Tastyworks, an online broker launched in 2017, has changed its name to Tastytrade. The brokerage firm through its platform offers options, futures and crypto trading to retail investors.

Tastyworks announced the new development on Wednesday in a press statement, noting that “a full transition to tastytrade branding will take place over the coming weeks.” In addition, the broker noted that it started adopting the new legal name on Tuesday. Moreover, it pointed out that the name change will not affect the functioning of its platform.

"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,” Tastyworks explained in a separate announcement on its website.

Tastyworks Changes its Name to Tastylive's Old Name

With the new development, Tastyworks has now taken over the name of the online financial network, Tastylive, which until December last year was known as Tastytrade. Tastylive, which functions as a financial content and education platform, is a separate but affiliated company of Tastyworks. However, both companies are part of IG Group.

In June 2021, IG Group completed the acquisition of Tastytrade for $1 billion, with $300 million in cash and $700 million in the form of 61 million new ordinary shares of IG Group.

Meanwhile, Tastyworks rebranding comes less than a year after the US-based brokerage firm launched a risk analysis tool to help traders analyze and manage their estimated risk in options, equity and futures trading.