- Chicago-based futures exchange The Small Exchange has raised $10 million from Citadel Securities and Jump Capital
- The company is focused on creating the leading customer-centric futures exchange
- The Small Exchange is seeking to become a registered Designated Contract Market (DCM) with the Commodity Futures Trading Commission (CFTC).
The Small Exchange, a Chicago-based futures exchange, announced two new strategic partners are now working with the company. Citadel Securities and Jump Capital both made $5 million investments in The Small Exchange. And they plan to be key participants on The Small Exchange when it launches later this year.
The Small Exchange is focused on creating the leading customer-centric futures exchange and is seeking to bridge the futures product gap for investors and participants of all sizes. And The Small Exchange will “facilitate the trading of exchange-created proprietary products for all types of market participants including, but not limited to market makers/liquidity providers, Introducing Brokers (IBs), Futures Commission Merchants (FCMs), proprietary trading firms and hedge funds, all with a primary focus on the public retail customer.”
Through its unique individual subscription offer that provides reduced exchange and market data fees and its uniform proprietary cash settled indices, The Small Exchange is designed to be user-friendly for its participants.
“We are elated to have Citadel Securities and Jump as strategic investors. They bring deep industry knowledge and expertise that will benefit our already very strong team and provide capital that will enable our growth,” said the Small Exchange President and CEO Donald Roberts. “To continue working towards providing investment opportunity for both individual investors and industry participants through ease of use, standardization and capital efficiency, we knew we needed strategic partners to provide liquidity and industry knowhow. The addition of Citadel Securities and Jump to our growing list of participants goes miles to building the solid base we need for our market.”
“As a leading liquidity provider across a wide range of asset classes and markets, we are excited to support the launch of the Small Exchange,” added Citadel’s Global Head of Business Development Jamil Nazarali. “This initiative will benefit retail investors and will help us further serve their liquidity needs in the futures market.”
This round of funding follows The Small Exchange’s recent industry partnership announcements which include CQG and Eventus along with the launch announcement of the exchange earlier this year from co-founders tastytrade and PEAK6 Investments.
“The Small Exchange is bringing a unique approach to making futures products more accessible to individual investors,” said Peter Johnson, Principal at Jump. “We are excited to invest behind a deeply experienced founding team and are looking forward to leveraging Jump’s capital markets experience to help build an industry leading futures exchange.”
The Small Exchange is also seeking to become a registered Designated Contract Market (DCM) with the Commodity Futures Trading Commission (CFTC).
