Miami International Holdings has completed the acquisition of Dorman Trading, a full-service Futures Commission Merchant (FCM) registered with the Commodity Futures Trading Commission (CFTC).
Based in Chicago, Dorman Trading is a FCM which provides execution and clearing services for introducing brokers, retail customers, institutional clients and professional traders.
Over the last two decades, Dorman Trading has transitioned from primarily serving as a floor clearing business to one 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,” said Thomas Gallagher, chairman and chief executive of Miami International Holdings.
“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 for the acquisition of Dorman Trading.
“Dorman Trading is proud of the service-oriented, customer-centric business model we have used to provide clearing services to our customers for the past 40 years,” said Daniel Dorman, senior vice president and chief operating officer of Dorman Trading.
“We are excited to grow our capabilities and services as we embark on this next step in our history, combining Dorman Trading’s experience as an FCM with MIH’s resources and vision.”