Completion of sale of Nadex and Small Exchange

Source: RNS
RNS Number : 2890D
IG Group Holdings plc
02 March 2022
 

IG Group Holdings plc

LEI No: 2138003A5Q1M7ANOUD76                                                                                                                         

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO, OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION

FOR IMMEDIATE RELEASE

 

 

IG GROUP HOLDINGS PLC

Completion of sale of Nadex and Small Exchange by IG Group

2 March 2022

 

IG Group Holdings plc ("IG" and, together with its subsidiaries, "the Group"), today 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. ("Small Exchange") to Foris DAX Markets, Inc. (part of the group of companies trading as "crypto.com") for USD216 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.

 

 

Contact information

 

IG Group Investor Relations

 

IG Group Press

FTI Consulting

Richard Heading / Simon Wright

020 7573 0742 / 0099

investors@ig.com

Alayna Francis

020 7896 0011 / 020 7633 5395

press@ig.com

Ed Berry / Katherine Bell

077 0333 0199 / 079 7687 0961

iggroup.sc@fticonsulting.com

 

 

Foris DAX Markets, Inc. (part of the group of companies trading as "crypto.com")

 

Founded in 2016, Crypto.com today serves over 10 million customers with the world's fastest growing crypto app, along with the Crypto.com Exchange and Crypto.com DeFi Wallet. Crypto.com NFT is the premier platform for collecting and trading NFTs, carefully curated from the worlds of art, design, entertainment and sports. Information obtained from the crypto.com website, available here: https://crypto.com/about.

 

 

North American Derivatives Exchange, Inc. ("Nadex")

 

Nadex is a US derivatives exchange for binary options, call spreads, and knock-outs. It provides access to opportunities across global financial markets, including US and international indices, major forex pairs, commodities and economic events. Nadex is regulated by the Commodity Futures Trading Commission (CFTC).

 

 

Small Exchange, Inc. ("Small Exchange")

 

Small Exchange is a CFTC approved US futures exchange which was founded in January 2019 and opened for trading on June 1, 2020. Small Exchange offers small, standardised futures products on a range of underlying products to simplify access to the futures markets.

 

 

No offer or solicitation

 

This announcement is not intended to, and does not constitute, or form part of, any offer to sell or an invitation to purchase or subscribe for any securities or a solicitation of any vote or approval in any jurisdiction.

 

 

No profit forecasts or estimates

 

No statement in this announcement is intended as a profit forecast or estimate for any period and no statement in this announcement should be interpreted to mean that earnings or earnings per share for IG Group Holdings plc for the current or future financial years would necessarily match or exceed the historical published earnings or earnings per share for IG Group Holdings plc.

 

 

About IG

 

IG Group is a purpose-led global financial technology business that has been at the forefront of trading innovation since 1974. Since then, we've evolved into a global financial technology company

incorporating the IG, tastytrade, IG Prime, Spectrum and DailyFX brands, with a presence in

Europe, North America, Africa, Asia-Pacific and the Middle East. Our award-winning products and

platforms empower ambitious people the world over to unlock opportunities around the clock, giving them access to over 19,000 financial markets.

 

IG Group Holdings plc is an established member of the FTSE 250 and holds a long-term investment

grade credit rating of BBB- with a stable outlook from Fitch Ratings.

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