What is the Small Exchange?
The Small Exchange has filed an application with the Commodity Futures Trading Commission (“CFTC”) seeking designation as a contract market (“DCM”). The Small Exchange has been formed to create a futures exchange to facilitate the trading of Exchange-created proprietary products for all types of market participants including, but not limited to, market makers/liquidity providers, IBs, FCMs, proprietary trading firms and hedge funds, all with a primary focus on the public retail customer. The Exchange seeks to provide and oversee a fair, reliable and efficient marketplace for the products and services we offer.
What products will the Small Exchange offer?
The Exchange and its proprietary products are designed primarily with a public customer focus, keeping in mind the need for liquidity providers, while presenting opportunity for Futures Commission Merchants to expand their product offering. The Exchange intends to provide futures traders with standardized, cash settled indexes. Once approval is received from the CFTC, we’ll provide more details around our products. Be sure to sign-up on the website, www.thesmallexchange.com, to receive the latest news from the Exchange.
When will the Small Exchange be approved by the CFTC?
The Small Exchange’s application has been submitted to and was accepted by the CFTC in December 2018. The CFTC generally reviews the application for 180 days; however, there are no guarantees that the Small Exchange will be approved by the CFTC within this timeframe or at all.
Who operates the Small Exchange?
Donnie Roberts, who has over 20 years experience in the financial industry, is the CEO of the Small Exchange. He was a founding employee and principal of thinkorswim and former President and Chief Operating Officer of TD Ameritrade’s Futures and Forex division. Donnie has assembled a team of experienced operations, technology, regulatory and compliance personnel to help stand up the Exchange.
What is the Subscription Offer?
The Small Exchange has created an introductory offer which entitles individual holders to a lifetime subscription to the Exchange with no renewal or annual fees, 50% discounted Exchange fees and reduced market data fees. Both introducing brokers and futures commission merchants may participate in the introductory offer for their customers as well. This introductory offer is good from January 2, 2019 until the earlier of 15 days after the approval of the Small Exchange’s DCM application by the CFTC or the subscriptions are sold out. There will be a limited number at 25,000 subscriptions offered for $100 each.
What happens to my $100 if the CFTC does not approve the Small Exchange?
All payments received by the Small Exchange will be placed in an account at the bank of the Exchange’s choosing, for the benefit of the individual Subscribers of the Exchange. In the event that the CFTC does not approve the Exchange’s application, or the Exchange withdraws its application, all funds in the account for the benefit of the individual Subscriber shall be returned to their sender.
Can I purchase more than one Subscription for myself?
No, you can only have one Subscription on the Small Exchange.
If my broker does not have a relationship with the Small Exchange, can I purchase a Subscription directly from the Small Exchange for $100?
Yes, please click the Sign me Up button on the Small Exchange website, www.thesmallexchange.com, to begin the process. Please be aware, if your broker does not have a relationship with the Small Exchange, you will not be able to take advantage of the Subscription.
How do I know if my broker has a relationship with the Small Exchange?
You will need to call your broker and ask or contact the Small Exchange at firstname.lastname@example.org.
If I do not have a futures trading account, can I purchase a Subscription directly from the Small Exchange for $100?
Yes, please click the Sign me Up button on the Small Exchange website, www.thesmallexchange.com, to begin the process. Please be aware, if your broker does not have a relationship with the Small Exchange or you do not have the ability to trade futures in your trading account, you will not be able to take advantage of the Subscription.
How do I pay the $100 fee for the Subscription Offer?
After you accept the Subscription Offer, the Small Exchange will be in contact with you to provide more information.
I accepted the offer, when will I be a Subscriber to the Small Exchange?
We will contact you (at least 30 days prior to the deadline) with instructions on how to complete your Subscription application.
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