Crypto News: New Robinhood Exchange to Offer Futures and Prediction Products
The post Crypto News: New Robinhood Exchange to Offer Futures and Predicticom. Robinhood partners with Susquehanna to launch a new exchange. It will offer futures, derivatives, and prediction products, deepening its market foray. Robinhood is deepening its foray into prediction markets. It is partnering with Susquehanna International Group to launch a new joint venture. This venture will establish a futures, derivatives exchange, and a clearinghouse. This is a major expansion for the financial platform. Robinhood Expands into Futures and Prediction Markets In a statement released Tuesday, Robinhood said that the joint venture will be controlled by Robinhood Markets Inc. It will also acquire MIAXdx. This includes the Derivatives Clearing Organization and Swap Execution Facility. These are from the Miami International Holdings. MIAXdx is a Designated Contract Market. It is licensed by the Commodity Futures Trading Commission. Robinhood is launching a futures and derivatives exchange and clearing house. This strengthens its investment in Prediction Markets. It better places the company to provide innovative products to the customers. This strategic move is to diversify its offers. Related Reading: Crypto News: Robinhood Lists Ethena What’s Next for ENA Price? | Live Bitcoin News “Robinhood is receiving a lot of customer demand for prediction markets,” said JB Mackenzie. He is a VP and General Manager of Futures and International at Robinhood. “We’re excited to build on that momentum.” He also added, “Our investment in infrastructure will help us better provide an even better experience and more innovative products for our customers.” The independent exchange will be managed by joint venture. Robinhood Markets, Inc. will be the controlling partner. It will also help to provide great retail demand and distribution. Market making leader Susquehanna International Group has come on as a key partner. They are going to be a day one liquidity provider. Other liquidity providers will be added. This is critical in ensuring the best.