18(a) Describe the mission/purpose of your proposed gTLD
|gTLD||Full Legal Name||Detail|
|.markets||IG Group Holdings PLC||View|
THE MISSION AND PURPOSE OF THE NEW RESTRICTED .MARKETS GTLD IS TO BENEFIT INTERNET USERS BY ENSURING INCREASED TRUST, USER CONFIDENCE AND UTILITY BY PROVIDING BETTER PRODUCT KNOWLEDGE AND THE ELIMINATION OF USER CONFUSION.
The .markets gTLD will create a new generation gTLD serving the interests of end users by providing an authoritative Internet space for information, services and resources regarding financial derivative markets and trading via IG Group Holdings plc (IG Group). .markets will facilitate IG Group to offer its customers easy access to Pure Deal, its multiple-award-winning, browser-based dealer platform to trade on the markets quickly and securely. The majority of the anticipated domain name registrations in the .markets gTLD will be used in the promotion and communication of the diverse trading options (such as contracts for the difference (CFDs) trading and market trading) offered by IG Group, its affiliates and partners. A subset of domain names has the potential to be created and used for communication and marketing purposes, with internet users assured of the legitimacy of the trading options and products offered by IG Group.
IG Group is a world-leading provider of financial spread betting and contracts for difference trading. IG Group was established in 1974, has its headquarters in London and operates globally with 14 global offices in several European countries, Japan, Singapore and Australia. IG Group is listed on the London Stock Exchange, is a member of the FTSE 250 and has a market capital value of GBP 1.7 billion (as at October 2011). IG Group is a world-leading provider of financial derivatives. IG Markets, as part of the IG Group, offers CFDs to a global audience. In the year to May 2011, IG Group achieved a turnover of £320.4 million, and generated a record adjusted profit before tax of £163.0 million. IG Group’s online trading platform (IG Trader⁄Pure Deal) was named Best CFD Platform in 2008 and 2009 by the readers of Spanish weekly financial magazine Mi Cartera de Inversión. The .markets gTLD will increase customers’ trust in the financial derivatives markets as a transparent and viable investment opportunity offered in a secure and easily accessible environment by a world-leading provider. The .markets gTLD will allow IG Group to provide market and CFD resources and potential services to online customers in a secure, interactive and authoritative internet space.
New market opportunities are increasingly offered over the internet, presenting customers with a wider choice of easily accessible investment products. As a result, both businesses and end users benefit from ease of interaction and a wider range of choices with lower transaction costs. However, the developments in the financial arena in the current domain name system have exposed customers to confusion and have exposed both businesses and consumers to increased criminal activities over the internet, including data breach, hacking and phishing. These sophisticated criminal activities cause reputational damage to businesses as internet users lose consumer confidence and trust with the businesses targeted by such criminal activities. The .markets gTLD will facilitate greater trust and assurance from internet users, potentially offering market services and reliable educational content relating to markets and CFDs in a secure online environment provided by IG Group, whilst still allowing convenient and efficient interaction.
IG Group’s mission and purpose of the proposed new gTLD share ICANN’s initiatives to promote public interest. IG Group is committed to contribute towards achieving such initiatives in line with ICANN’s Affirmation of Commitments, which includes:
- consumer trust: the .markets gTLD registry will be operated in a centralised manner with a restrictive registration policy. Registration of domain names will only be available to IG Group and its affiliate entities, at this stage, which will provide added consumer reassurance that .markets domain names are trustworthy, offering consumer confidence in service delivery through a trusted provider in the market. As .markets domain names are subject to registration standards, policies and procedures under IG Group’s control, this eliminates the possibility of malicious conduct within the .markets domain space;
- competition: the proposed new gTLD is not directly intended to instigate competition and consumer choice at the level of registration of domain names. Instead it is anticipated to contribute to ICANN’s initiatives to promote public interest through its operation focused on promoting consumer trust, security and internet stability. Increased trust in .markets will drive existing and new top level domain (TLD) registry operators to make improvements in mechanisms to improve consumer trust of their TLDs; and
- consumer choice: the proposed .markets gTLD will enable user-driven improvements and innovations assisting IG Group’s efforts to inform consumers on safe and secure trading on the markets via its ability to create new second and third level domain names on demand. These names will provide the consumers with more informed choices for trading on the markets via IG Group. As IG Group has effective control over the registration and use of domain names under .markets domain space, this will also contribute towards general service innovations on the internet as a new outlet for improved services.
Given the restricted nature of the .markets gTLD, the projected number of registrations is likely to be limited. It is anticipated that only 5-15 domain names will be registered in the first few years. However, over the next few years, the number of registrations is likely to increase as IG Group develops and implements new services and marketing campaigns. As the new .markets gTLD expands and evolves, IG Group may consider offering the use of second level domain names to its core trading customers at a later date, for use as a unique and personal login and access to IG Group’s trading tools and platform. In this endeavour, IG Group will continue to comply with all operational, technical and policy requirements, as well as maintaining consumer trust and the stability of the internet. IG Group will keep ICANN reasonably informed of any material developments relating to .markets gTLD including compliance with the continued operations instrument obligations as set out in Specification 8 of the Registry Agreement.
IG Group intends to create relevant domain names for use including brand, services and sub types in the second or third level domain names. In accordance with registration policies and the proposed measures for protection of geographic names as outlined in response to Question 22, IG Group will use geographic names to localise its websites in the countries in which it operates. The use of geographic names is intended to:
- connect internet users with relevant information as applicable to the territory; and
- comply with required rules and regulations in the national territory.
IG Group has existing domain names containing the word “markets”, including:
- gTLDs: ig-markets.com,igmarketsasia.com,igmarketspro.com;
- country-code TLDs (ccTLDs): igmarkets.co.nz, igmarkets.org.uk.
IG Group believes that the .markets gTLD is unlikely to cause confusion with either a generic term or any existing TLDs. IG Group has used the term “markets” in conjunction with its core business for over 35 years since its establishment. IG Group is a global leader on the online financial derivatives markets with significant reputation in the financial industry.
Similar gTLD applications: (6)
|gTLD||Full Legal Name||Detail|
|.trading||IG Group Holdings PLC||View|
|.spreadbetting||IG Group Holdings PLC||View|
|.broker||IG Group Holdings PLC||View|
|.cfd||IG Group Holdings PLC||View|
|.nadex||IG Group Holdings PLC||View|
|.forex||IG Group Holdings PLC||View|