Just as predicted by our Deep Throat in early October 2007 —-”-They are packaging HedgeStreet for a closing/fire-sale.”-
U.S.-based sed HedgeStreet, which has operated the HedgeStreet Exchange, has liabilities of approximately $1 million and operating costs of approximately $325,000 per month. Currently, the company is not generating any revenue.
IG Group chief executive, Time Howkins, said the acquisition gives the company the necessary regulatory approvals, technology, personnel needed to operate an exchange for US retail clients to trade in binary options. The company said it plans to re-launch the exchange around the end of its current financial year, after making some modifications, mainly the range of contracts offered.
IG Group Holdings plc offers speculative investment products to a retail and professional client base, through a number of well-known brands.
The group’-s principal businesses give clients the ability to trade on financial markets. Our longest established business is financial spread betting, where we are the world’-s leading provider (based on turnover), servicing a retail client base, primarily in the UK. Our rapidly growing Contracts For Difference and foreign exchange business services retail clients and market professionals around the world from offices located in the UK, Australia, Singapore and Germany. The group also offers spread betting on sports, entertainment and political events and binary betting on both financial and sports markets. More than 90% of the group’-s client transactions are executed electronically.
– Revenue up 36% at ?122.0 million
– EBITDA up 34% at ?70.4 million
– Strong EBITDA margin of 57.7%
– Diluted earnings per share up 33% at 14.52p
– Final dividend 6.5p per share- total dividend 8.5p per share
– EBITDA margin improvement from 54.5% in H1 to 60.3% in H2
– Successful launch of TradeSense in UK and recent launch in Australia
– Launch of PureDeal dealing platform
– Current trading is strong
The group’-s business has grown rapidly since the late 1990s, with revenues having grown at a compound annual rate of roughly 40% over the past nine years. We have also developed IG Group into a significant multinational operation.
Note: IG Group does not accept bets from customers based in the United States.
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Read the previous blog posts by Chris. F. Masse:
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