Financial spread betting firm City Index has been fined around £0.5m for incomplete transaction reporting, prompting a widespread realignment of the importance of accurate record keeping across the spread betting industry.
Leading financial spread betting broker City Index has been fined £0.5m by the Financial Services Authority after widespread inaccurate transactional reporting, prompting the spread betting industry to tighten reporting measures and improve the standard of their record keeping.
Some 60% of trades were inaccurately reported by City Index from 2007-2009, totalling around 2 million individual transactions, with a further 55,000 going …

Competition in financial spread betting is intensifying day by day and we hardly have to wait for a week before a new spread betting broker emerges or existing one cuts the spreads on popular markets.
It has hardly been a few months since Capital Spreads slashed their spreads on currency markets sending GBP/USD spread to just 2 pips and EUR/USD to the ultra tight spread of just 1 pip.
Just a few weeks back IG Index puts more pressure on Capital Spreads with introducing extremely …