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Eye of Riyadh
Eye of Riyadh
Business & Money | Sunday 12 April, 2020 12:24 pm |
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IG Group launches IG Prime offering to serve the needs of Institutional clients in the prime brokerage market

IG Group, a FTSE 250 global leader in online trading, has today launched IG Prime for institutional clients to address the specific needs of start-up & multi-prime hedge funds and Family Offices.

IG Prime will provide clients with prime brokerage services, such as asset servicing, multi asset-class product offering, synthetic prime, cash equities, which will be supported by an expanded international sales coverage network within IG Prime.

“Institutional clients have been calling for a new challenger, for some time, to enter the prime-brokerage market and offer an innovative and competitive alternative to the incumbent providers,” said Fouad Bajjali, Head of Institutional, and CEO, IG Bank SA. “IG Prime will deliver world-class prime brokerage execution for clients through cutting-edge technology combined with access to global markets.”

Founded in London in 1974, IG is a trusted global leader in online trading with over 15 years’ experience of serving institutional clients. In 2006, IG launched prime brokerage services, delivering tailored solutions for hedge fund managers and family offices ever since.

“IG Prime is yet another example of IG being at the forefront of technological innovation for our clients,” said Simon Myers, Chief Technology Officer at IG. “Our advanced trading platforms are engineered for speed, stability and resilience, routinely processing multi-million trades per month and providing access to more than 40 global financial markets.”

IG Prime has global resources across 16 countries providing clients with their own dedicated account management team covering business and technology processes. As part of IG’s wider strategy of investing for growth, to deliver a more diversified and sustainable business, IG Prime will continue to expand its products and services for clients over the next two years.

“IG Prime will deliver efficiency for clients through its use of cutting-edge technology and product development. We can successfully compete because we will be cost effective, whilst still offering clients deep and sophisticated product access with a personal touch,” said Max Hayden, Global Head of Institutional Sales at IG Group. “Hedge Fund clients are more focused on cost than ever as the industry has gone mainstream, but they still want the comfort of a secure well capitalised counterparty.”

IG Prime gives hedge fund managers and family offices access to the full spectrum of prime brokerage services across synthetic, custody, trading and financing solutions. The business combines web-based trading with real-time reporting and is supported by IG’s strong global client support network.

About IG’s Institutional Business

IG’s Institutional business is part of its Significant Opportunities portfolio and targets the c.8000 hedge funds and family offices with less than $US200 million in Assets Under Management. This market segment represents a potential market opportunity of around £500 million for IG.

In IG’s interim results on January 21st, its institutional business delivered a double-digit increase in institutional revenues. When an institutional client decides to trade through IG, the revenue opportunity is, on average, larger than for a professional client.

 

As part of its May 2019 strategy announcement, IG set out to deliver the following targets, revenue growth in its core markets at around 3-5% per annum over the medium term; and to increase revenues from its significant opportunities’ portfolio by £100 million, to around £160 million in FY22.

About IG

IG empowers informed, decisive, adventurous, people to access opportunities in over 16,000 financial markets. With a strong focus on innovation and technology, the company puts client needs at the heart of everything it does.

IG’s vision is to provide the world’s best trading experience. Established in 1974 as the world’s first financial derivatives firm, it continued leading the way by launching the world’s first online and iPhone trading services.

IG is an award-winning, multi-platform trading company which allows retail, professional and institutional clients to trade 24 hours a day, 7 days a week*. IG is the world’s No.1 provider of CFDs** and a global leader in forex. It provides leveraged services with the option of limited-risk guarantees and offers an execution-only stock trading service in the UK, Australia, Germany, France, Ireland, Austria and the Netherlands. IG has a range of affordable, fully managed investment portfolios, which provide a comprehensive offering to investors and active traders.

IG is a member of the FTSE 250, with offices across Europe, including a Swiss bank, Africa, Asia-Pacific, the Middle East and North America. IG Group Holdings plc holds a long-term investment grade credit rating of BBB- with a stable outlook from Fitch Ratings.

*Excluding 10pm Friday (GMT) to 4am Saturday (GMT)
**Based on revenue excluding FX (from published financial statements, June 2019)

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IG is a trading name of IG Limited a company registered at 2702 & 2703 Level 27, Tower 2, Al Fattan Currency House, DIFC, Dubai, United Arab Emirates. IG is authorised and regulated by the Dubai Financial Services Authority under Firm's reference No. (F001780).

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