Online brokerage firm Tastyworks rebrands to Tastytrade
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Tastyworks, an online brokerage platform, has announced a change of its name from Tastyworks to Tastytrade. The brokerage platform provides retail investors access to various financial instruments such as options, futures, and cryptocurrencies.
Tastyworks rebrands to Tastytrade
Tastyworks is one of the largest online brokerage platforms globally, launched in 2017. The brokerage platform has now announced a chance to its name as it seeks to rebrand its operations.
The company announced the change in name on Wednesday through a press statement. In the statement, the company said that in the coming weeks, it could be fully transitioning its branding from Tastyworks to Tastytrade. The company said the rebranding would be done in the coming weeks.
The brokerage company has also said that it commenced the process of changing its legal name on Tuesday. It noted that the change in the operating name would not impact how the platform operated.
The company confirmed this development on its website, saying the name change would be reflected across all platforms. However, before these changes take effect, customers would still see the original name featured in some products and services.
“We will actively transition to our new name and domain across our websites, technology, and content. However, for the time being, you may still see Tastyworks in other areas of our business. You will start seeing the changes listed below taking effect as early as Tuesday, February 21st, 2023,” the company explained.
Tastyworks takes the former name of Tastylive
With these new changes, Tastyworks will now operate under the name that Tastylive, an online financial network, previously used. Tastylive used to previously operate under the name Tastytrade before changing the same in December last year.
Tastylive is a platform that provides access to financial content and education. This platform is a separate entity but an affiliate of Tastyworks. Both Tastyworks and Tastylive are part of the IG Group.
IG Group closed the acquisition deal for Tastytrade in June 2021. At the time, IG Group acquired the platform for $1 billion. The acquisition was made using $300 million in cash and $700 million worth of 671 million new ordinary shares in the IG Group.
On the other hand, the rebranding of Tastyworks came less than one year after the brokerage company based in the United States released a risk analysis tool. This tool allows traders to analyze and manage their estimated level of risk in multiple financial assets such as options, equity, and futures trading.
A press release by the company at the time said that the tool would allow traders to analyze profits and losses depending on a percentage movement in price. Moreover, traders could also generate the risk levels in all positions and the queued orders. With this new functionality, it would be possible for traders to assess the potential gains and losses on multiple price points, assess volatility levels and future dates depending on the current market prices.
