The Small Exchange, a Chicago, IL-based new futures exchange offering products aimed toward retail customers, secured $4m in funding.
Backers included Interactive Brokers (Nasdaq: IBKR) and Phillip Capital Group. As strategic partners, both firms will be key participants on the Small Exchange.
The company intends to use the funds to invest in its operations and expand its offering including additional futures products and options to individual traders and small trading firms seeking to connect to these markets.
Led by Don Roberts, President and CEO, and Lynette Lim, Co-CEO and Director, The Small Exchange offers products designed to bridge the futures product gap for investors and participants of all sizes. The company serves clients in over 200 countries and territories, connecting them to 135 markets in 33 countries. As of June 1, 2020, the Small Exchange has 18 partners including some of the world’s largest trading firms and market-makers. It has launched 3 products including an Equity Index, Dollar Index, and Metals Index.