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.

As FX News Group has reported, FairX, a new futures exchange for retail investors, is set to launch in June 2021. The new Exchange will offer 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’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 member of FairX,” stated Bob Fitzsimmons, EVP, Fixed Income, Commodities, and Stock Lending. “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.”