IG Group to sell US assets to Crypto.com
| By Robert Fletcher
Binary options and forex trading business IG Group is to sell its North American Derivatives Exchange (Nadex) business and its 39% stake in Small Exchange to Foris DAX Markets, part of the group of companies trading as Crypto.com.
IG Group would receive $216.0m (£162.0m/€190.8m) in cash should the deal go ahead.
Nadex is a US derivatives exchange for binary options, call spreads and knock-outs, offering users access to global financial markets, forex pairs, commodities and economic events. The exchange is regulated by the Commodity Futures Trading Commission (CFTC).
Small Exchange, which is also approved by the CTFC, is a US-facing futures exchange that offers small, standardised futures products on a range of underlying products to simplify access to the futures markets.