IG Group has once again tapped domestic election cycles, this time tracking the London Mayoral Election Barometer, helping guide traders with data insights ahead of the election on May 5, 2016, according to an IG Group statement.
The 2016 London Mayoral Election looks to be instrumental for the city, with IG Group already ratcheting up its analytics to predict its outcome. Presently, IG Group postulates an 88% chance of Sadiq Khan becoming the next mayor of the city, leaving Zach Goldsmith with a mere 12% chance to claim victory, as derived from its data.
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This seemingly one-sided outcome runs counter to many opinion polls currently tracking the race, which was further reinforced by the group’s binary market – upwards of 90% of all trades places on the London Mayoral race have portended a victory for Labour candidate, Sadiq Khan.
IG Group has formulated its predicted outcome from its own internal data streams – leading up to the election itself, the broker will be releasing its own assessment and data in regular updates. This is hardly the first such time IG Group or other companies have used predictive analyses in trying to determine an outcome in the political realm.
The launch follows on the heels of an earlier offering initiated by IG Group this past February that tracked the US Presidential election cycle. Since the publication of such barometers and offerings, IG Group’s data suite has covered the world’s largest economic bloc, following the US cycle with coverage that has included periodic data and updates throughout the primaries.