City Index gets £70m lifeline from its owner

LONDON - City Index has received a £70 million ($99 million) lifeline from its owner, Michael Spencer, following losses by clients on equity contracts for differences (CFD), according to media reports.

The London-based broker required re-capitalisation after £43 million losses related to equity bets by clients, with a single client losing £29 million on a bet on a Spanish company. Media reports say that the broker has appointed new risk and credit committees as a result, with client positions

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact customer services - www.fx-markets.com/static/contact-us, or view our subscription options here: https://subscriptions.fx-markets.com/subscribe

You are currently unable to copy this content. Please contact info@fx-markets.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to FX Markets? View our subscription options

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: