TD Ameritrade-Backed Crypto Exchange ErisX Rolls Out Digital Currency Futures Trading Today

Just like rival Bakkt, ErisX futures will be physically delivered.

  • ErisX to start trading of futures digital currency products starting Dec. 17
  • Back in May, TD Ameritrade CEO said they are receiving lots of interest from both millennials and older retail investors

The Chicago-based cryptocurrency exchange is planning to start trading digital currency futures.

As per the notice released on Dec. 16, the TD Ameritrade-backed crypto exchange will start trading of futures digital currency products beginning Dec. 17, from Monday to Friday 8:00 AM CT (Central time) to 4:00 PM CT (Central time).

This announcement came with little fanfare as the New York-based company sent an alert to its traders and investors informing about the launch without much detail. Currently, apart from the trading hours and that the futures will be physically delivered there isn't any other information available.

Something different or just another CME

ErisX’s rival Bakkt has already launched physically and cash-settled bitcoin futures in September. They also launched options contracts on its platform this month.

However, as we reported, Bakk futures aren’t 100% backed by Bitcoin rather 37% of them are “backed by dollars or treasuries.”

Moreover, almost nobody takes physical delivery. Despite starting as first of its kind, Bakkt is no different than CME, now, it needs to be seen if the same would happen with ErisX.

“Off the charts”

Earlier this year, in an interview TD Ameritrade CEO Steven Quirk also stated that they have been receiving calls and emails from investors interested in trading crypto adding, “As soon as you open the door, you’re going to get a lot of people.”

The interest hasn’t only been from millennials but also from older retail investors remarking that they have been seeing “off the charts” attendance at bitcoin education events held by the company as well.

Both spot and futures trading on one platform

In July, the crypto exchange obtained a derivatives clearing organization (DCO) license from the US CFTC.

At that time, Laurian Cristae, general Counsel at ErisX said the exchange will offer a single platform for both spot and futures trading. ErisX CEO Thomas Chippas also shared that they divided trading and settlement functions on the platform using traditional DECM exchange and DCO clearing models. He said,

“This reflects the structure that institutional investors expect from other asset classes and will help drive these markets toward greater relevance and accessibility.”

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AnTy has been involved in the crypto space full-time for over two years now. Before her blockchain beginnings, she worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


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