The American division of IG Group joins the Futures Industry Association (FIA) to strengthen its leadership position in the United States Region.
To strengthen its asset offering in the American region, the multi-asset IG Group US has announced its membership with an influential trade organization, the Futures Industry Association (FIA). This partnership follows IG Group's strong financial performance and strategic success in the United States market.
The FIA is a global group of trading professionals representing the interests of the futures, options, and derivatives markets, including futures commission traders and master traders from more than 48 countries. This collaboration is one of IG Group's best steps to strengthen its position in the US.
Previously, in 2021, IG Group acquired online broker tastyworks and its trading education platform, delicioustrade, in a deal worth $1 billion as an initial step into the US market. At the time of the acquisition, tastyworks, now rebranded as tasytrade, had more than 105,000 active trading accounts on its platform. Tastytrade offers options, futures, and cryptocurrency trading through its platform for retail investors.
Charlie Rozes, Chief Executive Officer of IG, said, "We performed best in more difficult market conditions last year, maintaining our leadership position in OTC derivatives while continuing our product development and geographic expansion."
In addition, the revenue of IG US operations jumped 47% to £191.3 million in the fiscal year 31 May 2023, strengthening the collaboration between IG US and FIA. This figure was supported by a year-on-year increase in revenue from its subsidiary tastytrade to £170.3 million, up 52%.
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