Nadex receives change of regulatory designation
We are pleased to announce that Nadex, the Group's CFTC regulated exchange, has received the change of regulatory designation which will allow it to accept clients via Futures Commission Merchants ("FCMs").
This change represents the first step in the Group's strategy to address the US market. It is anticipated that the Group's US FCM subsidiary, IG Markets Inc, will begin to offer Nadex products during April. Nadex has begun discussions with other FCMs with a view to them offering Nadex products to their clients in due course. These discussions are at an early stage and it is likely to be some months before the first of these arrangements comes to fruition. The Group's operations in the US are therefore not expected to be a material source of revenue in the near term.