The U.S. Commodity Futures Trading Commission (CFTC) has cleared the way for crypto derivatives provider ErisX to offer contracts with a new license approval.
ErisX is backed by U.S. brokerage TD Ameritrade and announced that they have been granted approval from the CFTC a derivative clearing organization (DCO) license, acting as a secondary approval on top of an existing designated contract market (DCM) license that the company already has.
CEO at Erix, Thomas Chippas states that the company is unique in way since it divided the trading and settlements functions using traditional DCM (exchange) and DCO (clearing) models which reflects the structure that institutional investors expects from other asset classes.
ErisX’s approval comes a week after its competitor LedgerX received its own DCM license but like ErisX has not yet announced a firm timeline for the launch of its Bitcoin futures contracts.
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