Tech

IG Group sells two trading platforms for $ 216 million

File Photo: The dealer is working on the IG Group Trading Floor in London, UK, June 30, 2015. REUTERS / Neil Hall / File Photo

December 1, 2021

(Reuters) – Online trading platform IG Group said on Wednesday that it plans to sell short-term options trading platform NADEX and cryptocurrency exchange SmallExchange to Crypto.com’s ForixDax Markets for $ 216 million.

IG Group said the sale of North American Derivatives Exchange Inc. (NADEX) and Small Exchange, in which the group holds a nearly 39% stake, will not affect annual profits and will close the transaction in the first half of the year. Added. 2022.

CEO June Felix said:

Felix added that IG Group believes there is significant room for growth in the US online brokerage firms and trading education platforms tastytrade and tastyworks purchased earlier this year.

London-listed companies withdrew many of their high-risk stock products earlier this year after the frenzy of stock market betting by small US investors caused significant fluctuations in some stock prices.

(Report by Sinchita Mitra in Bangalore, edited by Arun Koyyur and Uttaresh.V)



IG Group sells two trading platforms for $ 216 million

Source link IG Group sells two trading platforms for $ 216 million

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