IG Group Accomplishes Acquisition of tastytrade

IG Group Holdings plc, a global online trading company providing CFDs and forex, announces the completion of its acquisition of tastytrade, Inc, an online brokerage and trading education platform with a leading position in US listed derivatives, primarily options and futures. Earlier this year, IG and  tastytrade announced their intention to join forces in a landmark deal. IG offered tastytrade a total purchase price of $1 billion.

According to the official news release, IG has received all the necessary regulatory and anti‐trust approvals and satisfied all necessary pre‐conditions to complete its acquisition of tastytrade. The total consideration comprises $300 million in cash and the issuance of 61,000,000 new ordinary shares in IG (the "Consideration Shares") to tastytrade shareholders.

Application has been made for the admission of the Consideration Shares, which will rank pari passu in all respects with IG's existing ordinary shares in issue, to the premium listing segment of the Official List of the Financial Conduct Authority and to trading on the main market for listed securities of the London Stock Exchange. 

June Felix, Chief Executive Officer, IG Group, said: "This transaction marks another important milestone in the delivery of IG's growth strategy, diversifying our product offering and significantly strengthening our global franchise. I am thrilled to welcome tastytrade to the IG family. tastytrade is an innovative, high growth, high margin business giving us immediate scale in the largest retail options and futures market in the world. tastytrade will significantly enhance our client proposition, broadening choice and opportunity while providing products, tools and educational resources to empower financial decision making."