LONDON, March 19, 2026, 18:01 GMT
IG Group is considering shifting its listing away from London, possibly over to the U.S., after launching a strategic review Thursday—a move that, if finalized, would deal another blow to London’s stock exchange. The spread-betting and CFD broker, which lets clients speculate on price swings without actually owning assets, rolled out the review alongside record revenue projections for 2025 and a fresh £125 million share buyback. The review should wrap up by autumn. Reuters
Timing is key here. IG plans to join the FTSE 100 on March 23, but the board has already started reviewing the group’s domicile, legal setup, and listing options to free up capital and boost its strategic room to maneuver. Reuters pointed out that U.S. exchanges have welcomed sectors like crypto and app-based retail trading, with greater liquidity and richer valuations on offer. Investegate
Breon Corcoran, the chief executive, pointed to record numbers and a pick-up in customer sign-ups as factors letting the company step on the gas. “Now is the time to raise our ambitions,” he said. Corcoran added that technology—and a rising blend of trading with gaming elements—is transforming the landscape for trading and investing. Investegate
Michael Healy, who heads IG’s UK and Ireland business, described the U.S. to Reuters as “a very fast-growing and a highly dynamic market.” Bloomberg, citing finance chief Clifford Abrahams, reported that a U.S. listing could back expansion, tighten links with competitors, help IG hire talent, and provide shares to use in acquisitions. Reuters
Total revenue hit a record £1.1234 billion, up 7% year over year. Net trading revenue came in even stronger, up 10% to £1.0046 billion. EBITDA managed a 1% increase, reaching £531.1 million. For the quarter ending March 31, IG is guiding for roughly £300 million in revenue—a 7% gain—citing surges in volatility and a pick-up in customer activity, most notably during March. IG Group
Still, investors piled in. Reuters said shares climbed 5.5% to hit a fresh record, while both the FTSE 100 and FTSE 250 lost 2.4% amid a broader selloff tied to worries over the Middle East and energy prices. Earlier, the stock had surged as much as 8.6%. Reuters
Retail-trading growth is largely U.S.-driven, which helps explain the company’s focus. Prediction markets—bets tied to actual events—are picking up speed stateside. Reuters reports roughly one-quarter of IG’s current business comes from the U.S. Plus500, a competitor, jumped into the space back in February via a partnership with Kalshi. Reuters
IG’s overhaul of its operations hasn’t slowed. The group wrapped up its purchase of Australia’s Independent Reserve, a crypto exchange, on Jan. 30. This month, spot crypto trading debuted in Australia. Freetrade, meanwhile, now offers zero-commission mutual funds and SIPPs, the UK retirement savings product. IG Group
Barclays analyst Richard Taylor called the review “greater ambition from a position of increased strength and credibility.” On the call with investors, Corcoran pointed to the U.S. and the UK as IG’s two key markets for potential deals. Reuters
Plenty remains unresolved. IG hasn’t clarified whether a U.S. push would involve moving its main listing, or simply adding another. As for restructuring the group’s legal entities, Abrahams said that’s still up in the air—nothing has been finalized, but he flagged the potential to free up capital and gain more leeway. U.S. lawmakers are also eyeing prediction markets, so the biggest gains may hinge as much on regulation as on investor sentiment. Reuters
