TD Ameritrade Invests in ErisX Crypto Exchange for BTC, BCH, ETH, & LTC Futures
Institutional investors have been increasingly showing interest in the crypto world, we have another example of this trend. Retail brokerage TD Ameritrade Holding Corp said it has invested in a new cryptocurrency exchange called ErisX in a bid to offer clients digital asset investment options beyond bitcoin.
TD Ameritrade Holding Corporation provides securities brokerage and related technology-based financial services to retail investors, traders, and independent registered investment advisors (RIAs) in the United States. ErisX will allow clients to potentially trade other cryptocurrency futures, such as Ethereum (ETH) and Litecoin (LTC).
Steve Quirk, executive vice president of Trading & Education at TD Ameritrade stated:
“Our retail clients are seeking to access and trade digital currency products in the same way they do with traditional capital markets – through a legitimate, regulated and transparent exchange.”
“That’s precisely why we chose to invest in ErisX – to make digital currency products more accessible to retail clients.”
Additional backers of the new venture include Valor Equity Partners, NEX Opportunities and Cboe Global Markets Inc., ErisX said in a statement. Susquehanna International Group and ED&F Man Capital Markets Inc. also participated in the investment round, ErisX said.
Crypto so far has struggled to attract mainstream investors and button-down financial firms. Big, established exchanges have already tried to bring bitcoin to Wall Street with mixed results. Crypto markets are volatile, and some regulators worry they are vulnerable to manipulation.
However, things seem to be changing for the better.
Cboe Global Markets and CME Group launched their own bitcoin futures markets in December 2017. Cboe also has a futures product for ether ready but is waiting for regulatory clearance before it goes live with it. Bakkt, the cryptocurrency platform announced in August by Intercontinental Exchange, the parent company of the New York Stock Exchange, has similarly announced its intention to offer a trading platform for physically delivered futures for bitcoin. Elsewhere, Seed CX is aiming to launch a platform aimed at institutions for bitcoin and crypto derivatives trading.
This new venture might serve as a competition for Bakkt.
.@TDAmeritrade has made a strategic investment in ErisX, a regulated derivatives exchange and clearing organization that will include digital asset futures and spot contracts on one platform. https://t.co/hIrRWPXQmP
— TD Ameritrade News (@TDAmeritradePR) October 3, 2018
About ErisX Exchange
ErisX has entered into the digital asset space with a broad offering of both spot and futures contracts on one platform for Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH) and Litecoin (LTC). ErisX has integrated digital asset products and technology into reliable, compliant and robust capital markets workflows. With a regulated, liquid and accessible offering, ErisX enhances the digital asset space for institutional and individual traders alike.
About TD Ameritrade
TD Ameritrade is a brokerage firm based in Omaha, Nebraska with a major trading center in St Louis, Missouri. The letters TD are derived from Toronto-Dominion Bank, the largest shareholder. The company provides services for individuals and institutions that are investing online. The company offers an electronic trading platform for the purchase and sale of financial securities including common stocks, preferred stocks, futures contracts, exchange-traded funds, options, mutual funds, and fixed income investments. It also provides margin lending, and cash management services.