CHICAGO, May 26, 2021 — In alignment with many of the largest online brokerage firms, clearing firms and liquidity providers, LMX Labs today announced plans to launch a new CFTC-regulated futures exchange to offer smaller, simpler, more accessible futures for active individual investors.
A wide range of firms have committed to offering LMX Labs products at launch, 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. Nodal Clear, part of EEX Group, which is in turn part of Deutsche Börse Group, will provide clearing services to LMX Labs.
Launching in June, LMX Labs will offer low-cost, around-the-clock trading access to the most liquid asset classes in the global futures industry. LMX Labs 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.
LMX Labs CEO Neal Brady said: “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. LMX Labs 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.”
“As investors in LMX Labs and strategic contributors to the platform, we believe the LMX Labs offering will provide attractive product and execution alternatives to our global clients,” said J.B. Mackenzie, Managing Director at TD Ameritrade Futures & Forex, LLC. “We look forward to working with the LMX Labs team to expand the retail futures landscape.”
“As a leading U.S. clearing house across an expanding range of asset classes, we’re excited to work with LMX Labs to serve the needs of the global retail trading community by providing reliable, virtually around-the-clock clearing and settlement services,” said Paul Cusenza, Chairman & CEO of Nodal Clear.
LMX Labs 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.
About LMX Labs
LMX Labs was founded in collaboration with leading online brokers to meet the needs of the global retail investor. LMX Labs, LLC is the legal entity registered as a Designated Contract Market (DCM) regulated by the U.S. Commodity Futures Trading Commission (CFTC). The exchange clears through Nodal Clear, a Derivatives Clearing Organization (DCO) and part of EEX Group, which is in turn part of Deutsche Börse Group.
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