LONDON, June 27, 2011 /PRNewswire/ --
IG Markets, a leading CFD trading and forex company and sponsor of Team Sky, is proud to announce the launch of the IG Markets Pro Cycling Index, which aims to provide sports fans, the media and stakeholder groups with a comprehensive means of assessing the achievements of cycling's top riders.
The IG Markets Pro Cycling Index draws on IG's core competency of understanding complex markets and aims to shine a light on the sport's pecking order to bring it into line with readily understood classifications in other sports, such as those in tennis and golf.
Drawing on the expertise of leading sports data provider Opta, who have produced similar rankings for other major sports, and a panel of leading cycling journalists and former professional riders, the IG Markets Pro Cycling Index has been devised by creating a system of weightings and bonuses which are applied to the sport's many different levels of racing.
"As IG Markets have always been about innovation and making markets easier to access, creating a new Index for professional cycling is a natural extension of our business and our involvement in the sport," commented Olly Stevens, Brand Director, IG Group.
"Opta is very excited to be involved in such an innovative project. The IG Pro Cycling Index should give cycling fans the most thorough indicator yet of just who are the top performing riders in the sport." Duncan Alexander, Head of UK Media, Opta.
The IG Markets Pro Cycling Index will be updated daily during Grand Tours and updated at the beginning of every week during the season.
Riders score points for wins and placings, but with a steep drop-off between a win and the rest of the podium and minor placings. The Index also rewards excellence with bonus points for back to back wins for major race wins in the same season, multiple stage wins, queen stage victories and a 'Rider of the Day' award during the Grand Tours.
Full details of the workings of the Index and the bonus system visit
Comment from a key cycling journalist:
'Who's the best?' a topic that's been hotly debated by cycling fans for many years. I believe the IG Markets Pro Cycling Index will help answer the question. A system that fairly awards the different disciplines, rider-types and races will also go a long way to helping casual followers of cycling gain a greater understanding of how the sport works."
Alasdair Fotheringham, Reuters and The Independent (IG Markets Expert Panel member)
About IG Markets:
IG Markets is an international financial derivatives company, offering clients the ability to trade on over 8,000 shares, indices, currencies, commodities and treasuries from markets across the globe. IG Markets is part of IG Group (IGG.L), which employs in excess of 900 people and has offices in 14 countries worldwide.
Opta are Europe's leading sports data company. They collect, package and distribute information on around 60,000 fixtures every year, from over 30 different sports in around 70 countries and since their inception in 1996 they've built up the most comprehensive historical sports database in the world. This means that they understand sport, and they understand the part that data, information and statistics have to play in the fabric of sport. Their mission is to make sense of stats, bringing the data to life in a way that everyone can understand.
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SOURCE IG Markets