growth market.”

<
✖