CFTC Approves Intelligent Medicine Exchange (IMX) as New Futures Exchange

First Exchange Focused on Risk in the Health Care Economy

Intelligent Medicine Exchange (IMX)™ has been designated by the Commodity Futures Trading Commission as a contract market – a new futures and options exchange that allows market participants to hedge and invest in the health care economy.

IMX will enable market participants to manage risk across the health care ecosystem in transparent, two-sided markets that represent many facets of the health care sector. Trading operations are expected to commence in the first half of 2024.

“With IMX, the entire health care industry will finally have access to the capital markets tools available to other major sectors of the economy,” said James Plante, IMX co-founder & CEO. “IMX will provide opportunities for market participants through competition for services and cushioning price shocks in the marketplace, potentially leading to lower prices and premiums.”

IMX has partnered with Minneapolis Grain Exchange (“MGEX”) for clearing services. Mark Bagan, MGEX CEO, said, “We are thrilled to partner with IMX on this exciting new exchange by providing clearing services.”

Phupinder Gill, former CEO of CME Group and a strategic advisor to IMX, said, "With IMX, we will finally have the much-needed products to help manage costs in multiple health care industries.”

Health care represents nearly 20% of U.S. GDP, but until IMX, there was no dedicated derivatives market specifically focused on managing health care risk.

IMX’s senior leadership and strategic advisors have deep experience in health care, finance, and futures trading. In addition to Plante and Gill, other strategic advisors include Eileen Flaherty, former Director of the Division of Swap Dealer and Intermediary Oversight at the CFTC, former General Counsel of broker-dealers, FCMs and proprietary trading firms; and former Associate General Counsel of CME Group, and Kim Taylor former President, Clearing and Post-Trade Services at CME Group.

About IMX:

IMX Health, LLC, also known as Intelligent Medicine Exchange (IMX), is a subsidiary of holding company IMX, LLC. The company is based in Chicago. For more information, visit www.imxhealth.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240122222961/en/