ErisX Gets US License to Offer Crypto Futures
- The exchange will offer spot and futures trading on the same platform.
US-based cryptocurrency Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term ErisX has received a derivatives clearing organization (DCO) license from the Commodity Futures Trading Commission (CFTC).
Granted under the Commodity Exchange Act (CEA), this will allow the exchange to offer digital asset futures contracts to its clients. The exchange already holds a designated contract market (DCM) license, and this new one will act as a supplement to that.
The official announcement from June 2, however, did not specify any timeline for the launch of the futures instruments, while mentioning that the crypto derivatives products will be launched “later this year.”
Commenting on the new licensing, Thomas Chippas, chief executive of the exchange, said: “ErisX is unique in that for our digital asset market, we have divided the trading and settlement functions using traditional DCM (exchange) and DCO (clearing) models. This reflects the structure that institutional investors expect from other asset classes and will help drive these markets toward greater relevance and accessibility.”
Unlike most of the derivatives markets, ErisX’s products will be physically settled, that means, traders will receive Bitcoins in delivery of the contract instead of an equivalent amount of fiat. Last month, LedgerX received a license from the same regulator to offer physically-delivered Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term derivatives.
“Under the DCO order, Eris will be authorized to provide clearing services for fully-collateralized virtual currency futures. Eris’ indirect parent company, Eris Exchange, LLC, is registered with the CFTC as a designated contract market,” the CFTC noted in a press release.
Spot and futures trading on the same platform
In April, the Chicago-based exchange launched a spot trading platform for digital assets, which offers fiat-crypto trading with Bitcoin, Bitcoin Cash, Ether, and Litecoin. Though its offerings are limited compared to its competitors, the exchange is now bringing futures trading on the same platform.
The company also attracted the attention of investors last year when it raised $27.5 million in its Series B funding round led by TD Ameritrade. According to CrunchBase, it received a total of $47.5 million in funding.
“Obtaining the DCO license is the second key enterprise goal we achieved this year, after launching our spot market. When futures on digital assets launch later this year we will offer the market a single unified platform for both spot and futures,” Laurian Cristea, General Counsel at ErisX, added.
US-based cryptocurrency Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term ErisX has received a derivatives clearing organization (DCO) license from the Commodity Futures Trading Commission (CFTC).
Granted under the Commodity Exchange Act (CEA), this will allow the exchange to offer digital asset futures contracts to its clients. The exchange already holds a designated contract market (DCM) license, and this new one will act as a supplement to that.
The official announcement from June 2, however, did not specify any timeline for the launch of the futures instruments, while mentioning that the crypto derivatives products will be launched “later this year.”
Commenting on the new licensing, Thomas Chippas, chief executive of the exchange, said: “ErisX is unique in that for our digital asset market, we have divided the trading and settlement functions using traditional DCM (exchange) and DCO (clearing) models. This reflects the structure that institutional investors expect from other asset classes and will help drive these markets toward greater relevance and accessibility.”
Unlike most of the derivatives markets, ErisX’s products will be physically settled, that means, traders will receive Bitcoins in delivery of the contract instead of an equivalent amount of fiat. Last month, LedgerX received a license from the same regulator to offer physically-delivered Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term derivatives.
“Under the DCO order, Eris will be authorized to provide clearing services for fully-collateralized virtual currency futures. Eris’ indirect parent company, Eris Exchange, LLC, is registered with the CFTC as a designated contract market,” the CFTC noted in a press release.
Spot and futures trading on the same platform
In April, the Chicago-based exchange launched a spot trading platform for digital assets, which offers fiat-crypto trading with Bitcoin, Bitcoin Cash, Ether, and Litecoin. Though its offerings are limited compared to its competitors, the exchange is now bringing futures trading on the same platform.
The company also attracted the attention of investors last year when it raised $27.5 million in its Series B funding round led by TD Ameritrade. According to CrunchBase, it received a total of $47.5 million in funding.
“Obtaining the DCO license is the second key enterprise goal we achieved this year, after launching our spot market. When futures on digital assets launch later this year we will offer the market a single unified platform for both spot and futures,” Laurian Cristea, General Counsel at ErisX, added.