IG Group Holdings plc today revealed its plans to sell North American Derivatives Exchange, Inc. (Nadex) and Small Exchange, Inc., of which the IG owns 39%. The deal is with Foris DAX Markets, Inc., part of the group of companies trading as “crypto.com”
The sale is going to be a cash transaction of $216 million for both companies. The deal is expected to close in the first half of 2022.
IG noted that the transaction does not have a big impact on the full-year adjusted operating profit expectations.
We’re really excited by this deal, as it delivers a significant return on the previous investments made in Nadex and Small Exchange and enables additional investment across all our businesses.
This deal also allows us to further sharpen our focus on integrating and expanding the US options and futures business through our tastytrade and tastyworks franchises, both in the US and internationally, where we see significant room for growth.
Independent writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.