IG Group, a London-based spread betting and CFD trading provider, has reached an agreement to acquire the futures exchange, Small Exchange, from Foris DAX Markets, the parent company of Crypto.com. The deal comes a year after the holding group finalized the sale of its 39% stake in the Chicago-based stock exchange.
In December 2021, IG Group agreed to sell its North American Derivatives Exchange (NADEX) subsidiary as well as Small Exchange, noting that the deal “offers a significant return” on previous investments made in these entities and “allows for additional investments in all of our businesses.”
At the time, IG Group CEO June Felix noted that the deal will give the group the ability to focus more on integrating and expanding American Options and its future business through its tastytrade and franchises. tastyworks, both in the United States and internationally. .
However, the company announced on Monday that re-admitting the futures exchange to its network will allow it “to continue to expand its range of products and services available to retail investors and traders in the United States and to take advantage of technology trading on the small exchange”. The company said that Small Exchange, which was launched in 2019, boasts “a world-class trading system, risk monitoring system and matching engine”.
IG seeks to create a small exchange to become the “market leader”
Although based in the UK, IG Group has a good presence in the United States. The Group operates tastylive, a Chicago-based financial content network for traders and investors. The group also operates another Chicago-based platform, tastytrade, which is an online platform for trading options, futures and stocks.
Additionally, the company runs IG North America, IG US, and Tasty Software Solutions. The company believes that Small Exchange, which is registered as a designated contract market with the US Commodity Futures Trading Commission, can help it achieve its innovation goals.
“The future of the market structure in the United States depends heavily on product innovation at the exchange level, and I am confident that we can build an exchange that will evolve and become a market leader over the next decade,” explained Tom Sosnoff, founder of tastylive. .
Meanwhile, IG Group has launched the third trance of its share buyback program following the £150m program announced in July 2022 and the £50m extension in January 2023. The aim of the program is to reduce the company’s share capital, the brokerage said. .
finance tycoons reported that the U.S. Securities and Exchange Commission recently pointed out that DailyFX, a trading news portal owned by the IG Group, is not permitted to solicit investments from investors. However, IG Group clarified that the portal is intended for European and Asian traders.
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IG Group, a London-based spread betting and CFD trading provider, has reached an agreement to acquire the futures exchange, Small Exchange, from Foris DAX Markets, the parent company of Crypto.com. The deal comes a year after the holding group finalized the sale of its 39% stake in the Chicago-based stock exchange.
In December 2021, IG Group agreed to sell its North American Derivatives Exchange (NADEX) subsidiary as well as Small Exchange, noting that the deal “offers a significant return” on previous investments made in these entities and “allows for additional investments in all of our businesses.”
At the time, IG Group CEO June Felix noted that the deal will give the group the ability to focus more on integrating and expanding American Options and its future business through its tastytrade and franchises. tastyworks, both in the United States and internationally. .
However, the company announced on Monday that re-admitting the futures exchange to its network will allow it “to continue to expand its range of products and services available to retail investors and traders in the United States and to take advantage of the Small Exchange’s trading technology”. The company said that Small Exchange, which was launched in 2019, boasts “a world-class trading system, risk monitoring system and matching engine”.
IG seeks to create a small exchange to become the “market leader”
Although based in the UK, IG Group has a good presence in the United States. The Group operates tastylive, a Chicago-based financial content network for traders and investors. The group also operates another Chicago-based platform, tastytrade, which is an online platform for trading options, futures and stocks.
Additionally, the company runs IG North America, IG US, and Tasty Software Solutions. The company believes that Small Exchange, which is registered as a designated contract market with the US Commodity Futures Trading Commission, can help it achieve its innovation goals.
“The future of the market structure in the United States depends heavily on product innovation at the exchange level, and I am confident that we can build an exchange that will evolve and become a market leader over the next decade,” explained Tom Sosnoff, founder of tastylive. .
Meanwhile, IG Group has launched the third trance of its share buyback program following the £150m program announced in July 2022 and the £50m extension in January 2023. The aim of the program is to reduce the company’s share capital, the brokerage said. .
finance tycoons reported that the U.S. Securities and Exchange Commission recently pointed out that DailyFX, a trading news portal owned by the IG Group, is not permitted to solicit investments from investors. However, IG Group clarified that the portal is intended for European and Asian traders.
GMO’s new investment; Komainu improves custody; read today’s nuggets.
