Broker IG pulls some of its riskier products after GameStop frenzy
( go to the article → https://datafloq.com/read/broker-ig-pulls-riskier-products-gamestop-frenzy/12643 )
(Reuters) - London-listed trading platform IG said on Monday it would withdraw a number of its riskier equities products after a frenzy of stock market bets by small U.S. investors earlier this year triggered huge swings in some share prices. In response to a story by the Financial Times, IG said it would be withdrawing less than 8% of the 12,000 leveraged equities products it offers. Leveraged products allow traders to increase their exposure to the market with a relatively small capital investment. Big bets by individual investors, particularly in the shares of U.S. retailer GameStop, have triggered massive price swings in some stocks around the world, leading some people to make hefty profits but leaving others facing large losses. Along with rivals CMC ...Read More on Datafloq
Feb. 22, 2021, 6 p.m.