IG Group Acquires the Small Exchange From Foris DAX Markets
Forix DAX will rejoin IG Group’s retail trading ecosystem to support IG Group's aim to make futures markets more accessible for all retail investors and participants.
April 4, 2023 - IG Group, a fintech whose U.S. presence includes IG North America, as well as tastytrade, tastylive and IG US, announced that it had entered into an agreement with Foris DAX Markets 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, the parent company of Crypto.com, in March 2022.
Through the acquisition IG Group aims to continue expanding products and services available to retail investors and traders in the U.S. and to leverage the Small Exchange’s trading technology which includes a trading system, risk-monitoring system and matching engine.
Tom Sosnoff, Founder, tastylive commented: “We’re excited to have had the opportunity to reacquire the Small Exchange. 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.”
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