First Retail Futures Broker to Offer SPIKES Futures and First Broker to Provide Commission-Free Access
CHICAGO, June 22, 2023 – NinjaTrader Group, LLC, a global leader in futures brokerage and advanced technology for active traders through its NinjaTrader subsidiary, today announced that its retail-focused futures brokerage firm is the first to offer access to MIAX’s SPIKES® Futures, which are traded and cleared on Minneapolis Grain Exchange (MGEX™), a subsidiary of Miami International Holdings, Inc. NinjaTrader is the first brokerage to offer the volatility products commission-free.
NinjaTrader Group CEO Martin Franchi said: “We’re excited to make futures on the SPIKES volatility index available to our retail futures trading community. This aligns not only with NinjaTrader’s mission to support exchange product innovation, but also with the needs of our customers, who are increasingly looking for new vehicles for managing their risk in today’s uncertain economic environment. We know that active individual investors are very interested in intraday volatility, and SPIKES futures can provide an avenue for hedging equity portfolios as well as taking a position on the daily market fluctuations.”
“We are pleased NinjaTrader has made SPIKES Futures available to its clients, who will now have access to an innovative volatility product that can help manage their equity exposure,” said Thomas P. Gallagher, Chairman and CEO of Miami International Holdings, Inc. "As we look to broaden our product offering, MIAX is creating products built to meet the needs of the marketplace through improved design, accessibility and cost efficiencies, and we are thrilled to work with NinjaTrader to empower its clients with additional choice.”
The SPIKES index is a measure of the expected 30-day volatility in the SPDR® S&P 500® ETF (SPY). SPIKES Futures are based on the SPIKES Volatility Index (Ticker: SPIKE), which trades in penny increments and updates every 100 milliseconds for pinpoint accuracy. In addition to its unique offering of commission-free brokerage on the products, NinjaTrader is offering SPIKES Futures without any market data fees.
About NinjaTrader Group, LLC
NinjaTrader Group firms provide award-winning trading software and brokerage services to active futures traders. Founded in 2003, NinjaTrader has evolved into an industry leader supporting over 900,000 traders around the globe with best-in-class technology, world-class support and discount commissions through its direct-to-consumer futures commission merchant (FCM). The firm offers a modern cloud-based futures trading platform now available via desktop, mobile and web applications, enabling customers to trade from any location. For more information, visit www.ninjatrader.com or on Twitter at @NinjaTrader.
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