Kraken, which claims to be one of the “longest-standing, most liquid and secure” crypto platforms serving “more than 15 million” clients globally, has entered into an agreement to acquire NinjaTrader, the U.S. retail futures trading platform, for $1.5 billion, subject to certain purchase price adjustments.
This acquisition reportedly strengthens Kraken’s position as “a 24/7, always-on technology platform built for professional traders,” making it a key player in U.S. futures for traditional and crypto markets.
It also accelerates Kraken’s multi-asset-class strategy and focus — which also include plans for equities trading as well as payments.
Founded in 2003, NinjaTrader provides “futures trading tools to nearly two million traders and operates as a CFTC-registered Futures Commission Merchant (FCM).”
This latest transaction reportedly marks the “largest-ever deal” combining traditional finance (TradFi) and crypto.
Arjun Sethi, Kraken’s co-CEO said:
“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.”
Marty Franchi, CEO of NinjaTrader said:
“NinjaTrader’s mission has been to redefine retail futures trading, making it more accessible, cost-effective and trader-friendly. Joining forces with Kraken allows us to take this vision to a global scale, expanding our reach and unlocking innovative new use cases. Together, Kraken and NinjaTrader will power the integration of traditional markets with crypto by offering cutting edge tools and the ability to rapidly move across asset classes that the most sophisticated traders demand.”
NinjaTrader is a said to be trusted hub “for professional futures traders.”
With this acquisition, benefits include:
- U.S. Futures – NinjaTrader’s CFTC-registered FCM license allows Kraken to offer crypto futures and derivatives in the U.S.
- Unlocks Global Regulatory Licensing and Growth – Kraken’s U.K. MiFID, EU MiFID, and Australian securities licenses accelerate NinjaTrader’s expansion into the U.K., Europe, and Australia.
Seamless Multi-Asset Trading – For both Kraken and NinjaTrader clients, ability to trade crypto, futures, and traditional financial products. - Access to Trading Tools – Clients will benefit from NinjaTrader’s pro-grade analytics, execution engines and futures liquidity, combined with Kraken’s best-in-class crypto liquidity and trading experience.
Kraken claims that it has a track record of integrations.
These reportedly include the following: Cryptowatch (real-time analytics), Crypto Facilities (regulated derivatives), CF Benchmarks (index provider), and Staked (staking infrastructure).
NinjaTrader will continue to operate as “a standalone platform under the Kraken suite of trading and payments applications, with its clients gaining access to an expanded array of trading opportunities in the future.”
NinjaTrader is majority backed by Long Ridge Equity Partners.
The transaction is subject “to customary closing conditions and is expected to close in the first half of 2025.”
PJT Partners served as financial advisor to Kraken, and Jones Day and Lowenstein Sandler served as legal advisors.
Jefferies LLC acted as financial advisor to NinjaTrader and Choate, Hall & Stewart LLP and Katten Muchin Rosenman LLP served as legal advisors.
