Nadex seeks to reassure clients on continued services after sale announcement
Shortly after electronic trading major IG Group Holdings plc (LON:IGG) announced the proposed sale of North American Derivatives Exchange, Inc. (Nadex) and Small Exchange, Inc, Nadex has issued a brief notice to reassure clients on continued services.
Nadex stated:
“We want to reassure you that from a client perspective, your experience with Nadex will remain unchanged. You will still be able to access your account and trade in the same way you always have”.
Regarding the transaction process, the Exchange said:
“We will remain transparent with you throughout the process, and you can contact us at any time with questions at customerservice@nadex.com. We appreciate all of you joining us in this exciting new chapter!”
The proposed sale is a cash transaction with an approximate, aggregate price for the IG shareholdings in both companies of $216 million. The closing of the transaction is expected to be in the first half of 2022, subject to the satisfaction of customary conditions, including regulatory review.
IG says that the deal would not materially impact full-year adjusted operating profit expectations nor the medium-term revenue growth guidance for High Potential Markets previously provided in July 2021.
The proposed acquisition of Nadex and the Small Exchange will enable Crypto.com – the new owner of the businesses – to provide its U.S.-based customers with the opportunity to trade certain derivatives and futures products.
Crypto.com expects to complete the acquisition of Nadex and the Small Exchange in the first half of 2022, pending regulatory review. Both companies will fold under the Crypto.com brand.