A new exchange named Fair Exchange or FairX is launching in what looks like a few weeks. This exchange is focused on bringing new products for online traders and is highly focused on individuals.
I have spent a fair amount of time with the founders and here's what I found:
No real-time data fees and gimmicky cost structures
No subscriptions or memberships. Everyone is treated equally
The exchange has what looks like a very unique offering
The founders are highly experienced exchange operators with excellent pedigree
Their products are relatively unique. More importantly, the exchange appears to be very nimble in terms of creating new products that futures traders might want to have exposure to
The pricing structure is very simple and favors individual traders versus institutional or algo traders (it costs about 5x more to trade on FairX as an institution)
It will be available across some key clearing firms (my own brokerage, Edge Clear, will be offering it at launch)
Personally, I would really love it if an exchange like this would get support from all traders. We still need to see how liquid the products are and how well they are received. However, it takes time and a commitment from us participants to get this going.
Here's their press release:
Here's their current fee structure:
With their office being 1 block away from the Edge Clear office, we can hopefully work closely with them to bring your message and needs to them to address.