Online trading platform IG is expecting net trading revenue for fiscal 2018 to come in higher than the previous year, with other key figures also up on previous guidance.
Trading revenue is now expected to be around £565 million, up from £491 million last year. Operating expenses for fiscal 2018 are expected to be around £254 million, with the group’s charge for variable remuneration is expected to be at £36 million, up from £24 million last year.
However, the group is likely to suffer a hit from new regulatory measures put in place by the European Securities and Markets Authority, meaning fiscal revenue for 2019 is likely to be lower than for this year.
IG also confirmed that Chief Commercial Officer Bridget Messer and Chief Information Officer Jon Noble had been appointed as Executive Directors to the board, taking effect from 1st June 2018.
