IG's OTC Retention Slips, Pushing Q3 Revenue Expectation at 14% Lower
By Arnab Shome
AI summary of the source article
IG Group Holdings expects total revenue for the three months ended 30 September 2026 to fall roughly 14% year-on-year to about £240 million, with net trading revenue reaching around £210 million. CEO Breon Corcoran attributed the drop to reduced OTC revenue retention of approximately 70% in less supportive market conditions, compared to an 80% average since H2 2025. Still, organic active customers rose about 17% and first trades climbed over 25%. Additionally, Q3 net revenue for prediction markets subsidiary Underdog jumped more than 100% to roughly $105 million as IG pursues its acquisition to build a customer funnel into financial markets.
Why it matters
IG is managing near-term revenue volatility in OTC retention while pursuing its acquisition of Underdog to build a customer funnel from prediction markets to mainstream financial markets.
Key facts
- IG Group expects Q3 total revenue of about £240 million, down approximately 14% from £280.1 million a year earlier.
- OTC revenue retention dropped to approximately 70% in Q3, down from an 80% average since H2 2025.
- Prediction markets subsidiary Underdog generated roughly $105 million in Q3 net revenue, up over 100% year-on-year.