IG Group is a UK-based company providing trading in financial derivatives such as contracts for difference and financial spread betting and, as of , stockbroking to retail traders. While the majority of the company's activities are based in the UK, the company has expanded internationally. The company was founded in by Stuart Wheeler as a spread betting business under the name IG Index an abbreviation for Investors Gold Index which allowed people to trade gold prices as an index instead of buying the physical commodity.
In July , IG Group commenced trading in Australia after a change in the country's financial services legislation made it possible to offer contracts for difference to Australian residents. In , it purchased HedgeStreet , a small US based company that developed an electronic marketplace that allows online retail investors to trade financial derivatives. It renamed this the North American Derivatives Exchange or NADEX and has been attempting to use this to develop a product that looks like its binary option "digital s" product but that meets the US financial regulations and can be offered to retail traders.
In May , it obtained permission from the US Commodity Futures Trading Commission to make various technical changes that move in that direction. In June , IG Markets shut down its traditional fixed-odds sports service extrabet , which had an emphasis on in-play betting.
The fixed odds sport service was shut down to focus on financial wagers, after failing to find a buyer for the whole unit. In January , the Swiss National Bank announced that it would be discontinuing its minimum exchange rate policy. IG Group is now, therefore, the sole trading name of the operating companies: From Wikipedia, the free encyclopedia.
IG Group plc Type. Retrieved 22 April Retrieved 25 May Retrieved 10 May Retrieved 31 January Retrieved 31 March Retrieved 31 July Retrieved 14 April Retrieved 22 October Retrieved 8 December Retrieved 5 January Retrieved 26 May Retrieved from " https: Gambling companies of the United Kingdom Companies based in London Companies listed on the London Stock Exchange Financial services companies of the United Kingdom Financial derivative trading companies Companies established in Foreign exchange companies Online brokerages.