IG Group takes small US step

1st Apr 2010 11:53

Spread bet firm IG Group has made its first steps into the US market after its US retail-focused futures exchange, Nadex, received a change of designation to enable it to accept clients via Futures Commission merchants or brokers.IG added its US FCM subsidiary, IG Markets Inc, will begin to offer Nadex products during April. Nadex has begun discussions with other FCMs, but the talks are at an early stage and it is likely to be some months before the first of these arrangements comes to fruition. The US operation is not expected to be a material source of revenue in the near term, IG added.