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The Small Exchange Raises $10 Million from Citadel Securities and Jump Capital
Traders Magazine Online News, May 21, 2019
The Small Exchange, a new futures exchange backed by renowned innovators in the financial industry, is proud to announce the addition of two new strategic partners, Citadel Securities and Jump Capital. Both firms have each made a $5 million investment in the Small Exchange and plan to be key participants on the Small Exchange when it launches later this year.
The investments by Citadel Securities and Jump Capital add two leading liquidity providers for the Small Exchange’s product offering. The Small Exchange, focused on creating the leading customer-centric futures exchange, seeks to bridge the futures product gap for investors and participants of all sizes. The Small Exchange, through both its unique individual subscription offer that provides reduced exchange and market data fees, as well as its simple, uniform proprietary cash settled indices, is designed to be more user friendly for all 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 Donnie Roberts, the Small Exchange President and CEO. “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,” said Jamil Nazarali, Global Head of Business Development at Citadel Securities. “This initiative will benefit retail investors and will help us further serve their liquidity needs in the futures market.”
“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.”
This funding follows recent industry partnership announcements that include CQG and Eventus as well as the launch announcement of the exchange earlier this year from co-founders tastytrade and PEAK6 Investments.
The Small Exchange seeks to become a registered Designated Contract Market (DCM) with the Commodity Futures Trading Commission (CFTC). To learn more about the Small Exchange’s offering, visit www.thesmallexchange.com.
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