LONDON: The Board of IG Group Holdings announced the proposed acquisition of tastytrade Inc., a high growth US online brokerage and trading education platform with a leading position in US listed derivatives, primarily options and futures, and over 105,000 active accounts.
June Felix, Chief Executive of IG, commented, “I am thrilled to welcome tastytrade to the IG Group family. This acquisition will materially expand and scale our business in the US and see us further diversify into the exciting high growth market of US retail options and futures, a market which is adjacent to IG’s core retail trading skill set.
The US market has more than 1.5 million retail traders and is the largest derivatives market in the world. tastytrade has grown impressively and proven itself to be an innovative market disrupter passionately committed to delivering for their clients.
The financial and strategic rationale underpinning this deal are compelling. I am confident that with our shared client-centric ethos, passion for innovation and growth, IG and tastytrade will prove a winning combination.”
Tom Sosnoff, Co-Founder and Co-CEO of tastytrade, commented, “Early on we knew tastytrade was a very special company. While our long-term goal has always been to go global, we waited almost 10 years until we found the right partner and perfect match. Together we will focus on empowering the self-directed investor and change the way people perceive and engage with financial markets.”
Kristi Ross, Co-Founder and Co-CEO of tastytrade, commented, “We created tastytrade with a vision to challenge self-directed investors to think and trade strategically. We built an ecosystem to empower them.
No other firm has built a retail trader ecosystem in quite the same way: delivering authentic, fun and actionable research-based content through our uniquely developed financial media network; to our two revolutionary brokerage firms with intuitive front-end technology, built on high frequency middleware; to a retail-focused futures exchange. IG shares our mission, and similarly has a deep-rooted track record of innovation, leadership in the financial markets with a robust and scalable infrastructure, and most importantly, we share a customer-centric philosophy. We are excited to work with IG to make derivatives trading more accessible for retail investors around the world.”
IG is an award-winning, multi-product trading company providing retail, professional and institutional clients with access to trading opportunities in over 17,000 financial markets. As the world’s number 1 provider of contracts for difference (CFDs) and an established player in the foreign exchange (FX, forex) market, IG is already one of the foremost trading platforms in its Core Markets, including the UK, EU, Australia and Singapore.
Beyond its Core Markets, IG’s strategy is focused on its Significant Opportunities portfolio, comprising the US, Japan, Emerging Markets and Greater China geographies, as well as the institutional channel through IG Prime and the European exchange traded derivative market through Spectrum.
IG has had a presence in the US retail trading market since 2007 through Nadex, the Chicago-based derivatives exchange for US and overseas traders. Nadex offers a range of products including binary options, call spreads and knockouts.
In 2019, IG launched OTC FX trading for retail clients through its retail foreign exchange dealer (RFED) business. IG also operates in the US through DailyFX, a free news and research resource for FX, commodity and index trading.
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