FairX’s new Micro Crude Oil Futures for retail traders on several US brokers

Rick Steves

Brokers offering FairX products include TD Ameritrade, E*TRADE, ABN AMRO, Daniels Trading, Tradovate, Phillip Capital, StoneX and subsidiaries Futures Online and Gain Futures.

Fair Exchange, also known as FairX, has launched Micro Crude Oil Futures in a move to enhance the Chicago-based global futures exchange’s listing.

FairX is an exchange operator that caters to the retail market and the firm claims this cash-settled contract, based on the West Texas Intermediate (WTI) crude oil benchmark, is the most cost-effective way for retail investors to trade the price of crude oil.

Nodal Clear is the clearing partner for FairX, covering all futures contracts listed on the exchange. The FairX Micro Crude Oil Futures contract is sized at 100 barrels and will trade 23 hours a day.

Neal Brady, Chief Executive Officer at FairX, said: “We’re excited to broaden our product line with Micro Crude Oil Futures as we continue on our mission to provide the retail sector with around-the-clock, low-cost opportunities to access liquid futures markets. Our partnership with Nodal Clear provides critical risk management to our business model as we expand into this new asset class.”

Paul Cusenza, Chairman and CEO of Nodal Clear, commented: “Nodal Clear is excited to provide the clearing services to support the launch of FairX Micro Crude Oil Futures, enabling retail access to this significant commodity”.

Boris Ilyevsky, Chief Product and Strategy Officer of FairX, added: “We’re breaking down the barriers that have kept many individual investors from participating in the futures market and in key sectors like oil by designing our products specifically for them – making them straightforward and easy to understand with low fees and free market data.

“We’ve listened closely to what retail investors need and believe our products appeal not only to experienced futures traders but to those individuals who have long desired to take positions in markets that have been cost-prohibitive, too large or unnecessarily complex.”

FairX was launched earlier this year in collaboration with many of the leading online brokerage firms, clearing firms and liquidity providers.

Initial contracts trading on the exchange include futures on the Bloomberg US Large Cap Index, tracking the largest 500 companies by market cap, and on the SuperTech Index, tracking 15 of the largest and most actively traded companies engaged in high-growth technology, media and manufacturing industries. Both products are offered in two contract sizes, Nano and Micro.

Several large and well-established brokers are currently offering instruments listed on the Fair Exchange, including TD Ameritrade, E*TRADE, ABN AMRO, ADM Investor Service, Advantage Futures, Cannon, Daniels Trading, Dorman, Edge Clear, StoneX’s subsidiaries Futures Online and Gain Futures, Tradovate, Wedbush, Stage 5, Optimus Futures, and Phillip Capital.

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