Launch of Binary Bets Product
By staff
IFX Group plc announces that Finspreads, its financial spread betting arm, has launched a binary bets product in order to compete in this new, high growth segment of the spread betting market. Binary bets are similar to fixed odds bets, where clients know their upside or downside when they trade. Binary bets are typically of very short-term duration, hourly or daily, and give the investor a simple choice about a future event; for example, whether an equity index will finish up or down over a specified time period. Finspreads' binary bets are traded on live streaming prices, and are the first to offer traders the opportunity to place opening and closing limit orders, so allowing greater risk control and flexibility. IFX believes that the binary bets market is a potentially material new revenue stream for the Group. Finspreads' binary bets offering,, was test launched recently to selected existing customers. It has attracted encouraging levels of client activity and has also proven to be operationally robust. It is now being promoted to a wider audience of potential customers and is expected to constitute an important element of the future growth of IFX's Equity Products group, both domestically and internationally. Edmond Warner, chief executive of IFX Group plc, said: 'Product innovation and development have been significant drivers of Finspreads' success. Our binary bets product continues this trend, bringing a fresh approach to the financial spread betting market. 'IFX now has a full suite of retail investment options: Finspreads, MiniCFD's and now binary betting. These innovative products set IFX at the forefront of the retail trading of sophisticated leveraged instruments.'

For further information, call: Edmond Warner, Chief Executive, IFX Group plc 020 7890 8990

David Rydell /Dan de Belder / Paddy Blewer Bell Pottinger Corporate & Financial 020 7861 3232

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