Plus500 informs about the impact of Brexit on its business
Plus500 has issued an announcement to inform about the impact of exceptionally volatile trading following the United Kingdom’s Referendum decision to leave the European Union.
The market dislocation and extreme volatility has not adversely affected the Group’s financial position. The UK represented 15% of 2015 revenue and the company continue to have a diverse international customer base.
According to Plus500, the Company’s proprietary risk management system ensures that overall exposures to a single instrument are unlikely to have a material impact on the Company’s financial position. No credit exposure was incurred due to the fact that Plus500’s customers cannot lose more than they deposit. The day’s volatility led to record spreads being recorded.
Friday also resulted in a number of significant records for Plus500: most signups (17,000) and most new customers (1,600).
Trading for the period since the last trading update issued on 18 April has continued to be robust and in line with expectations.
Source: Plus500 – Statement on impact of EU Referendum
