Electronic trading major IG Group Holdings plc (LON:IGG) announces the completion of the sale of the North American Derivatives Exchange, Inc. (Nadex) and the 39% stake the Group holds in Small Exchange, Inc to Foris DAX Markets, Inc. (part of the group of companies trading as “crypto.com”) for $216 million.
The cash transaction represents a significant return on the investments made in Nadex and Small Exchange and enables additional investment across the business.
The proposed sale of Nadex and Small Exchange was announced on 1 December 2021.
Let’s recall that, back in July, IG said it will be seeking to maximise its share of wallet from its existing US client base across IG US, its retail foreign exchange dealer (RFED), Nadex, DailyFX and tastytrade. “The teams will be working closely together to seize opportunities where IG can deliver more from these businesses together than it could individually,” the company stated back then.