The Small Exchange
|The Small Exchange|
|Key People||Donnie Roberts, president and CEO|
|Products||retail focused futures exchange|
The Small Exchange is a pending futures market aimed at retail customers. The company, founded in January 2019, was co-founded by Tastytrade's founder Tom Sosnoff and Peak6's founders Matt Hulsizer and Jenny Just.
The exchange has filed with the Commodity Futures Trading Commission to become a registered designated contract market, or futures exchange, and its application is pending. It expects to launch in Q3 2019. It also built its own exchange infrastructure from the matching engine to the risk management system. Clearing will be done by OCC. The platform will start with futures and add options later.
The Small Exchange was formed to become the world's largest "customer-centric" futures exchange, aiming to offer contracts designed for retail traders. It offered an initial one-time subscription to the exchange, a 50 percent discount on exchange fees and reduced market data fees. Up to 25,000 subscriptions were offered at $100 each.
The goal of the exchange is to make futures trading easy and attainable for customers.
Products and Services
The exchange plans to offer: equity indexes, bonds, FX, energies and metals. Contracts will be priced in dollars and cents and priced in small, retail contract sizes. Contracts are cash settled on the third Thursday of the month.
The exchange runs on proprietary matching technology.
- The Small Exchange®, a New Customer-Focused Futures Exchange for the Everyday Investor to Launch. Press Release.
- A new exchange . . . with new products . . . for traders of all sizes. Small Exchange.
- Tastytrade, Peak6 invest $10 million in new exchange. Crain's Chicago Business.
- The Small Exchange: Building a new ecosystem for the little fish. John Lothian News.
- The Small Exchange Raises $10 Million from Citadel Securities and Jump Capital in New Strategic Financing Round. Press Release.
- The Small Exchange Secures OCC Clearing and Settlement Services. Press Release.