The agreement was made public in April, and on May 4th, the bankruptcy judge accepted it.
LedgerX, an exchange and clearinghouse governed by the United States Commodity Futures Trading Commission, has been successfully bought by Miami International Holdings (MIH), the owner of the Miami International Securities Exchange (MIAX), which is controlled by MIH.
As part of its growth plan, MIH made this acquisition in order to increase the range of products it offers to the swaps and futures market. The financial industry’s biggest participant, MIAX, is the owner of a number of financial firms.
As part of MIH’s growth strategy, the acquisition of LedgerX represents a significant advancement that will enable them to provide the swaps and futures market with fresh and cutting-edge solutions. The acquisition will allow MIH to increase their capabilities and provide their clients with better services, according to Thomas Gallagher, CEO of the company.
MIAX’s Involvement in Open Exchange
In a tweet, Leslie Lamb, the CEO of Open Exchange (OPNX), asserted that MIAX is a shareholder in OPNX as well. Industry pioneers Kyle Davies and Su Zhu, along with CoinFlex, launched the cryptocurrency exchange Open Exchange. The company’s interest in the cryptocurrency industry and its potential for future partnerships are highlighted by MIAX’s involvement with OPNX, even though the degree of that involvement is not yet evident.
A purchase agreement for the transaction, subject to court clearance, was signed by MIAX and LedgerX in April. The conclusion of the transaction marks a crucial turning point in MIAX’s growth initiatives and fortifies its position in the regulated cryptocurrency industry.
LedgerX was approved for sale in January by the Delaware court, along with stock-trading platform Embed, FTX Japan and FTX Europe.