Jan 30 (Reuters) - Online trading platform IG Group Holdings
Plc said on Saturday it will restrict any new positions
on GameStop Corp and AMC Entertainment due to
"extreme volatility" in the market.
"Due to extreme volatility, and to prioritise the service we
give our existing clients, we are not allowing any new positions
to be opened on the US stocks GameStop and AMC Entertainment,"
London-based IG said in a tweet https://twitter.com/IGcom/status/1355507435453243402.
"These restrictions will be reviewed regularly," it added.
The company is the latest trading platform announcing
restrictions following a surge in volumes in recent days
stemming from calls on social media by individual investors to
trade stocks like GameStop and AMC that were being heavily
shorted by hedge funds.
On Friday, the U.S. Securities and Exchange Commission waded
into the battle between small investors and Wall Street hedge
funds, warning brokerages and social-media traders it was on
alert for any wrongdoing in this week's roller-coaster trade.
(Reporting by Aakriti Bhalla in Bengaluru; Editing by Mike
Harrison)
IG (IGG)
