The Small Exchange

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Founded 2019
Headquarters Chicago
Key People Donnie Roberts, president and CEO
Products retail focused futures exchange

The Small Exchange is a pending futures market aimed at retail customers. The company, founded in January 2019, was co-founded by the Tastytrade's founder Tom Sosnoff and Peak6's founders Matt Hulsizer and Jenny Just.[1]

The exchange has filed to become a registered designated contract market, or futures exchange, with the Commodity Futures Trading Commission, and its application is pending. It expects to launch in Q3 2019.[2] The platform will start with futures and add options later.[3]


The Small Exchange was formed to become the world's largest "customer-centric" futures exchange, aiming to offer contracts designed for retail traders. It offered an initial one-time subscription to the exchange, a 50 percent discount on exchange fees and reduced market data fees. Up to 25,000 subscriptions were offered at $100 each.

The goal of the exchange is to make futures trading easy and attainable for customers.

Products and Services

The exchange runs on proprietary matching technology.

Key People


  1. The Small Exchange®, a New Customer-Focused Futures Exchange for the Everyday Investor to Launch. Press Release.
  2. A new exchange . . . with new products . . . for traders of all sizes. Small Exchange.
  3. Tastytrade, Peak6 invest $10 million in new exchange. Crain's Chicago Business.