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Selling short on spreadbet into administration


nr903455

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Hi all,

Does anyone know how IG settles spread bet trades where an equity delists/ultimately files for administration? It's more obvious when you own shares (ultimately get wiped out), but when you short via spread bet there isn't a publicly available price, does IG settle it at zero? For example, McColl's delisted and is still listed at 0.0001 on IG (not tradeable) - is this the settlement price?

Thanks

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11 hours ago, nr903455 said:

Hi all,

Does anyone know how IG settles spread bet trades where an equity delists/ultimately files for administration? It's more obvious when you own shares (ultimately get wiped out), but when you short via spread bet there isn't a publicly available price, does IG settle it at zero? For example, McColl's delisted and is still listed at 0.0001 on IG (not tradeable) - is this the settlement price?

Thanks

Dear @nr903455,

Thank you for your post. Please note that we close the position at a level of zero upon your written consent only if you are long. For short positions, it is different because we would have to wait for the company to finish their delisting process, which could take years.

Thanks!

KoketsoIG

- KoketsoIG

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