Milbank LLP advised Susquehanna International Group in connection with its new joint venture with Robinhood Markets, Inc. (Robinhood) (NASDAQ: HOOD), which has agreed to acquire MIAX Derivatives Exchange (MIAXdx), a wholly owned subsidiary of Miami International Holdings, Inc. (NYSE: MIAX).
MIAXdx is a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO) with regulatory approval from the Commodity Futures Trading Commission (CFTC) to list and clear fully collateralized futures, options on futures and swaps. The new joint venture will accelerate the delivery of its services with its agreed acquisition of MIAXdx. MIAX will remain invested through a minority equity stake in MIAXdx.
The Milbank team was led by Global Corporate/M&A partner Scott Golenbock, Litigation & Arbitration partner Joshua Sterling and special counsel Amanda Olear with Global Corporate/M&A associates Richard Rowe and Kristine Kazangyan and law clerk Claire Jones, Tax partner Edward Lemanowicz and associate Michael Rivkin, Executive Compensation and Employee Benefits special counsel Jameson Frazier and Alternative Investments and Derivatives law clerk Jasmynn Cobb.
