Then and Now: the Growth of Financial Spread BettingBy City Index, PRNE
Tuesday, September 27, 2011
LONDON, September 28, 2011 -
Since the introduction of technology such as online and mobile trading platforms, financial spread betting has become a mainstream vehicle for speculating on financial markets such as indices, currencies and commodities. Here, City Index (www.cityindex.co.uk/) maps the key stages in the rise of spread betting.
Financial spread betting was first introduced in 1974 in the UK.
The economic boom paved the way for more spread betting providers to arrive, the first of which was City Index in 1983. At this point spread betting was still growing and only a very small percentage of the population had embraced it. This was partly because the financial spread betting companies were only setting prices for commodities, currencies, options and indices, whereas the public at the time were used to investing in familiar stocks and bonds.
With the 1990s came the technology boom and spread betting changed forever. Dotcom shares flew upwards and global market activity became front page news. All of this helped financial spread betting to attract a more computer-focused, younger generation of traders. Over time, spread betting went on to reach across every financial market, including shares, bonds, interest rates and futures.
Faster computers and online trading platforms came about around the time of the turn of the century. These advances allowed financial spread betting providers to cover more markets and more data, as well as doing so more quickly. It also made spread betting more available to the average investor and sparked another boom for the industry. City Index went on to launch the industry’s first live spread betting app for the iPhone™ in 2009.
Learn more about spread betting at www.cityindex.co.uk/spread-betting/
Spread betting and CFD trading are leveraged products which can result in losses greater than your initial deposit. Ensure you fully understand the risks.
*Spread betting and CFD trading are exempt from UK stamp duty. Spread betting is also exempt from UK Capital Gains Tax. However, tax laws are subject to change and depend on individual circumstances. Please seek independent advice if necessary.
Apple, the Apple logo, iPod, iPod touch, and iTunes are trademarks of Apple Inc., registered in the U.S. and other countries. iPhone is a trademark of Apple Inc. App Store is a service mark of Apple Inc.
About City Index:
Today more and more individual traders are discovering the benefits of derivatives, and many of them are discovering them through a City Index trading platform.
As a group, we transact in excess of 1.5 million trades every month for individuals in over 50 countries worldwide. We provide access to a wide range of instruments including margined foreign exchange, CFD trading and, in the UK, spread betting.
We constantly look to widen the range of assets we offer, improve the performance of our platforms and expand the range of services we provide. The result is that our customers benefit from innovative trading tools with transparent pricing, competitive spreads, and a high standard of customer service and support.
Contact: Joshua Raymond, City Index Group, www.cityindex.co.uk/, Tel: +44(0)20-7107-7002, Email: joshua.raymond[at]cityindex.co.uk
Tags: City Index, London, September 28, United Kingdom