LSE – IG Group Buys Retail Options Business Tastytrade

Posted on 01/23/2021

IG Group Holdings PLC is a U.K.-based operator of online trading platforms. A few days ago, IG Group agreed to acquire U.S. brokerage and financial media firm Tastytrade, Inc. for US$ 1 billion. IG Group is seeking to capitalize on the growth of option trading by retail investors. Tastytrade (tastytrade) is based in Chicago and was founded by Tom Sosnoff. Sosnoff is an entrepreneur, options trader, co-founder of Thinkorswim and Tastytrade, and founder of Dough, Inc. He was Senior Vice President of Trading and Strategic Initiatives at TD Ameritrade. Tastytrade has a brokerage arm called Tastyworks and a free online-video network featuring tutorials on trading strategies and interviews.

IG Group was formed in 1974 and is listed on the London Stock Exchange. IG Group already owns Nadex, a small exchange for binary options, a type of exotic derivative contract.

Dylan Ratigan is associated with Tastytrade, producing a podcast with Tom Sosnoff. Ratigan is a former CNBC and MSNBC anchor and a failed House candidate in 2018. Ratigan was popular in financial media circles for his lengthy rants, pointing out corruption in politics and the financial system.