Broker giant TD Ameritrade supports, ErisX will open bitcoin futures trading at 10pm tonight

ErisX, a cryptocurrency derivatives trading platform supported by brokerage giant TD Ameritrade, plans to launch bitcoin futures trading today (10 PM, December 17, Beijing time). The New York-based company issued an announcement to investors and traders informing them about the futures offering. The details of the futures products provided so far are unclear, only knowing that they will be delivered in kind.

crypto

ErisX plans to open up a market for compliant crypto products in an industry hailed as the "Wild West" (that is, where standardized management has not yet been implemented). In an earlier interview, Steven Quirk, CEO of TD Ameritrade, stated that the number of people participating in their popular bitcoin science event was "breaking records" and they also received a lot of calls from investors interested in trading cryptocurrencies. Phone and mail.

To this end, the company claims that its plan will bring the cryptocurrency market to the same level as the stock market, filling a "structural gap" in the cryptocurrency market. The company's futures solutions are targeted at large institutional trading brokers and were licensed by the Derivatives Clearing Corporation (DCO) in July of this year.

At the same time, the company has also established a "low friction" system that allows traders to use cryptocurrencies. ErisX Chief Strategy Officer Matt Trudeau said this meant making it easier and more familiar for existing traders to interact with cryptocurrencies.

For example, the integration of ErisX and GMI, the latter is a back-office solution for futures brokers (FCM) derivatives clearing and accounting systems. According to Crunchbase, ErisX has raised a total of $ 47.5 million from a number of well-known investors, including TD Ameritrade, CME Ventures, and Digital Currency Group.

Rival Bakkt promises to provide investors with a similar end-to-end compliance experience. The company launched related products in September and currently offers physical and cash-settled monthly Bitcoin futures contracts and options contracts on its platform. Given the wealth of industry expertise in the senior management of these two institutions, they may send a new, compliant identity signal to cryptocurrencies.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Blockchain

SBF trial imminent, let's see what legal experts have to say

Source Coindesk Translator LianGuaiBitpushNews Mary Liu FTX founder and former CEO Sam Bankman-Fried (SBF) will be in...

Blockchain

The three countries of China, Japan and South Korea exchanged cold on the same day? The reason behind it is not simple

Abstract: The three countries of East Asia were once considered to be the gold rush of cryptocurrency, but now the ba...

Blockchain

IEO’s embarrassment, the era of “receiving wages” may be gone forever.

"Oh… the market is in a downturn. Recently, the standard of living has plummeted." The soldiers sighe...

Blockchain

Yesterday, 340,000 ETH on the Upbit exchange was stolen, but this server was attacked ...

Author: Chengdu chain security According to industry media reports, around 1 pm on November 27, the security system o...

Opinion

Overview of International Cryptocurrency Regulatory Agencies

We have studied 45 countries, including G20 member countries, as well as countries with the highest adoption rate of ...

Blockchain

BiClub realizes full automation of OTC platform and helps build a large-scale digital asset financial service system

In the early hours of Beijing time yesterday, BiClub ( www.biclub.io , WeChat biclubcom) team has completed a key ste...