Kraken, which is one of the most longest-standing, liquid, and secure crypto platforms serving over 15 million clients globally, announced it has entered into an agreement to acquire NinjaTrader, which is the leading U.S. retail futures trading platform, for $1.5 billion, subject to certain purchase price adjustments.
This deal strengthens Kraken’s position as a 24/7, always-on technology platform built for professional traders, making it a leader in U.S. futures for both traditional and crypto markets. It also accelerates Kraken’s multi-asset-class ambitions, including plans for equities trading and payments.
Launched in 2003, NinjaTrader provides advanced futures trading tools to nearly two million traders and operates as a CFTC-registered Futures Commission Merchant (FCM). This deal marks the largest-ever deal combining traditional finance (TradFi) and crypto.
With this deal, the benefits include:
1.) U.S. Futures – NinjaTrader’s CFTC-registered FCM license allows Kraken to offer crypto futures and derivatives in the U.S.
2.) Unlocks Global Regulatory Licensing and Growth – Kraken’s U.K. MiFID, EU MiFID, and Australian securities licenses accelerate NinjaTrader’s expansion into the U.K., Europe, and Australia.
3.) Seamless Multi-Asset Trading – For Kraken and NinjaTrader clients, the ability to trade crypto, futures, and traditional financial products.
4.) Access to Elite Trading Tools – Clients will benefit from NinjaTrader’s pro-grade analytics, execution engines, futures liquidity, and Kraken’s best-in-class crypto liquidity and trading experience.
Kraken has a track record of successful integrations. These include Cryptowatch (real-time analytics), Crypto Facilities (regulated derivatives), CF Benchmarks (index provider), and Staked (staking infrastructure).
NinjaTrader will continue operating as a standalone platform under the Kraken suite of trading and payments applications. In the future, its clients will gain access to an expanded array of trading opportunities.
NinjaTrader is majority-backed by Long Ridge Equity Partners.
The deal is subject to customary closing conditions and is expected to close in the first half of 2025.
PJT Partners served as financial advisor to Kraken, and Jones Day and Lowenstein Sandler served as legal advisors. And Jefferies acted as financial advisor to NinjaTrader and Choate, Hall & Stewart LLP and Katten Muchin Rosenman served as legal advisors.
KEY QUOTES:
“Traditional markets run on banking systems from the 1950s and post-WWII, exchanges that close at 4 p.m. ET, and settlement delays that take days to resolve. Crypto rails fixed these issues, operating with efficient and real-time infrastructure. But legacy finance and crypto have remained separate ecosystems, until today. This transaction is the first step in our vision of an institutional-grade trading platform where any asset can be traded, anytime.”
– Arjun Sethi, Kraken’s co-CEO
“NinjaTrader’s mission has been to redefine retail futures trading, making it more accessible, cost-effective and trader-friendly. Joining forces with Kraken allows us to take this vision to a global scale, expanding our reach and unlocking innovative new use cases. Together, Kraken and NinjaTrader will power the integration of traditional markets with crypto by offering cutting edge tools and the ability to rapidly move across asset classes that the most sophisticated traders demand.”
– Marty Franchi, CEO of NinjaTrader
