IG Group to Sell Nadex and Small Exchange for $216M

Fazzaco learned that IG Group has announced the proposed sale of North American Derivatives Exchange, Inc. (Nadex) and Small Exchange, Inc, the latter of which the Group owns approximately 39%, to Foris DAX Markets, Inc.

The proposed sale is a cash transaction with an approximate, aggregate price for the IG shareholdings in both companies of $216 million. The closing of the transaction is expected to be in the first half of 2022, subject to the satisfaction of customary conditions, including regulatory review.

"We're 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. 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." said June Felix, CEO, IG Group.

Last week, Fazzaco reported that Deborah Finlayson has resigned from the role of Head of Global Service Centers, Workplace & Culture at IG Group. Additionally, the company has completed a comprehensive refinancing of its debt​, involving the issue of £300 million in senior notes bonds that will be due in 2028, in order to implement a long-term funding structure.