- ErisX obtains DCO license that will allow the company to function as a clearing office.
- The exchange will launch deliverable futures later this year.
The Chicago-based cryptocurrency derivatives exchange ErisX obtained permission to establish a clearinghouse for derivatives based on digital assets. The license was issued by the Commodities Futures Trading Commission (CFTC). It means that the company may launch Bitcoin futures within the regulatory environment that protect participants and market integrity.
“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,” Thomas Chippas, Chief Executive Officer of ErisX, commented in the blog post.
The new instruments may go live as soon as this year; however, the precise dates are yet to be announced.
Meanwhile, currently, the exchange operates under the license of a license of an authorized Designated Contract Markets (DCM).
“By establishing a marketplace and developing infrastructure typically associated with traditional markets, ErisX has eliminated many of the obstacles institutional investors face in accessing digital assets. This is another step in the development and maturation of the markets,” Don Wilson, Chief Executive Officer of DRW commented.
Earlier DCM license was obtained by Provider of cryptocurrency derivatives LedgerX LLC.
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