Crypto.com Agrees to Acquire Nadex and the Small Exchange from IG Group -Breaking
[ad_1]
Crypto.com has agreed to purchase Nadex, the Small Exchange and the Small Exchange of IG GroupCrypto.com, the world’s fastest-growing cryptocurrency and financial services platform, today announced that it has executed a sale and purchase agreement to acquire the North American Derivatives Exchange® (Nadex®) — a leading U.S.-based retail-focused, regulated online exchange and clearing house offering derivative products on some of the world’s most heavily traded markets — and the Small Exchange — a revolutionary futures exchange offering smaller, simpler products also aimed toward retail customers.
Crypto.com will be able to offer its U.S. customers the possibility to trade derivatives and other futures products through the proposed acquisitions of Nadex, the Small Exchange and Nadex.
“Our goal as a platform is to offer our customers a trusted, secure, and regulated platform with world-class tools to achieve financial independence,”
Kris Marszalek was the co-founder of Crypto.com and is also its CEO.
“This proposed acquisition builds on that promise and will give our customers access to an entirely new set of financial tools to complement our current offering.”
Nadex, part of the North American division of IG Group (LON : IGG), is a financial services company with a total market capital of $4.3 billion USD. Based in Chicago, Ill., Nadex is the premier U.S. exchange for binary options, call spreads, and Touch Bracket (“knock-out”) contracts, offering secure and innovative ways to participate in the markets. Nadex has been registered and is subject to the regulation of the Commodity Futures Trading Commission. The funds of Nadex are kept in separate accounts at major U.S. bank branches.
The Small Exchange, a futures trading platform for retail traders, offers futures products that can be used in smaller quantities, are more efficient with capital, easy to use and understand. The Chicago-based company facilitates the trading of exchange-created proprietary products for a range of market participants including market-makers/liquidity providers, Introducing Brokers (IBs), Futures Commission Merchants (FCMs), proprietary trading firms, and hedge funds. Donald Roberts and Travis McGhee, respectively, will keep their positions as CEOs at Nadex/the Small Exchange after close.
“This is a fantastic deal that is beneficial to all parties. We are proud that Crypto.com recognized the potential of Nadex, Small Exchange and Nadex as innovative companies. This will be an exciting time for clients and all those involved in the businesses”,
said June Felix, Global CEO, IG Group.
Crypto.com anticipates that it will complete the acquisition of Nadex, the Small Exchange and other assets in the first quarter of 2022. This is subject to regulatory approval. The Crypto.com brand will take over both companies.
EMAIL NEWSLETTER
You can also join the crypto-verse
Upgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.
[contact-form-7]
It takes just 1 click to unsubscribe.
Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.
[ad_2]