Owner Signs Deal to Acquire North American Derivatives Exchange and Small Exchange

Posted on 12/02/2021

Founded in 2016, serves over 10 million customers with its crypto app, along with the Exchange and DeFi Wallet. Foris DAX Markets, Inc. is the parent company of is a cryptocurrency platform and exchange headquartered in Singapore. Foris DAX Markets signed a deal to acquire North American Derivatives Exchange, Inc. (Nadex) and Small Exchange, Inc. from IG Group Holdings plc. The proposed sale is a cash transaction with an approximate, aggregate price for the IG shareholdings in both companies of US$ 216 million. Foris DAX Markets already owned 39% of the small exchange.

Nadex is a US derivatives exchange for binary options, call spreads, and knock-outs. It provides access to opportunities across global financial markets, including US and international indices, major forex pairs, commodities and economic events. Nadex is regulated by the Commodity Futures Trading Commission (CFTC). Small Exchange is a CFTC approved US futures exchange which was founded in January 2019 and opened for trading on June 1, 2020. Small Exchange offers small, standardized futures products on a range of underlying products to simplify access to the futures markets.

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