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IG Group registers drop in revenues in H1 FY24 amid softer market conditions
Electronic trading major IG Group Holdings plc (LON:IGG) today announced its results for the six months ended 30 November 2023 (“H1 FY24”). Total revenue was £472.6 million in H1 FY24, down 9% on H1 FY23. OTC derivatives total revenue was £352.6 million, down 17% reflecting softer market conditions in the period, and lower levels of client activity. Exchange traded derivatives total revenue was £99.7 million, up 19% on the prior period. This includes tastytrade total revenue of £94.3 million, up 21%, benefitting from both increased interest rates and higher cash balances, offset by a reduction in net trading ... (full story)