Online trading platform IG Group has announced the proposed sale of North American Derivatives Exchange (Nadex) and Small Exchange for a combined $216m in cash.
The company, which owns around 39% of Small Exchange, will be selling the businesses to Foris DAX Markets.
IG said on Wednesday that the transaction is expected to complete in the first half of next year. The deal does not materially impact full-year adjusted operating profit expectations or the medium-term revenue growth guidance for high potential markets provided in July.
Chief executive officer June Felix said: “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.”
