Add-on Acquisition • Internet Software and Services

miax Acquires Dorman Trading

On October 21, 2022, miax acquired internet software and services company Dorman Trading

Acquisition Context
  • This is miax’s 1st transaction in the Internet Software and Services sector.
  • This is miax’s 2nd transaction in the United States.
  • This is miax’s 1st transaction in Illinois.

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M&A Deal Summary

Date October 21, 2022
Target Dorman Trading
Sector Internet Software and Services
Buyer(s) miax
Deal Type Add-on Acquisition

Target Company

Dorman Trading

Chicago, Illinois, United States
Dorman Trading is an FCM registered with the CFTC and member of the National Futures Association that provides execution and clearing services for introducing brokers, retail customers, institutional clients and professional traders. Dorman Trading is based in Chicago, Illinois.
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Buyer Overview 1

Buyer

miax

Princeton, New Jersey, United States

Category Company
Sector Financial Services
Revenue 1.1B USD (2024)
DESCRIPTION

miax provides member firms with traditional pricing and pro-rata allocation (MIAX), maker-taker pricing and price-time allocation (MIAX PEARL) market structures, and a hybrid market structure with maker-taker pricing and pro-rata allocation (MIAX Emerald). It is the parent holding company of Miami International Securities Exchange, LLC (MIAX), MIAX PEARL, LLC (MIAX PEARL) and MIAX Emerald, LLC (MIAX Emerald and together with MIAX and MIAX PEARL, the MIAX Exchange Group), three fully electronic options trading exchanges. miax is based in Princeton, New Jersey.


Deal Context for Buyer #
Overall 3 of 5
Sector: Internet Software and Services 1 of 1
Type: Add-on Acquisition 2 of 2
State: Illinois 1 of 1
Country: United States 2 of 4
Year: 2022 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-04 The Minneapolis Grain Exchange

Minneapolis, Minnesota, United States

The Minneapolis Grain Exchange, Inc. (MGEX) is one of the oldest trading venues in America and historically concentrated on trading in agricultural products, including hard red spring wheat contracts. The Minneapolis Grain Exchange, Inc. (MGEX) was founded in 1881 and is based in Minneapolis, Minnesota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-25 MIAX Derivatives Exchange

Princeton, New Jersey, United States

MIAX Derivatives Exchange (MIAXdx) is a digital currency futures and options exchange and clearinghouse regulated by the US Commodity Futures Trading Commission (CFTC). MIAXdx is based in Princeton, New Jersey.

Buy -