Miami International Holdings, a provider of trading services, has bought Dorman Trading LLC, a 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 20 years, Dorman Trading has went from a floor clearing business to a business 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,” comments Thomas 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.”
Piper Sandler & Co. acted as financial advisor to Miami International Holdings.