Miami International Completes Acquisition of LedgerX

Miami International Holdings, Inc., a U.S.-based exchange conglomerate that owns several equities, options and commodities exchanges, has completed the acquisition of FTX's crypto derivatives exchange LedgerX, following the completion of its acquisition of Dorman Trading, LLC​, one of the oldest, family-operated Futures Commission Merchant (FCMs) in the world.

The acquisition of LedgerX is part of the bankruptcy proceedings involving crypto giant FTX and its affiliated debtors. In January, the bankrupt FTX had been allowed to sell four key units​ including derivatives arm LedgerX and stock-clearing platform Embed. Last month, Miami International Holdings won the bankruptcy auction to buy LedgerX from FTX with the aim of facilitating the development of its crypto business and the achievement of its growth strategic.

Thomas P. Gallagher, Chairman and CEO of MIH, said: "The acquisition of LedgerX represents an important part of our growth strategy, expanding our ability to offer new and innovative products to the swaps and futures industry. We are pleased to complete this acquisition and welcome the LedgerX team to the MIH family as we continue to execute on our strategy of operating regulated financial markets both in the U.S. and internationally."