Wedbush Futures Provides Clearing Service For FairX

Fazzaco learned that leading Futures Commission Merchant Wedbush Futures has announced to provide clearing service for FairX, a new futures exchange set to launch in June for active individual investors​.

As Fazzaco earlier reported, FairX will offer low-cost, around-the-clock trading access to the most liquid asset classes in the global futures industry. Its initial product slate will include 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.

Bob Fitzsimmons, EVP, Fixed Income, Commodities, and Stock Lending, commented, “Wedbush is excited to become a clearing firm supporting FairX. When Neal contacted us about engaging in this offering, we immediately recognized this opportunity will have broad-based investor and trader level interest. A new exchange will always bring technology for the purpose of efficiency, but even more important in this opportunity, FairX is about experienced professionals making the market more affordable and accessible to a broader population.”

Neal Brady, CEO of FairX, added, “FairX took great encouragement from initial discussions with Wedbush. The firm’s immediate enthusiasm underscored the path we were taking. We are delighted to welcome Wedbush as one of the first clearing firms supporting our exchange.”

​In addition to Wedbush Futures, FairX's clearing service providers also include Nodal Clear, part of EEX Group.