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Online trading platform IG reported better-than-expected third-quarter performance and said it was on track to achieve its three-year revenue target in its significant opportunities portfolio by year-end, one year ahead of the target.
'The continued performance from the significant opportunities portfolio has been remarkable, and we anticipate substantially achieving the revenue target of £160 million one year ahead of plan,' the company said.
For the three months to 28 February 2021, revenue grew 65% to £230.3 million year-on-year.
The growth was driven by a combination of sustained elevated levels of trading from IG's existing clients and continued high levels of client acquisition with a record 230,100 clients active in the quarter, representing growth of 60% year over year.
The level of revenue per client for the group's OTC leveraged clients was maintained at similar levels to those reported in Q1 and Q2 FY21 and 9% higher than the prior year period.
Year-to-date revenue in the significant opportunities portfolio was £113.9 million, 77% higher than the prior year period.
Looking ahead, the planned US acquisition of tastytrade was progressing well, it added.