The cryptocurrency exchange Kraken is nearing a $1.5 billion deal for NinjaTrader, a U.S. retail futures trading platform, in a bid to expand its user base and move into other asset classes, according to people familiar with the matter. https://www.wsj.com/business/deals/...on-deal-for-futures-trading-business-55466346 According to a WallStreetJournal (WSJ) report, Kraken is in the final third of an ambitious plan to purchase NinjaTrader. According to the post, the deal is worth $1.5 billion and will see NinjaTrader become a subsidiary of the US-based cryptocurrency exchange. Barring any eventualities, insiders say Kraken will announce the completion of the deal before the end of the week. While details are sparse, the move signals Kraken’s interest in dabbling in derivatives and crypto futures. Kraken is seeking to expand its offerings but the exchange remains wary of regulatory challenges that could bedevil the plans. The US SEC just shuttered its Kraken case that sought to view the firm as a stock exchange. To sidestep the regulatory hurdles, the purchase will allow the exchange to lean on NinjaTrader’s Futures Commission Merchant (FCM) license to offer its derivatives offering. Kraken has the funds to see the deal through given impressive financial metrics for the exchange. The US-based crypto exchange racked in over $1.5 billion in revenue, doubling its profits over the last year. Both Parties Have An Eye On Expansion Apart from sidestepping potential regulatory hurdles, purchasing NinjaTrader will introduce Kraken to a new demographic. Launched in 2003, NinjaTrader has racked up over 1.8 million retail investors with the deal offering several perks for the futures trading company. The move will see Kraken support NinjaTrader’s bid to enter the UK and Australian markets. Kraken’s EMI approval from the UK’s Financial Conduct Authority (FCA) may smoothen NinjaTrader’s entry into the UK. The top crypto exchange has previously secured a MiFID license to offer crypto derivatives to EU-based traders. In line with its expansionist goals, the exchange reintroduced cryptocurrency staking service for US customers.
So does this mean I can trade spot Bitcoin? AFAIK no direct futures outfit offers cryptos. (Yeah yeah, I know IB offers it but they're like a hodgepodge. To this day, I don't even know what their specialty is.)
Official Kraken to Acquire NinjaTrader: Introducing the Next Era of Professional Trading https://ninjatrader.com/news/kraken...oducing-the-next-era-of-professional-trading/
Only if you have the Portfolio margin, which requires you maintain $100K minimum. I ain't sure their Reg-T is any better.
I'm looking for a new broker and trading platform. I don't want to be involved in any way with Kraken.