ErisX Obtains CFTC License to Provide Futures & Swaps Clearing Beyond Digital Assets


The Chicago-based crypto exchange, ErisX, gains regulatory approval from the U.S Commodities and Futures Trade Commission (CFTC) to start a clearinghouse for all types of futures and swaps. The crypto-focused exchange will expand its clearing services for fully collateralized swaps from digital assets to all traditional assets following the OK by the CFTC.

Back in July 2019, the firm gained the traditional designated contract market (DCM) license from the CFTC, allowing users to trade futures on the platform. The latest license granted to the firm is the traditional derivatives clearing license (DCO), which allows the firm to provide a clearinghouse for all fully collateralized swaps. Previously, ErisX provided these services to digital asset futures contracts listed on its virtual currency exchange – ErisX exchange.

ErisX, backed by TD Ameritrade, offers users both spot and physically settled futures contracts on Bitcoin (BTC) – recently announcing the launch of physically-settled Ethereum futures. The launch of these ETH-settled futures in the U.S is a first of its kind under the regulation of the CFTC.

Before the launch of ETH futures contracts, ErisX Clearing LLC received its approval of the lucrative BitLicense application offered by the New York Department of Financial Services (NYDFS). The exchange joins an exclusive list of crypto firms holding the license, including Binance, Coinbase, BitPay, Bitstamp, and Robinhood.

ErisX platform aims at integrating digital asset products and technology into a reliable, compliant, and robust capital markets workflow.

On the subject of the latest DCO license offered to ErisX, Laurian Cristea, General Counsel at ErisX, celebrated the move allowing listing and clearing of third-party contracts on their platform.

“Our trading platform is a high throughput, deterministic, low latency matching engine hosted in a world-class data center,” Cristea further said.

“Similarly, our clearing system is a reliable, web-based clearing engine designed to meet institutional requirements, and with real-time segregation balances, no other DCO can boast.”

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