Chicago, IL – May 27, 2021 – Wedbush Futures, one of the largest non-bank Futures Commission Merchants (FCMs) in the United States, announces it has expanded its clearing footprint to include support of FairX, a newly announced futures exchange for retail investors, offering virtually around-the-clock trading and low-cost access to the most liquid asset classes in the global futures industry. This exchange represents a new opportunity in the marketplace for Wedbush and its clients. FairX expects to launch in June.
FairX’s initial product slate will include 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.
“Wedbush is excited to become a clearing firm supporting FairX,” stated Bob Fitzsimmons, EVP, Fixed Income, Commodities, and Stock Lending. “When Neal contacted us about engaging in this offering, we immediately recognized this opportunity will have broad-based investor and trader level interest. Wedbush was founded in entrepreneurship and is inspired when industry colleagues create a new offering for the marketplace. A new exchange will always bring technology for the purpose of efficiency, but even more important in this opportunity, FairX is about experienced professionals making the market more affordable and accessible to a broader population.”
Neal Brady, CEO of FairX, added, “FairX took great encouragement from initial discussions with Wedbush. The firm’s immediate enthusiasm underscored the path we were taking. We are delighted to welcome Wedbush as one of the first clearing firms supporting our exchange.”
About Wedbush Securities
Wedbush Securities Inc. is registered as a Futures Commission Merchants (“FCM”) and is one of the largest non-bank owned FCMs . Wedbush specializes in clearing, execution, and financing activities for professional traders and Introducing Brokers. Located in Chicago, Wedbush is at the forefront of our business, with deep industry specialization and a distinguished track record in financial derivatives. Its client relationships are built on trust and supported by the firm, which is rooted in experience, stability, and innovation.
FairXTM was founded in collaboration with leading online brokers to meet the needs of the global retail investor. FairX is a trademarked operating name of LMX Labs, LLC, 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.