City Index Group
Encyclopedia
City Index Group is a broker
providing online financial spread betting
, FX, and CFD trading
. As well as Britain
, it operates in United States
, Australia
, China
, Singapore
, Poland
and Germany
. Today, the group consists of the City Index Limited, Finspreads
, FX Solutions and IFX Markets brands.
. The following year, the group opened offices in Sydney, Singapore and Shanghai to serve clients across the Asia Pacific region. In 2008, City Index Group purchased FX Solutions, a US market leader in retail and white label foreign exchange services. 2009 saw City Index launch City Trading, the first spread betting and CFD trading application for the iPhone.
(CFD) trading function in the UK.
Finspreads - Finspreads
was a leader in interactive online spread betting starting in 1999 before it was acquired by the Group in 2005.
FX Solutions - Foreign exchange broker
FX Solutions was founded in 2001 with five employees and operates today with 70. In 2003 the company began live trading on its online trading system and in 2008 was acquired by the City Index Group. The company was recognised as one of America's fastest growing private companies by Inc. magazine
in 2005, 2006 and 2007.
IFX Markets - As a provider of margined
Forex, their electronic trading platform
provides real-time tradeable prices in 48 spot currency pairs, including gold
& silver
and 40 IMM
and FINEX
EFP contracts.
. The innovation contributed to the company's entire mobile trading offering being named 'Best Mobile Trading Platform' at the MoneyAM Online Finance Awards 2010 and 2011.
Broker
A broker is a party that arranges transactions between a buyer and a seller, and gets a commission when the deal is executed. A broker who also acts as a seller or as a buyer becomes a principal party to the deal...
providing online financial spread betting
Spread betting
Spread betting is any of various types of wagering on the outcome of an event, where the pay-off is based on the accuracy of the wager, rather than a simple "win or lose" outcome, such as fixed-odds betting or parimutuel betting. A spread is a range of outcomes and the bet is whether the outcome...
, FX, and CFD trading
Contract for difference
In finance, a contract for difference is a contract between two parties, typically described as "buyer" and "seller", stipulating that the buyer will pay to the seller the difference between the current value of an asset and its value at contract time...
. As well as Britain
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
, it operates in United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
, Australia
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
, China
China
Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...
, Singapore
Singapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
, Poland
Poland
Poland , officially the Republic of Poland , is a country in Central Europe bordered by Germany to the west; the Czech Republic and Slovakia to the south; Ukraine, Belarus and Lithuania to the east; and the Baltic Sea and Kaliningrad Oblast, a Russian exclave, to the north...
and Germany
Germany
Germany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...
. Today, the group consists of the City Index Limited, Finspreads
Finspreads
Finspreads is an online financial spread betting firm that offers customers access to various instruments on the world’s financial markets through online and mobile trading platforms...
, FX Solutions and IFX Markets brands.
History
City Index was established in 1983. In 2001, the company launched its CFD Trading function in the UK. During 2005, City Index Group acquired the IFX Group, in doing so procuring FX broker IFX Markets and spread betting provider Finspreads.comFinspreads
Finspreads is an online financial spread betting firm that offers customers access to various instruments on the world’s financial markets through online and mobile trading platforms...
. The following year, the group opened offices in Sydney, Singapore and Shanghai to serve clients across the Asia Pacific region. In 2008, City Index Group purchased FX Solutions, a US market leader in retail and white label foreign exchange services. 2009 saw City Index launch City Trading, the first spread betting and CFD trading application for the iPhone.
Brands
City Index Limited - Established in 1983 as one of Britain’s first spread betting providers, the company carried on growing - and in 2001 launched its Contract for differenceContract for difference
In finance, a contract for difference is a contract between two parties, typically described as "buyer" and "seller", stipulating that the buyer will pay to the seller the difference between the current value of an asset and its value at contract time...
(CFD) trading function in the UK.
Finspreads - Finspreads
Finspreads
Finspreads is an online financial spread betting firm that offers customers access to various instruments on the world’s financial markets through online and mobile trading platforms...
was a leader in interactive online spread betting starting in 1999 before it was acquired by the Group in 2005.
FX Solutions - Foreign exchange broker
Broker
A broker is a party that arranges transactions between a buyer and a seller, and gets a commission when the deal is executed. A broker who also acts as a seller or as a buyer becomes a principal party to the deal...
FX Solutions was founded in 2001 with five employees and operates today with 70. In 2003 the company began live trading on its online trading system and in 2008 was acquired by the City Index Group. The company was recognised as one of America's fastest growing private companies by Inc. magazine
Inc. (magazine)
Inc. magazine, founded in 1979 and based in New York City, is a monthly publication focused on growing companies. The magazine publishes an annual list of the 500 fastest-growing private companies in the U.S., the "Inc...
in 2005, 2006 and 2007.
IFX Markets - As a provider of margined
Margin (finance)
In finance, a margin is collateral that the holder of a financial instrument has to deposit to cover some or all of the credit risk of their counterparty...
Forex, their electronic trading platform
Electronic trading platform
In finance, an Electronic trading platform is a computer system that can be used to place orders for financial products over a network with a financial intermediary. This includes products such as shares, bonds, currencies, commodities and derivatives with a financial intermediary, such as a...
provides real-time tradeable prices in 48 spot currency pairs, including gold
Gold
Gold is a chemical element with the symbol Au and an atomic number of 79. Gold is a dense, soft, shiny, malleable and ductile metal. Pure gold has a bright yellow color and luster traditionally considered attractive, which it maintains without oxidizing in air or water. Chemically, gold is a...
& silver
Silver
Silver is a metallic chemical element with the chemical symbol Ag and atomic number 47. A soft, white, lustrous transition metal, it has the highest electrical conductivity of any element and the highest thermal conductivity of any metal...
and 40 IMM
International Monetary Market
The International Monetary Market , a spin-off from the old Chicago Mercantile Exchange and largely the creation of Leo Melamed, is today one of three divisions of the Chicago Mercantile Exchange , the largest futures exchange in the United States and the second largest in the world after Eurex,...
and FINEX
New York Board of Trade
The New York Board of Trade , renamed ICE Futures US in September of 2007, is a wholly owned subsidiary of IntercontinentalExchange . It is a physical commodity futures exchange located in New York City. It originated in 1870 as the New York Cotton Exchange...
EFP contracts.
iPhone trading platform
In October 2009, City Index launched City Trading, a mobile spread betting application for the iPhoneIPhone
The iPhone is a line of Internet and multimedia-enabled smartphones marketed by Apple Inc. The first iPhone was unveiled by Steve Jobs, then CEO of Apple, on January 9, 2007, and released on June 29, 2007...
. The innovation contributed to the company's entire mobile trading offering being named 'Best Mobile Trading Platform' at the MoneyAM Online Finance Awards 2010 and 2011.