Kraken, a cryptocurrency trading platform has agreed to acquire NinjaTrader, a US-based retail futures trading platform, for US$1.5 billion, subject to certain purchase price adjustments.
The acquisition is expected to enhance Kraken’s presence in the US futures market and support its expansion into multiple asset classes, including equities and payments.
Founded in 2003, NinjaTrader provides trading tools to nearly two million futures traders and operates as a CFTC-registered Futures Commission Merchant (FCM).
Kraken co-CEO, Arjun Sethi, stated,
“Traditional markets run on banking systems from the 1950s and post-WWII, exchanges that close at 4 p.m. ET, and settlement delays that take days to resolve. Crypto rails fixed these issues, operating with efficient and real-time infrastructure. But legacy finance and crypto have remained separate ecosystems, until today. This transaction is the first step in our vision of an institutional-grade trading platform where any asset can be traded, anytime.”
The acquisition provides strategic benefits for both companies.
NinjaTrader’s FCM license will allow Kraken to offer crypto futures and derivatives in the US Kraken’s existing regulatory licenses in the UK, EU, and Australia will support NinjaTrader’s international expansion.
Clients of both platforms will have access to futures, cryptocurrencies, and traditional financial products, along with advanced trading tools and analytics.
Kraken has previously integrated companies such as Cryptowatch (real-time analytics), Crypto Facilities (regulated derivatives), CF Benchmarks (index provider), and Staked (staking infrastructure).
Following the acquisition, NinjaTrader will continue operating as a standalone platform under Kraken’s trading and payments suite.
The deal, backed by NinjaTrader’s majority investor Long Ridge Equity Partners, is expected to close in the first half of 2025, subject to regulatory approvals.
PJT Partners advised Kraken financially, with Jones Day and Lowenstein Sandler providing legal counsel.
Jefferies LLC advised NinjaTrader, with legal support from Choate, Hall & Stewart LLP and Katten Muchin Rosenman LLP.
Featured image credit: edited from freepik
