Cryptocurrency market update: Wall Street’s TD Ameritrade explores Bitcoin, Ethereum, Bitcoin Cash and Litecoin trading

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  • ErisX will offer clients digital assets trading and related futures contracts.
  • . Cash trading is expected to kick off in the second quarter of 2019.

One of Wall Street’s largest online-based brokerage company TD Ameritrade announced its willingness to back the virtual currency market. TD Ameritrade has a number of subsidiary companies on Wall Street. The brokerage firm has invested ErisX; a new crypto market from Eris Exchange. Eris Exchange has backing from renown trading firms such as Virtu financial and DRW Holdings.

The new product, ErisX has been tailor-made to offer clients crypto exchange services including several other derivatives in relation to digital assets. ErisX will launch under the leadership of Thomas Chippas, a capable and experienced trader. A comment by Chippas says:

“In our opinion, there is no lack of interest in building out markets for people wishing to trade digital assets and there is plenty of space for people to come in with a regulated exchange and clearing house”

The cryptocurrency market platform will offer trading services for various digital assets including Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH) and Litecoin (LTC). Moreover, clients will have the ability to participate in futures contracts in cryptos. It is essential to note that the exchange is supporting physically delivered futures.

The firm is currently waiting for an approval from the U.S Commodity Futures Trading Commission (CFTC) that will give it the mandate to self-certify incoming contracts. Cash trading is expected to kick off in the second quarter of 2019 assuming that ErisX will be granted a green line by the authority.

 

 

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