IG: IG Group acquires small exchange from Foris Da

Description:
Chicago, IL and London, UK – April 3, 2023 – IG Group, a leading global fintech company with operations in the US including IG North America, as well as tastytrade, tasty live, delicious software solutions and IG US today announced , which has entered into an agreement with Foris DAX Markets, Inc. to acquire Small Exchange, a Chicago-based futures exchange that launched in 2019. IG Group previously held a stake in the small exchange, which was acquired by Crypto.com parent company Foris DAX Markets, Inc. in March 2022.The acquisition will allow IG Group to continue to expand its range of products and services to retail investors and traders in the US, and to leverage trading technology on smaller exchanges. Small exchanges have created world-class trading systems, risk monitoring systems and matching engines."We're excited about the opportunity to reacquire a smaller exchange," said tasty founder Tom Sosnoff. Live. "The future of the U.S. market structure depends heavily on product innovation at the exchange level, and I believe we can build an exchange that can scale and become a market leader over the next decade.To learn more about The Small Exchange product, visit www.thesmallexchange.com.About Small ExchangeHeadquartered in Chicago, backed by award-winning industry innovators and powered by a proprietary trade matching engine, the Small Exchange is a registered Designated Contract Market (DCM) with the Commodity Futures Trading Commission (CFTC). Small Exchange's mission is to be the world's largest client-focused futures exchange, providing investors of all sizes with access to smaller, more capital efficient, easy-to-use and easy-to-understand futures products for all participants Provide products that bridge product gaps. The firm facilitates trading of exchange-created proprietary products for all types of market participants, including but not limited to market makers/liquidity providers, introducing brokers (IBs), futures commission merchants (FCMs), proprietary trading firms and hedge funds, all of which focus primarily on public retail clients.About IGIG Group (LSEG: IGG) is an innovative global fintech company, providing a dynamic online trading platform and a robust educational ecosystem to empower ambitious individuals in their pursuit of financial freedom. For nearly five years, the firm has continued to evolve its technology, risk management, financial products, content and platforms to meet the needs of retail and institutional clients. IG Group continues to innovate its products for a new generation of tomorrow's investors through its IG, tastytrade, tasty live, tastycrypto, IG Prime and Spectrum brands.Founded in 1974, IG Group is a London-based FTSE 250 company, offering clients access to approximately 19,000 financial markets through offices across Europe, North America, Africa, Asia Pacific and the Middle East.
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