Record daily UK trades for LCG
H2 revenues increase 52% year-on-year thanks to recent volatility.
The London Capital Group (LCG) saw UK financial spread betting trades reach record levels in the financial year ended 31 December, the company revealed in its full-year trading update.
Average trades per day increased 10.8% to 33,042, while net revenue per active client rose 7% year-on-year to £1,370.
Revenue for the second half of 2011 was up 52% to £20.7m thanks to “recent volatility”, with a full-year revenue increase of 13%.
The company’s full-year results – due in on 22 February – are described by LCG as being “In line with current market expectations.”
Last year an assessment from the Financial Ombudsman Service raised the possibility of LCG being forced to pay £7.7m compensation over a failed fund, and today the group announced that “There has been no material change to the Financial Ombudsman Service claims,” adding that it would “Update the market when further information is available”.