IG Group is seeking shareholder approval to establish a Jersey holding company as part of a strategic restructuring, while reporting first-half revenue jumped 18% to £643 million. The move aims to provide greater financial flexibility as two-thirds of revenue now comes from outside the UK, though its London listing and tax residency remain intact. Separately, Swiss banking group J. Safra Sarasin is completing full ownership of Saxo Bank by acquiring founder Kim Fournais’ remaining 28.69% stake, following its 70% majority purchase earlier this year. The deal awaits regulatory clearance, with Saxo maintaining independent operations and Fournais staying on as Chairman. Meanwhile, Trade Nation expanded into the European Union through a newly licensed Portuguese entity, allowing CFD product passporting across the bloc.
Market implications center on consolidation momentum and jurisdictional repositioning among brokers seeking operational efficiency and market access.
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FXnCO Insight
** Brokers are aggressively restructuring for tax optimization and regulatory access, signaling continued M&A activity and cross-border expansion ahead.
Source: Finance Magnates