LeapRate has learned via regulatory filings in the UK that Peter Hetherington, CEO of online trading firm IG Group Holdings plc (LON:IGG), purchased £1.1 million in shares of his own company today.
Mr. Hetherington bought 200,000 IG shares at £5.496 per share in open market purchases. The transaction was completed after IG Group reported its first half fiscal 2017 results earlier this morning, indicating that IG Group saw record Revenues in both the first half and second quarter of the fiscal year.
Management and insiders at publicly traded companies are prevented from making purchases or sales of securities of their company from the end of a fiscal period, until the results are publicly announced.
Despite IG’s record results and fairly rosy outlook provided, IG shares have traded down 1.5% on the day, and remain in an overall funk since the FCA introduced new proposed rules for Forex and CFD brokerage in mid December.