FairX to Launch New Futures Exchange Next Month for Retail Investors

FairX, a trademarked operating name of LMX Labs, LLC, yesterday announced the launch of a new CFTC-regulated futures exchange, making it easier for active individual investors to trade futures with a smaller size. 

An array of companies including TD Ameritrade, E*Trade Financial, ABN AMRO Clearing Chicago LLC, ADM Investor Services, Advantage Futures, Dorman Trading, StoneX, Wedbush, Virtu Financial and XTX Markets said that they will offer FairX products after their launch. In addition, Nodal Clear, part of EEX Group, will provide clearing services to FairX.

According to the official press release, the new exchange is set to launch in June, and it will offer low-cost, around-the-clock trading access to the most liquid asset classes in the global futures industry. FairX will have an initial product slate that includes futures on the Bloomberg US Large Cap Index, tracking the largest 500 companies by market cap, the Bloomberg US Dollar Spot Index, tracking the value of the U.S. dollar against a basket of international currencies, as well as the SuperTech Index, tracking 15 of the largest and most actively traded companies engaged in high-growth technology, media and manufacturing industries.

FairX CEO Neal Brady commented: “We’re delighted to work with many of the industry’s leading firms to offer a futures trading venue designed to meet the needs of the global retail futures trader. FairX aims to democratize access to futures and options on futures by delivering superior products, seamless access and dramatically lower exchange costs to the active retail trading community.”

FairX has closed multiple financing rounds led by Hyde Park Venture Partners with participation from Battery Ventures, Limerick Hill, LLC, TD Ameritrade, Virtu Financial and XTX Ventures.