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Small Exchange
The Small Exchange is a CFTC-registered Designated Contract Market that makes futures markets more accessible by offering smaller, standardized, and simplified futures products. It serves clearing firms, corporate members, liquidity providers, and individual traders seeking more capital-efficient alternatives to stocks.
Chicago, USA
Description
The Small Exchange, Inc. is a Designated Contract Market registered with the U.S. Commodity Futures Trading Commission, focused on making futures markets more accessible to a broader range of traders. Futures are more capital-efficient than stocks, but their complexity and size have historically limited adoption; the Small Exchange addresses this by offering 'Smalls' — futures products that are small in size, standardized (sharing the same tick size and expiration date), and simple, providing holistic representations of financial markets. The company partners with clearing and non-clearing firms, inviting clearing members, corporate members, and liquidity providers to offer or trade its markets, including through a Liquidity Provider Incentive Program. The Small Exchange, Inc. is affiliated with Payward Interactive, Inc. and Ninjatrader Clearing, LLC, as subsidiaries of Payward, Inc.Grant Funding
VC Funding
None
2025
$0
$100M