The parent company of the Bermuda Stock Exchange has entered into a purchase agreement to acquire all of the issued and outstanding membership interests of LedgerX LLC from Ledger Holdings Inc.

Miami International Holdings Inc said the agreement was in connection with the bankruptcy proceedings involving FTX Trading Ltd and certain of its affiliated entities, pursuant to which LHI is a party.

LedgerX is a commodity futures trading commission regulated exchange and clearing house headquartered in Miami and is registered as a designated contract market, derivatives clearing organisation and swap execution facility with the Commodity Futures Trading Commission.

MIH said the consummation of the transactions contemplated under the purchase agreement was subject to the satisfaction of a number of conditions set forth in the agreement, including, among other things, the entry of a final sale order by the United States Bankruptcy Court for the District of Delaware, compliance with applicable regulatory obligations and the absence of any objections to the consummation of the transaction by the CFTC.