The U.S. Commodity Futures Trading Commission has designated Xchange Alpha LLC as a designated contract market, approving the firm to operate a federally regulated derivatives exchange under the Commodity Exchange Act.
The designation order was issued on January 30, 2026, and announced by the Commission on February 2, 2026, following a review of Xchange Alpha’s application materials.
Designation order and regulatory basis
The Commission said Xchange Alpha demonstrated its ability to comply with the Commodity Exchange Act and CFTC regulations applicable to designated contract markets. The approval is subject to ongoing compliance with statutory requirements and the representations made in the firm’s application.
Xchange Alpha is registered in Delaware and headquartered in Scottsdale, Arizona, according to the CFTC.
Exchange model and trading framework
According to the designation order, Xchange Alpha represented that it will operate an anonymous electronic central limit order book and conduct real-time as well as T+1 market surveillance to monitor trading activity and enforce exchange rules.
Contracts listed for trading will be cleared through a CFTC-registered derivatives clearing organization, the order states.
Application timeline
The designation order notes that Xchange Alpha’s application included submissions filed between July 10, 2025, and January 28, 2026, which were reviewed by the Commission prior to approval.
