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Online trading platform IG's revenue surges after stellar 2020

March 11 (Reuters) - Online trading platform IG posted a surge in third-quarter revenue despite a tough comparative, driven by high levels of trading during the period that saw a so-called retail frenzy in financial markets.

The company, which withdrew some of its riskier products after the retail phenomenon that propelled shares in some beaten-down U.S. stocks to disproportionate levels, said revenue jumped 65% to 230.3 million pounds in revenue for the three months ended Feb. 28.

Last year’s revenue had come against the backdrop of a pandemic-led selloff in financial markets and a crash in oil prices due to price wars between Saudi Arabia and Russia. (Reporting by Muvija M and Indranil Sarkar in Bengaluru; editing by Uttaresh.V)

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