IG Group to sell two trading platforms for $216 mln

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December 1 (Businesshala) – Online trading platform IG Group (IGG.L) said on Wednesday it plans to sell its short-term options trading platform NADEX and crypto stock exchange Small Exchange to Crypto.com’s Forex DAX Markets for $216 million. making.

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IG Group said the sale of North American Derivatives Exchange Inc. (NADEX) and Small Exchange, in which the group holds about 39%, would not impact its annual profit. of 2022.

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“This deal allows us to focus our attention on integrating and expanding US options and futures trading through our TastyTrade and TastyWorks franchises both in the United States and internationally,” said CEO June Felix.

Felix said it sees significant room for growth in TastyTrade and TastyWorks, the US online brokerage and trading education platform that IG Group bought earlier this year.

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The London-listed company withdrew several of its riskier equity products earlier this year after stock market bets by smaller US investors saw some stock prices fluctuate heavily.

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Reporting by Sinchita Mitra in Bengaluru; Editing by Arun Koyur and Uttaresh

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