Stocks

Trading platform IG to buy U.S. brokerage tastytrade for $1 billion By Reuters

© Reuters. FILE PHOTO: Traders look at financial information on computer screens on the IG Index trading floor

(Reuters) – London-listed trading platform IG said it plans to buy online brokerage tastytrade for $1 billion, as it ramps up its presence in the United States after a stellar year for the industry due to coronavirus-driven market volatility.

The deal consideration would be made through $300 million in cash and the issuance of 61 million IG shares, the company said on Thursday.

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