IG Group plc (LSE: IGG) is a British-based company trading in financial derivatives and sports betting.

While the majority of the company's activities are based in the UK the company has also expanded internationally.

It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

The company was founded by Stuart Wheeler in 1974 as a spread betting business under the name IG Index (an abbreviation for Investors Gold Index).

In 1982 it started to offer bets on FT 30 companies and in 1995 on all publicly-traded companies.

IG Group has been trying to gain access to the potentially lucrative US market where IG Group's main products, Contracts for Difference and Financial Spread Betting, are currently not legal.

In 2007 it purchased HedgeStreet, a small US based company that developed an electronic marketplace that allows online retail investors to trade financial derivatives.

It renamed this the 'North American Derivatives Exchange' or (NADEX) and has been attempting to use this to develop a product that looks like its binary spread bet product but which meets the US financial regulations and can be offered to retail traders.

In May 2010 it obtained permission from the US Commodity Futures Trading Commission to make various technical changes that move in that direction.

Source: Wikipedia