IG Group Sees Solid Revenues in Q3 of FY2020, Buoyed by COVID-19

IG Group Holdings plc has published its financial results for the third quarter of its financial year ending on the 31st of May, 2020, this Thursday, revealing a strong performance during the period.

The third quarter of IG Group’s fiscal 2020 is the three months to the 29th of February 2020. Overall, this period delivered a solid performance, with client activity increasing, especially in the final week of February, the company said.

For the third quarter of fiscal 2020, revenue was £139.8 million. This represents a growth of 29 percent when measured against the same period in the prior year. Not only that, but it is the strongest quarterly revenue since the implementation of ESMA ESMA European Securities and Markets Authority (ESMA) is an independent Authority of the European Union that is responsible for the safety, security, and stability of the European Unions’ financial system and is charged with protecting the public. The European supervisory authority for the securities sector, ESMA was established on 1 January 2011. The European Securities and Markets Authority is an independent EU authority based in Paris. It aims to contribute to the effectiveness and stability of t European Securities and Markets Authority (ESMA) is an independent Authority of the European Union that is responsible for the safety, security, and stability of the European Unions’ financial system and is charged with protecting the public. The European supervisory authority for the securities sector, ESMA was established on 1 January 2011. The European Securities and Markets Authority is an independent EU authority based in Paris. It aims to contribute to the effectiveness and stability of t Read this Term’s product intervention measures in August of 2018, and the third-highest quarterly revenue in the Group’s history.

During the period, IG Group served 101,700 over the counter (OTC) leveraged active clients in the quarter. This is higher by 21 percent year-on-year. The average OTC leveraged revenue per client also managed to rise in the quarter by 9 percent, reaching £1,330.

High Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term continues into Q4 for IG Group

The high level of volatility that occurred in the final week of February has continued into March, the online trading provider said in the statement. Already, in the first 12 trading days of the fourth quarter, revenue is estimated to be around £52 million.

“These are extraordinary times,” IG Group said in the statement. “This sustained level of volatility and revenue is unprecedented, and it is not possible to determine how long it will persist or how clients will continue to respond.

“In addition, the actions of governments and regulators are not predictable, and the Group may face circumstances and events it has not previously anticipated. It therefore remains difficult to predict accurately the level of revenue in the final quarter of this financial year.”