logo |


    Home   >     Industry    >     Main body

    IG Group Agrees to Sell Nadex and Small Exchange to Crypto.com

    Abstract:IG’s shareholdings in both companies are approximately $216 million.

      London-headquartered IG Group Holdings (LON: IGG) announced on Wednesday that it is selling its stakes in two subsidiary trading platforms, North American Derivatives Exchange (Nadex) and Small Exchange, to Foris DAX Markets, which operates as Crypto.com.

      IG is the owner of Nadex but holds approximately 39 percent stakes in Small Exchange. The combined price of IGs shareholdings in both companies is estimated to be $216 million, and the transaction will be made all in cash.

      Though the deal has to satisfy customary conditions, including regulatory review, the two companies are expecting to close it by the first half of 2022.

      “Were 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,” IG Group CEO, June Felix, said in a statement.

      “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.”

    Regulated US Platforms

      Nadex is one of the very few regulated US platforms that offer binary options, while Small Exchange is a relatively new US futures exchange operating since June 2020.

      The announcement has further detailed that the expected transaction will neither materially impact full-year adjusted operating profit expectations nor medium-term revenue growth guidance.

      Meanwhile, Crypto.com is expecting to expand offerings to its US customers with the acquisition of the two exchanges.

      “Our goal as a platform is to offer our customers a trusted, secure, and regulated platform with world-class tools to achieve financial independence,” said Kris Marszalek, co-founder and CEO of Crypto.com. “This proposed acquisition builds on that promise and will give our customers access to an entirely new set of financial tools to complement our current offering.”

    Read more

    Risk Warning

    The Database of WikiFX comes from the official regulatory authorities , such as the FCA, ASIC, etc. The published content is also based on fairness, objectivity and fact. WikiFX doesn't ask for PR fees, advertising fees, ranking fees, data cleaning fees and other illogical fees. WikiFX will do its utmost to maintain the consistency and synchronization of database with authoritative data sources such as regulatory authorities, but does not guarantee the data to be up to date consistently.

    Given the complexity of forex industry, some brokers are issued legal licenses by cheating regulation institutes. If the data published by WikiFX are not in accordance with the fact, please click 'Complaints 'and 'Correction' to inform us. We will check immediately and release the results.

    Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.

    Special Note, the content of the Wikifx site is for information purposes only and should not be construed as investment advice. The Forex broker is chosen by the client. The client understands and takes into account all risks arising with Forex trading is not relevant with WikiFX, the client should bear full responsibility for their consequences.