American Exchange Kraken acquired the Small Exchange platform, regulated by the U.S. Commodity Futures Trading Commission (CFTC), from IG Group for $100 million.
This acquisition will allow Kraken create a fully American platform for derivatives trading, the company said.
This move brings together spot, futures and margin products under a single regulated liquidity system… Overseen by the Commodity Futures Trading Commission (CFTC) Kraken will be able to integrate clearing, risk management and matching into a single environment that meets the same standards as the world’s largest exchanges, the co-CEO said. Kraken Arjun Sethi.
The US cryptocurrency derivatives market has grown significantly over the past year, primarily due to increased institutional participation and an increase in the supply of regulated products.
According to leading US derivatives marketplace CME Group, the average daily cryptocurrency trading volume in the second quarter of this year increased by 136% to 190,000 contracts compared to the same period last year.