ErisX Demonstrates Highest Level of Security Controls in Crypto Industry with SOC 2 Completion

CHICAGO & NEW YORK--(BUSINESS WIRE)--ErisX is pleased to announce it has completed an independent Service Organization Controls audit of our clearing services platform, Eris Clearing, and received a SOC 2 Type II report. This demonstrates ErisX’s continued commitment to security and operational effectiveness of system controls over time.

ErisX provides access to the crypto markets without sacrificing security, transparency or the benefit of market oversight. The ErisX crypto spot and U.S. regulated futures markets borrowed building blocks from the traditional capital markets to ensure proper security protocols are in place to best protect our members as well as further establish confidence in the crypto markets.

The SOC 2 Type II examination reviewed the ErisX onboarding processes, system changes and upgrades, auditing procedures as well as the internal standards by which ErisX staff hold themselves accountable.

“ErisX believes in the importance of transparency and having the highest levels of security in place when it comes to keeping our clients’ assets and information safe,” said Thomas Chippas, CEO of ErisX. “Completion of our SOC 2 Type II audit demonstrates our commitment to customer care and sound market structure as the only US-based spot and derivatives crypto market accessible to both individuals and institutions.”

ErisX is a regulated exchange and clearinghouse with Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO) licenses from the U.S. Commodity Futures Trading Commission. ErisX is obligated to keep Member funds safe and segregated. In addition to the SOC 2 Type II examination, we combine best practices in encryption, technology, operational processes and physical storage to keep Member funds safe and markets secure.

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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.