LONDON: IG Group Holdings plc has completed the sale of Small Exchange Inc to Payward Inc (“Payward”), the parent company of the crypto exchange Kraken. The transaction values Small Exchange at $100.0m (£74.9m), with the consideration comprising $32.5m (£24.3m) in cash and $67.5m (£50.6m) in Payward stock. The sale results in a post-tax gain of…
LONDON: IG Group Holdings plc announced the acquisition of Independent Reserve, a leading cryptocurrency exchange based in Australia, for an initial enterprise value of A$178 million (£86.8m). The bolt-on transaction accelerates IG’s entry into cryptocurrency markets in the Asia Pacific region and brings a talented team of crypto-native specialists to the Group. It complements the…
LONDON, UK: IG Group, a London-based financial services company, is taking steps to make its business more efficient and profitable. The company plans to cut about 300 jobs, or 10% of its staff, by the end of FY23. It also aims to save £50 million a year by using its global hubs more effectively and…
LONDON, UK: IG Group Holdings has proposed sale of North American Derivatives Exchange Inc. (Nadex) and Small Exchange Inc. to Foris DAX Markets Inc., part of the group of companies trading as crypto.com. IG Group owns approximately 39% in Small Exchange. The proposed sale is a cash transaction with an approximate, aggregate price for the…
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…
IG Group Plc is a UK-based company providing trading in financial derivatives such as contracts for difference and financial spread betting and, as of 2014, stockbroking to retail traders. While the majority of the company’s activities are based in the UK, the company has expanded internationally. IG is regulated by the FCA, the UK’s financial…