IG Group Holdings Plc (“IG”), the global online trading platform and tastytrade, Inc. (“tastytrade”), the fast-growing online financial network advocating for and empowering the individual investor, announced today their intention to join forces in a landmark deal. IG is offering tastytrade a total purchase price of $1 billion which excludes tastytrade’s cash. The management teams for IG and tastytrade will remain the same.
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Both IG and tastytrade have a shared passion for market disruption, innovation, and growth. They are committed to empowering self-directed traders to unlock opportunities in the financial markets and engaging their customers with innovative educational content – a true differentiator in the market. In addition, in four short years, tastytrade has built one of the top-rated brokerage businesses1 for online trading by active traders in options and futures. This deal significantly scales IG’s footprint into the U.S. derivatives market and further diversifies its product offering, while providing a global platform for tastytrade’s international ambitions.
“I am thrilled to welcome tastytrade to the IG Group family. This acquisition will materially expand and scale our business in the U.S. and see us further diversify into the exciting high growth market of U.S. retail options and futures, a market which is adjacent to IG’s core retail trading skill set. The U.S. market has more than 1.5 million retail traders2 and is the largest derivatives market in the world,” said June Felix, Chief Executive Officer of IG Group.
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“tastytrade has grown impressively and proven itself to be an innovative market disrupter passionately committed to delivering for their clients. The financial and strategic rationale underpinning this deal are compelling. I am confident that with our shared client centric ethos, passion for innovation and growth – IG and tastytrade will prove a winning combination.”
“Early on we knew tastytrade was a very special company. While our long-term goal has always been to go global, we waited almost 10 years until we found the right partner and perfect match. Together we will focus on empowering the self-directed investor and change the way people perceive and engage with financial markets. Get ready world!” said Tom Sosnoff, Founder and co-CEO of tastytrade.
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