Miami International Holdings, Inc. (MIH) announced the completion of the acquisition of Chicago-based Dorman Trading, a Commodity Futures and Trading Commission-regulated full-service Futures Commission Merchant (FCM).
The acquisition has expanded the portfolio of the holding company, which already owns the Miami International Securities Exchange (MIAX), MIAX Pearl, MIAX Emerald, Minneapolis Grain Exchange (MGEX) and The Bermuda Stock Exchange (BSX).
MGEX, a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), is registered with the US CFTC
CFTC
The 1974 Commodity Exchange Act (CEA) in the United States created the Commodity Futures Trading Commission (CFTC). The Commission protects and regulates market activities against manipulation, fraud, and abuse trade practices and promotes fairness in futures contracts. The CEA also included the Sad-Johnson Agreement, which defined the authority and responsibilities for the monitoring of financial contracts between the Commodity Futures Trading Commission and the Securities and Exchange Commission. These are today the largest regulators and authorities in the United States. The Commission works to guarantee that trading on the U.S. futures exchanges are fair and honest and maintain integrity in the marketplace. There are 11 U.S. Futures Exchanges. The Commission is outside of the political realm and is not controlled by any party. To ensure this at no time can more than three members represent the same political party.The CFTC has recently given the go-ahead to a startup exchange that wants to attract individual traders to the risky world of futures. The Small Exchange, headed by a former executive of T.D. Ameritrade Holding Corp., won approval from the Commodity Futures Trading Commission on in 2020 to become the newest U.S. futures exchange. The current exchanges in the U.S. under the regulatory authority of the CFTC include the following: Chicago Board Options Exchange (CBOE) CME Group International Monetary Market (IMM) Chicago Board of Trade (CBOT) Chicago Mercantile Exchange (CME / GLOBEX) New York Mercantile Exchange (NYMEX) and (COMEX) Kansas City Board of Trade (KCBT) NEX Group plc (NXG.L) Intercontinental Exchange (ICE) International Petroleum Exchange (IPE) 2001 New York Board of Trade (NYBOT) 2005 Winnipeg Commodity Exchange (WCE) 2007 TSX Group’s Natural Gas Exchange Partnership 2008 European Climate Exchange 2010 Chicago Climate Exchange (CCE) 2010 NYSE 2013 London International Financial Futures and Options Exchange (LIFFE) Minneapolis Grain Exchange (MGEX) Nadex (formerly HedgeStreet) OneChicago (Single-stock futures (SSF’s) and Futures on ETFs) Nasdaq Futures Exchange (NFX)
The 1974 Commodity Exchange Act (CEA) in the United States created the Commodity Futures Trading Commission (CFTC). The Commission protects and regulates market activities against manipulation, fraud, and abuse trade practices and promotes fairness in futures contracts. The CEA also included the Sad-Johnson Agreement, which defined the authority and responsibilities for the monitoring of financial contracts between the Commodity Futures Trading Commission and the Securities and Exchange Commission. These are today the largest regulators and authorities in the United States. The Commission works to guarantee that trading on the U.S. futures exchanges are fair and honest and maintain integrity in the marketplace. There are 11 U.S. Futures Exchanges. The Commission is outside of the political realm and is not controlled by any party. To ensure this at no time can more than three members represent the same political party.The CFTC has recently given the go-ahead to a startup exchange that wants to attract individual traders to the risky world of futures. The Small Exchange, headed by a former executive of T.D. Ameritrade Holding Corp., won approval from the Commodity Futures Trading Commission on in 2020 to become the newest U.S. futures exchange. The current exchanges in the U.S. under the regulatory authority of the CFTC include the following: Chicago Board Options Exchange (CBOE) CME Group International Monetary Market (IMM) Chicago Board of Trade (CBOT) Chicago Mercantile Exchange (CME / GLOBEX) New York Mercantile Exchange (NYMEX) and (COMEX) Kansas City Board of Trade (KCBT) NEX Group plc (NXG.L) Intercontinental Exchange (ICE) International Petroleum Exchange (IPE) 2001 New York Board of Trade (NYBOT) 2005 Winnipeg Commodity Exchange (WCE) 2007 TSX Group’s Natural Gas Exchange Partnership 2008 European Climate Exchange 2010 Chicago Climate Exchange (CCE) 2010 NYSE 2013 London International Financial Futures and Options Exchange (LIFFE) Minneapolis Grain Exchange (MGEX) Nadex (formerly HedgeStreet) OneChicago (Single-stock futures (SSF’s) and Futures on ETFs) Nasdaq Futures Exchange (NFX) Read this Term and offers a range of products, including Hard Red Spring Wheat Futures.
On the other hand, three other platforms, MIAX, MIAX Pearl and MIAX Emerald, are national securities exchanges registered with the Securities and Exchange Commission (SEC
Securities and Exchange Commission (SEC)
The Securities and Exchange Commission (SEC) is one of the most widely known independent authorities in the United States. The SEC has a wide range of responsibilities, helping police markets and curbing against abuse. This includes enforcing federal securities laws, proposing securities rules, and regulating the US’ stock and options exchanges.As one of the paramount regulatory authorities in the US, the SEC is responsible for the oversight of public companies in the aforementioned segments.What Does the SEC Do?In order to achieve its obligations, the SEC enforces statutory requirements that public companies and other regulated companies submit quarterly and annual reports.Such reports are instrumental in unearthing or bringing to light any market abuse or improper action, ensuring a high degree of compliance out of market participants.These reports are also essential in maintaining the transparency of equity markets, namely private companies.Quarterly and semiannual reports from public companies are important for investors to make sound decisions when investing in the capital markets. Investment in the capital markets is not guaranteed by the federal government with such safeguards put in place to add a layer of compliance for example.The SEC is composed of five divisions: Corporate Finance, Trading and Markets, Investment Management, Enforcement, and Economic and Risk Analysis.With 11 regional offices in the US, the SEC helps police markets nationwide. In recent years the agency has also relied on additional forces for assistance as well, with the installment of the SEC Office of the Whistleblower.Founded in 2010, the SEC Whistleblower program has since awarded over $400 million to whistleblowers.
The Securities and Exchange Commission (SEC) is one of the most widely known independent authorities in the United States. The SEC has a wide range of responsibilities, helping police markets and curbing against abuse. This includes enforcing federal securities laws, proposing securities rules, and regulating the US’ stock and options exchanges.As one of the paramount regulatory authorities in the US, the SEC is responsible for the oversight of public companies in the aforementioned segments.What Does the SEC Do?In order to achieve its obligations, the SEC enforces statutory requirements that public companies and other regulated companies submit quarterly and annual reports.Such reports are instrumental in unearthing or bringing to light any market abuse or improper action, ensuring a high degree of compliance out of market participants.These reports are also essential in maintaining the transparency of equity markets, namely private companies.Quarterly and semiannual reports from public companies are important for investors to make sound decisions when investing in the capital markets. Investment in the capital markets is not guaranteed by the federal government with such safeguards put in place to add a layer of compliance for example.The SEC is composed of five divisions: Corporate Finance, Trading and Markets, Investment Management, Enforcement, and Economic and Risk Analysis.With 11 regional offices in the US, the SEC helps police markets nationwide. In recent years the agency has also relied on additional forces for assistance as well, with the installment of the SEC Office of the Whistleblower.Founded in 2010, the SEC Whistleblower program has since awarded over $400 million to whistleblowers. Read this Term), offering options. Further, BSX, with headquarters in Bermuda, is an electronic international securities market.
Expanding Offerings
“The acquisition of Dorman Trading is an important part of our strategy to continue growing the products and services we can offer in futures trade execution, listing and clearing,” said MIH’s Chairman and CEO, Thomas Gallagher.
“We are thrilled to complete this acquisition and look forward to supporting Dorman Trading in expanding its capabilities and the services it offers to customers.”
Indeed, Dorman offers execution and clearing services to introduce brokers, retail customers, institutional clients and professional traders as a regulated FCM. Its business pivoted from being a floor-clearing business to clearing electronic trading as the industry evolved in the past two decades.
Daniel Dorman, the Senior Vice President and COO of Dorman Trading, said: “Dorman Trading is proud of the service-oriented, customer-centric business model we have used to provide clearing services to our customers for the past 40 years.”
“We are excited to grow our capabilities and services as we embark on this next step in our history, combining Dorman Trading’s experience as an FCM with MIH’s resources and vision.”
Miami International Holdings, Inc. (MIH) announced the completion of the acquisition of Chicago-based Dorman Trading, a Commodity Futures and Trading Commission-regulated full-service Futures Commission Merchant (FCM).
The acquisition has expanded the portfolio of the holding company, which already owns the Miami International Securities Exchange (MIAX), MIAX Pearl, MIAX Emerald, Minneapolis Grain Exchange (MGEX) and The Bermuda Stock Exchange (BSX).
MGEX, a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), is registered with the US CFTC
CFTC
The 1974 Commodity Exchange Act (CEA) in the United States created the Commodity Futures Trading Commission (CFTC). The Commission protects and regulates market activities against manipulation, fraud, and abuse trade practices and promotes fairness in futures contracts. The CEA also included the Sad-Johnson Agreement, which defined the authority and responsibilities for the monitoring of financial contracts between the Commodity Futures Trading Commission and the Securities and Exchange Commission. These are today the largest regulators and authorities in the United States. The Commission works to guarantee that trading on the U.S. futures exchanges are fair and honest and maintain integrity in the marketplace. There are 11 U.S. Futures Exchanges. The Commission is outside of the political realm and is not controlled by any party. To ensure this at no time can more than three members represent the same political party.The CFTC has recently given the go-ahead to a startup exchange that wants to attract individual traders to the risky world of futures. The Small Exchange, headed by a former executive of T.D. Ameritrade Holding Corp., won approval from the Commodity Futures Trading Commission on in 2020 to become the newest U.S. futures exchange. The current exchanges in the U.S. under the regulatory authority of the CFTC include the following: Chicago Board Options Exchange (CBOE) CME Group International Monetary Market (IMM) Chicago Board of Trade (CBOT) Chicago Mercantile Exchange (CME / GLOBEX) New York Mercantile Exchange (NYMEX) and (COMEX) Kansas City Board of Trade (KCBT) NEX Group plc (NXG.L) Intercontinental Exchange (ICE) International Petroleum Exchange (IPE) 2001 New York Board of Trade (NYBOT) 2005 Winnipeg Commodity Exchange (WCE) 2007 TSX Group’s Natural Gas Exchange Partnership 2008 European Climate Exchange 2010 Chicago Climate Exchange (CCE) 2010 NYSE 2013 London International Financial Futures and Options Exchange (LIFFE) Minneapolis Grain Exchange (MGEX) Nadex (formerly HedgeStreet) OneChicago (Single-stock futures (SSF’s) and Futures on ETFs) Nasdaq Futures Exchange (NFX)
The 1974 Commodity Exchange Act (CEA) in the United States created the Commodity Futures Trading Commission (CFTC). The Commission protects and regulates market activities against manipulation, fraud, and abuse trade practices and promotes fairness in futures contracts. The CEA also included the Sad-Johnson Agreement, which defined the authority and responsibilities for the monitoring of financial contracts between the Commodity Futures Trading Commission and the Securities and Exchange Commission. These are today the largest regulators and authorities in the United States. The Commission works to guarantee that trading on the U.S. futures exchanges are fair and honest and maintain integrity in the marketplace. There are 11 U.S. Futures Exchanges. The Commission is outside of the political realm and is not controlled by any party. To ensure this at no time can more than three members represent the same political party.The CFTC has recently given the go-ahead to a startup exchange that wants to attract individual traders to the risky world of futures. The Small Exchange, headed by a former executive of T.D. Ameritrade Holding Corp., won approval from the Commodity Futures Trading Commission on in 2020 to become the newest U.S. futures exchange. The current exchanges in the U.S. under the regulatory authority of the CFTC include the following: Chicago Board Options Exchange (CBOE) CME Group International Monetary Market (IMM) Chicago Board of Trade (CBOT) Chicago Mercantile Exchange (CME / GLOBEX) New York Mercantile Exchange (NYMEX) and (COMEX) Kansas City Board of Trade (KCBT) NEX Group plc (NXG.L) Intercontinental Exchange (ICE) International Petroleum Exchange (IPE) 2001 New York Board of Trade (NYBOT) 2005 Winnipeg Commodity Exchange (WCE) 2007 TSX Group’s Natural Gas Exchange Partnership 2008 European Climate Exchange 2010 Chicago Climate Exchange (CCE) 2010 NYSE 2013 London International Financial Futures and Options Exchange (LIFFE) Minneapolis Grain Exchange (MGEX) Nadex (formerly HedgeStreet) OneChicago (Single-stock futures (SSF’s) and Futures on ETFs) Nasdaq Futures Exchange (NFX) Read this Term and offers a range of products, including Hard Red Spring Wheat Futures.
On the other hand, three other platforms, MIAX, MIAX Pearl and MIAX Emerald, are national securities exchanges registered with the Securities and Exchange Commission (SEC
Securities and Exchange Commission (SEC)
The Securities and Exchange Commission (SEC) is one of the most widely known independent authorities in the United States. The SEC has a wide range of responsibilities, helping police markets and curbing against abuse. This includes enforcing federal securities laws, proposing securities rules, and regulating the US’ stock and options exchanges.As one of the paramount regulatory authorities in the US, the SEC is responsible for the oversight of public companies in the aforementioned segments.What Does the SEC Do?In order to achieve its obligations, the SEC enforces statutory requirements that public companies and other regulated companies submit quarterly and annual reports.Such reports are instrumental in unearthing or bringing to light any market abuse or improper action, ensuring a high degree of compliance out of market participants.These reports are also essential in maintaining the transparency of equity markets, namely private companies.Quarterly and semiannual reports from public companies are important for investors to make sound decisions when investing in the capital markets. Investment in the capital markets is not guaranteed by the federal government with such safeguards put in place to add a layer of compliance for example.The SEC is composed of five divisions: Corporate Finance, Trading and Markets, Investment Management, Enforcement, and Economic and Risk Analysis.With 11 regional offices in the US, the SEC helps police markets nationwide. In recent years the agency has also relied on additional forces for assistance as well, with the installment of the SEC Office of the Whistleblower.Founded in 2010, the SEC Whistleblower program has since awarded over $400 million to whistleblowers.
The Securities and Exchange Commission (SEC) is one of the most widely known independent authorities in the United States. The SEC has a wide range of responsibilities, helping police markets and curbing against abuse. This includes enforcing federal securities laws, proposing securities rules, and regulating the US’ stock and options exchanges.As one of the paramount regulatory authorities in the US, the SEC is responsible for the oversight of public companies in the aforementioned segments.What Does the SEC Do?In order to achieve its obligations, the SEC enforces statutory requirements that public companies and other regulated companies submit quarterly and annual reports.Such reports are instrumental in unearthing or bringing to light any market abuse or improper action, ensuring a high degree of compliance out of market participants.These reports are also essential in maintaining the transparency of equity markets, namely private companies.Quarterly and semiannual reports from public companies are important for investors to make sound decisions when investing in the capital markets. Investment in the capital markets is not guaranteed by the federal government with such safeguards put in place to add a layer of compliance for example.The SEC is composed of five divisions: Corporate Finance, Trading and Markets, Investment Management, Enforcement, and Economic and Risk Analysis.With 11 regional offices in the US, the SEC helps police markets nationwide. In recent years the agency has also relied on additional forces for assistance as well, with the installment of the SEC Office of the Whistleblower.Founded in 2010, the SEC Whistleblower program has since awarded over $400 million to whistleblowers. Read this Term), offering options. Further, BSX, with headquarters in Bermuda, is an electronic international securities market.
Expanding Offerings
“The acquisition of Dorman Trading is an important part of our strategy to continue growing the products and services we can offer in futures trade execution, listing and clearing,” said MIH’s Chairman and CEO, Thomas Gallagher.
“We are thrilled to complete this acquisition and look forward to supporting Dorman Trading in expanding its capabilities and the services it offers to customers.”
Indeed, Dorman offers execution and clearing services to introduce brokers, retail customers, institutional clients and professional traders as a regulated FCM. Its business pivoted from being a floor-clearing business to clearing electronic trading as the industry evolved in the past two decades.
Daniel Dorman, the Senior Vice President and COO of Dorman Trading, said: “Dorman Trading is proud of the service-oriented, customer-centric business model we have used to provide clearing services to our customers for the past 40 years.”
“We are excited to grow our capabilities and services as we embark on this next step in our history, combining Dorman Trading’s experience as an FCM with MIH’s resources and vision.”
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