CHICAGO & NEW YORK--(BUSINESS WIRE)--ErisX is pleased to announce that as of November 2, 2020 we have received approval for an amendment to Eris Clearing’s Derivative Clearing Organization (DCO) license from the Commodity Futures Trading Commission (CFTC) that expands our clearinghouse capabilities to clear all futures and swaps. Previously, our DCO license only permitted clearing futures on cryptocurrencies.
“Our clearinghouse platform, composed of our TCS™ technology and DCO license, now possesses several important distinctions and capabilities not featured with all DCOs,” said Thomas Chippas, CEO of ErisX. “We can clear fully-collateralized futures and swaps related to cryptocurrencies as well as contracts on all other commodities. We look forward to further welcoming FCMs, Institutions, Market Makers, Professional Trading Firms and Individuals to benefit from the expanding services of our clearinghouse.”
Eris Exchange is currently the sole DCM for which Eris Clearing provides clearing services. However, ErisX’s integrated exchange and clearing technology platform, licenses and operations enable us to offer services to 3rd parties that have innovative commercial ideas that require regulated market infrastructure. By working with ErisX businesses can reduce their time to market and up front costs, and trust that they are working with a professional team and world-class infrastructure.
“We are pleased to be able to offer clearing services to other DCMs and, alternatively, to list third party contracts on Eris Exchange with the ability to clear those contracts at Eris Clearing,” said Laurian Cristea, General Counsel at ErisX. “Our trading platform is a high throughput, deterministic, low latency matching engine hosted in a world class data center. 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.”
ErisX is the only U.S. based exchange to offer spot and regulated futures on cryptocurrencies on one platform. We provide access to crypto price transparency and liquidity without sacrificing security, performance or accountability. The ErisX team is composed of forward-thinking industry professionals with deep industry knowledge and experience. If you are interested in learning more, please contact info@erisx.com.
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Licenses and Registrations
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 and operates in NY pursuant to Eris Clearing’s license to engage in virtual currency business activity by the New York State Department of Financial Services.
