IG Group Completes $1 Billion Acquisition of Tastytrade

IG Group has completed its $1 billion acquisition of Tastytrade, a US-based online broker and a trading education platform.

June 29, 2021, | AtoZ MarketsIG Group, a London-based financial broker, announced yesterday that it has successfully completed its acquisition of Tastytrade, an American online broker and trading learning platform. The takeover came after the trading giant received the green light from regulators and antitrust authorities.

According to the release of the British GC IG, the current shareholders of Tastytrade will receive $300 million in cash, and the remaining 700 million in the form of 61 million IG shares (already today, June 29, 2021). Thus, the total amount of the transaction is, as previously assumed, approximately the amount of the transaction $1 billion.

As a reminder, Tastytrade is a platform that offers financial education trading services. The company's management previously created Thinkorswin, an online futures trading platform that was acquired by TD Ameritrade in 2009. Tastytrade has grown significantly over the past few years amid strong demand from retail investors. Tastytrade has over 105,000 active trading accounts. The company is headquartered in Chicago. In addition, the company has around 900,000 unique registrations.

Previously, June Felix, CEO of IG Group, commented on the acquisition:

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I am thrilled to welcome Tastytrade to the IG family. This acquisition will significantly expand and scale our US business and further diversify into the US retail options and futures market, which is adjacent to IG's core business in the retail segment. The US market has over 1.5 million retail traders and is the largest derivatives market in the world. Tastytrade has established itself as a revolutionary project in the market, committed to the interests of its customers."

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