Electronic trading major IG Group Holdings plc (LON:IGG) today announced the proposed sale of North American Derivatives Exchange, Inc. (Nadex) and Small Exchange, Inc, the latter of which the Group owns approximately 39%, to Foris DAX Markets, Inc.

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.

“We’re really excited by this deal, as it delivers a significant return on the previous investments made in Nadex and Small Exchange and enables additional investment across all our businesses.

This deal also allows us to further sharpen our focus on integrating and expanding the US options and futures business through our tastytrade and tastyworks franchises, both in the US and internationally, where we see significant room for growth.” said June Felix, CEO, IG Group.

Let’s recall that, back in July, IG said it will be seeking to maximise its share of wallet from its existing US client base across IG US, its retail foreign exchange dealer (RFED), Nadex, DailyFX and tastytrade. “The teams will be working closely together to seize opportunities where IG can deliver more from these businesses together than it could individually,” the company stated back then.