Kraken announces acquisition of CFTC-licensed designated contract market Small Exchange for $100 million

Techub News, according to Businesswire, cryptocurrency exchange Kraken announced the acquisition of the IG Group-owned Small Exchange for $100 million. As a Designated Contract Market (DCM) authorized by the U.S. Commodity Futures Trading Commission (CFTC), this move aims to lay the foundation for Kraken to launch a local derivatives product series in the United States. The DCM status of Small Exchange enables Kraken to design, list, and operate derivatives markets under CFTC supervision, integrating trading, clearing, and risk management infrastructure. This will reduce trading fragmentation, lower capital and latency costs, and advance its goal of building a mature domestic trading platform within the global capital markets.