10.21.2022

Miami International Holdings Buys FCM Dorman Trading

10.21.2022
Miami International Holdings Buys FCM Dorman Trading

Miami International Holdings, Inc. (MIH), owner of Miami International Securities Exchange, LLC (MIAX®), MIAX PEARL, LLC (MIAX Pearl®), MIAX Emerald, LLC (MIAX Emerald®), Minneapolis Grain Exchange, LLC (MGEXTM), and The Bermuda Stock Exchange (BSXTM), announced that it has completed the acquisition of Dorman Trading, LLC (Dorman Trading), a full-service Futures Commission Merchant (FCM) registered with the Commodity Futures Trading Commission (CFTC).

Dorman Trading is a Chicago-based FCM providing execution and clearing services for introducing brokers, retail customers, institutional clients and professional traders. Over the past two decades, Dorman Trading has pivoted from primarily a floor clearing business to one focused on clearing electronic trading.

“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 Thomas P. Gallagher, Chairman and Chief Executive Officer of MIH. “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.”

“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,” said Daniel P. Dorman, Senior Vice President and Chief Operating Officer of Dorman Trading. “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.”

Piper Sandler & Co. acted as financial advisor to Miami International Holdings, Inc.

Source: Miami International Holdings

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