IG Group Connects to Equities Trading Platform17th November 2009 9:02 am GMT
Building on its leading position within the CFD trading and financial spread betting markets, IG Group has announced the launch of its Smart Order Routing service, offering retail customers the opportunity to trade with the growing number of Multilateral Trading Facilities (MTFs) including Chi-X Europe and Turquoise.
Providing clients with unparalleled access to liquidity in individual stocks, Smart Order Routing searches out the best offered price for clients across multiple liquidity venues.
Covering in excess of 1,000 European-listed equities, the technology also offers clients the alternative of free price and depth of market feeds on the respective stocks where previously they may have had to pay to receive live exchange data.
"We are delighted that IG Group is the first retail CFD provider to connect to Chi-X Europe," said Hirander Misra, Chief Operating Officer of Chi-X Europe. "We consistently represent 25% of all trading in FTSE 100 stocks and over 15% of the leading European indices.
"Trading on Chi-X Europe delivers measurable price improvement and we are pleased that IG Group's clients will now be able to trade on our MTF."
Chi-X Europe operates the largest pan-European equity multilateral trading facility (MTF). According to Chi-X, MTFs are seeing rising levels of popularity, with up to 40% of FTSE-100 share transactions now taking place away from the main exchange.
"This is the latest innovation by IG Group to ensure we continue to build on our position as the worldwide market leader for CFD trading and financial spread betting," said Tim Howkins, Chief Executive of IG Group. "As a result of this move, clients will now be able to see greater liquidity and get even better prices when they trade with either IG Markets or IG Index."
IG Index and IG Markets clients will be able to trade online, over the telephone or via mobile devices such as the iPhone. Customers will also have access to training and education through IG's TradeSense programme, specifically designed to help those new to trading to understand the financial markets and risk-management tools they have at their disposal.
Shares in IG Group Holdings plc (Co. Profile) (LSE:IGG) have fallen 1.41% to 315.50 pence per share in London this morning.