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Kraken buys Small Exchange for $100 million to launch US derivatives trading platform
Kraken has acquired Small Exchange, a CFTC-regulated Designated Contract Market, from IG Group for $100 million. The acquisition allows Kraken to establish a fully U.S.-based derivatives trading platform, the company said in a Thursday announcement. “This step connects spot, futures, and margin products inside a single regulated liquidity system … Under CFTC oversight, Kraken can now integrate clearing, risk, and matching into one environment that meets the same standards as the largest exchanges in the world," said Arjun Sethi, co-CEO of Kraken. This deal follows Kraken's earlier efforts to expand into the U.S. ... (full story)
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