IG Group Considers Shifting Primary Listing from London to New York

IG Group Holdings Plc is considering a strategic move of its primary listing from London to New York to expand its presence in a major global financial market. The online trading firm confirmed it is reviewing its listing venue, legal domicile, and potential acquisitions as part of a broader strategic growth plan.

Chief Financial Officer Clifford Abrahams told Bloomberg that a potential U.S. listing could strengthen IG's competitive position, attract new investors, and create a larger pool for deal-making. He added the move could also benefit employees through enhanced access to global capital markets.

The company's latest financial reports indicated the board is conducting a wide-ranging review of strategic options. This includes evaluating acquisitions to accelerate growth and potentially changing its legal base and share trading location to free up capital and increase flexibility.

If IG proceeds, it will follow other UK-listed companies that have relocated to Wall Street, such as Wise Plc and CRH Plc. Despite preparing to join the FTSE 100, IG aims to ensure long-term competitiveness as U.S. market valuations and liquidity continue to attract global firms.

This review aligns with a broader trend among CFD-focused brokers looking to the U.S. for growth. Plus500 has built a significant U.S. futures business while maintaining its London listing, and CMC Markets is pursuing a multi-asset strategy with growing non-CFD revenue, also keeping its UK listing.

IG reported record revenue for the 2025 calendar year, though profitability metrics faced pressure. Total revenue rose 7% to £1,123.4 million, driven by a 10% increase in net trading revenue to £1,004.6 million. Net interest income fell 16% to £118.8 million due to lower benchmark rates.

EBITDA increased 1% to £531.1 million, but the EBITDA margin declined from 49.9% to 47.3%, reflecting a business model shift toward trading income and higher operating costs. Adjusted EPS rose 5% to 115.3 pence, aided by share buybacks, while basic EPS jumped 29% to 130.0 pence, boosted by a one-off gain from the sale of Small Exchange.

Separately, IG named Andrew Barron as Chair Designate and Non-Executive Director, succeeding Mike McTighe pending regulatory approvals.