Got this email today.
I can only guess its a loss making operation. Should I be concerned?
As a valued client we want to inform you that due to the success of our CFD business, IG Markets, we have made the decision to no longer open any spread betting accounts through IG Index.
What does this mean for you?:
After Monday 11 May 2009, you will no longer be able to open new trades with IG Index; we will be accepting closing trades only. Closing trades can be placed right up to the 30 June 2009. From this date we will also be removing any existing rollover instructions. If you have any positions that expire after 30 June 2009, please contact your account manager on 1800 601 777 to discuss your options.