Electronic trading major IG Group, whose U.S. presence includes IG North America, as well as tastytrade, tastylive, tasty software solutions and IG US, today announced that it had entered into an agreement with Foris DAX Markets, Inc. to acquire the Small Exchange, a futures exchange based in Chicago and launched in 2019.
IG Group previously held a stake in the Small Exchange, which was acquired by Foris DAX Markets, Inc., the parent company of Crypto.com, in March 2022.
The acquisition will enable IG Group to continue expanding its range of products and services available to retail investors and traders in the U.S. and to leverage the Small Exchange’s trading technology. The Small Exchange has created a world-class trading system, risk-monitoring system and matching engine.
“We’re excited to have had the opportunity to reacquire the Small Exchange,” said Tom Sosnoff, Founder, tastylive. “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.”
