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Spread-better IG to offer different type of Sunday service

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There’s no such thing as a lazy Sunday afternoon for IG Group (LON:IGG).

The London-based spread-better, undeterred by its £30mln currency hit from the recent Swiss franc crisis, is starting a Sunday trading service, which it claims is a first.

Stock enthusiasts can now place positions on the FTSE 100, Germany’s CAC 30 and Wall Street markets from 8am to 10.40pm Sunday.

Clients will also be able to speculate on the outcome of the upcoming UK general election and bet on the next US president. 

IG says the service allows traders to offset traditional weekday positions, reducing risk and margin if news breaks over the weekend.

Matt Brief, head of dealing, said: “Global news which impacts the financial markets does not stop on a Friday and restart on a Monday, and neither does clients’ desire to react to that news,” he added.

Earlier this month chief executive Tim Howkins said profit and earnings would be negatively affected by client debts associated with the Swiss franc movement.

“We will seek to learn lessons from this incident which we can incorporate into our risk management approach going forward,” Howkins said.

Quick facts: IG Group

Price: 765 GBX

LSE:IGG
Market: LSE
Market Cap: £2.83 billion
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