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Headquarters Waltham, Mass.
Products electronic trading

onExchange was a b2b commodity and financial derivatives trading and clearing provider that was the first internet based futures exchange and clearinghouse approved under the Commodity Futures Modernization Act of 2000. It received approval as a CFTC-regulated derivatives exchange on January 2, 2001. It offered futures trading through its onExchange Board of Trade subsidiary and clearing through its onExchange Clearing Corp. subsidiary.[1]

In addition to its trade-matching engine, onExchange featured pre-trade vetting and real-time risk management and allowed clients to plug in their own proprietary risk management systems.


onExchange was originally founded as Acknowledge Systems in 1998 by Richard Jaycobs, who was also the CEO from 1998-2004. Jaycobs discussed and refined the idea for the exchange with Philip McBride Johnson, a regulatory attorney and former chairman of the Commodity Futures Trading Commission.[2] Acknowledge Systems was renamed onExchange in 2000.

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