ErisX today announced the launch of their futures market, starting with a physically-delivered Bitcoin futures contract. Digital asset futures products are traded alongside the Exchange’s digital asset spot market on a unified platform providing price transparency and collateral efficiencies. Investors will also be able to access the ErisX futures contracts starting next year via futures commission merchants (FCMs).
“We met aggressive goals this year as we closed funding, strengthened the team, secured state-level money transmitter licenses, and also developed modern infrastructure including a brand new matching engine and futures clearing system from scratch,” said Thomas Chippas, CEO of ErisX. “After the Commodity Futures Trading Commission (CFTC) granted us a Derivatives Clearing Organization (DCO) license this summer, we have been focused on our offering and are thrilled to be ending the year with the launch of our futures market.”
As a CFTC-regulated exchange, ErisX’s regulatory framework, transparent marketplace as well as clear and consistently applied rules for market participation make a superior venue for execution and clearing needs. With support from a wide array of investors and partners, ErisX has made digital assets available through traditional financial services infrastructure.
“ErisX has taken many steps to build out their intermediary-friendly model for digital assets including the consideration of how many FCMs manage back-office processes through FIS,” said Bob Fitzsimmons, Executive Vice President, Wedbush Securities. “We look forward to playing a role in ErisX’s marketplace and enhancing the digital asset trading and investing experience.”
“The launch of ErisX’s fully regulated futures market is a significant development for the digital asset industry,” said Chris Larkin, Senior Vice President, E*Trade. “The more accessible contract size and transparent order book provides first time market participants exposure to digital assets through a familiar mechanism.”
With in-depth experience delivering and operating a fully regulated marketplace, ErisX provides access to the digital asset space with a broad offering of both spot and futures contracts on one platform. ErisX is integrating digital asset products and technology into reliable, compliant and robust capital markets workflows. With a regulated, liquid and accessible offering, ErisX will enhance the digital asset space for institutional and individual traders alike.
ErisX Futures are offered through Eris Exchange, LLC, a Commodity Futures Trading Commission (CFTC) registered Designated Contract Market (DCM) and Eris Clearing, LLC, a registered Derivatives Clearing Organization (DCO). The CFTC does not have regulatory oversight authority over virtual currency products including spot market trading of virtual currencies. ErisX Spot Market is not licensed, approved or registered with the CFTC and transactions on the ErisX Spot Market are not subject to CFTC rules, regulations or regulatory oversight. ErisX Spot Market may be subject to certain state licensing requirements. ErisX, Eris Exchange, and the ErisX and Eris Exchange logos are trademarks of the Eris Exchange group of companies.