Global fintech IG Group said it has made a deal to buy the Small Exchange, a futures exchange based in Chicago, from Foris DAX Markets, Inc.
IG Group, a financial services company, already has a presence in the US. This includes IG North America, as well as tastytrade, tasty live, tasty software solutions and IG US.
Previously, they held a part-ownership stake in The Small Exchange, which was purchased by Foris DAX Markets, Inc., the parent company of Crypto.com, in March 2022.
Group’s purchase of The Small Exchange will help them grow their range of products and services in the United States and make use of the Small Exchange’s trading system.
Founder, tastylive, Tom Sosnoff, said:
We’re excited to have had the opportunity to reacquire the Small Exchange. The future of market structure in the US depends heavily on product innovation at the exchange level, and I’m confident we can build an exchange that will scale and become a market leader over the next decade.
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