Execution of a high-level Moomoo officer has been replaced by new CEO position at IG Singapore after a span of five years.

IG Group Expands Offerings with Daily Options on Tesla Shares

In a significant move, IG Group, a leading online trading and investment platform, has introduced daily options on Tesla shares. This is the first product of its kind globally for an individual stock.

The announcement was made on Tuesday, with IG Group sharing the update on LinkedIn. Gavin Chia, the newly appointed Chief Executive Officer of IG Singapore & Emerging Markets, commented on the move, stating, "Singapore is a hub for increasingly sophisticated investors, and IG is well-placed to serve clients seeking greater choice and deeper market access."

Chia, who previously served as CEO of Moomoo Singapore for over two years and acted as COO, brings a wealth of experience to the role. Before joining Moomoo, he was Managing Director at Futu Singapore, and at Moomoo Singapore, he oversaw regulatory approvals, product launches, and regional expansion.

IG's new offering, available for trading via spread betting and contracts for difference on IG's platform, from Monday through Thursday, features same-day expiry contracts. This move aligns with IG's "Save Our Stock Market" campaign, which encourages retail investment in UK-listed companies.

The objectives of the UK government's Leeds Reforms also aim at increasing retail market participation. IG Group's expansion into daily options on Tesla shares could be seen as a response to these reforms, providing retail investors with more opportunities to participate in the stock market.

William Mead, who has served in multiple positions at IG Group for several years, has been appointed as the Head of Operations. Prior to his current role, Mead held the positions of Head of Trading Operations and Global Head of Credit and Client Money at IG Group, both based in London. However, information about Mead's previous occupation at IG Group before becoming Head of Operations was not provided in this paragraph.

It's important to note that no information about Moomoo moving beyond stocks with a US crypto launch backed by Coinbase was provided in this announcement.

As IG Group continues to expand its offerings, it remains committed to providing its clients with the tools they need to make informed investment decisions. With the introduction of daily options on Tesla shares, IG Group is demonstrating its commitment to innovation and meeting the evolving needs of its clients.

Execution of a high-level Moomoo officer has been replaced by new CEO position at IG Singapore after a span of five years.