IG announces management changes at tastytrade
Co-founder Kristi Ross will move to a strategic advisory role and step back from day-to-day responsibilities at tastytrade and IG.
Co-founder Kristi Ross will move to a strategic advisory role and step back from day-to-day responsibilities at tastytrade and IG.
Joe (JJ) Kinahan has been appointed to the newly created roles of Vice President and Chief Market Strategist of tastytrade.
Q3 FY22 was another quarter of revenue growth for IG Group, with net trading revenue from continuing operations of £257.2 million.
IG Group reports that tastytrade has performed very well in the first 5 months since acquisition, delivering 34% revenue growth.
The transfer of IG Group shares was for estate planning purposes and the lock up arrangements following the tastytrade acquisition stay in place.
Looking forward to FY22, IG Group’s first focus for tastytrade will be to deliver continued growth in the US market.
IG Group confirms the completion of its acquisition of tastytrade, an online brokerage and investor education platform.
IG benefited from exceptional levels of trading activity throughout the third quarter, delivering revenue of £230.3 million.
Online broker tastyworks now offers trading in four of the most actively traded cryptocurrencies: Bitcoin, Ethereum, Litecoin and Bitcoin Cash.
IG paid about 9x revenues and 20x profits for tastytrade, well above its own multiples of 3.5x revenue and 8.5x trailing profits.