NinjaTrader Group, LLC purchased futures commission merchant TransAct Futures on the last tick of the clock on December 31, 2020, giving the owner of the fast growing technology and brokerage firm their own FCM to modernize their business. NinjaTrader’s goal with this deal and their growth plan is to become nothing short of the “number one destination for active futures traders.” Currently NinJaTrader Brokerage clears through Dorman Trading and Phillips Capital. That will not change in the short term, as Franchi said they needed to ramp up all aspects of TransAct to be able to handle the NinjaTrader business. Franchi said he expects to hire 20 to 25 new people in the next year to scale the TransAct business. NinjaTrader has about 180 employees, with a little more than 20 of them coming from TransAct and Infinity Futures in the deal. Franchi says he expects it will take “six months” before beginning to transition NinjaTrader clients to TransAct. When they are done, TransAct will remain a standalone FCM. NinjaTrader Brokerage will be their chief client as an Independent Introducing Broker.. https://johnlothiannews.com/transac...-ninjatrader-brokerage-an-introducing-broker/
Our official press release can be found here - https://ninjatrader.com/NewsReleases/NinjaTrader-Acquires-TransAct-Futures An initial FAQ can be found here - https://ninjatrader.com/TransAct-Infinity-Futures-FAQ
Interesting news, but also a bit funny. Transact is a non-clearing FCM, they clear through Dorman so far ...