Cryptocurrency and ICO news 04.10.2018
Ameritrade invests in new crypto exchange with futures
Brokerage firm TD Ameritrade is investing in a brand new cryptocurrency exchange.
Dubbed ErisX, the exchange will allow investors to trade bitcoin, bitcoin cash, ethereum, litecoin and bitcoin, as well as bitcoin futures, a spokesperson told the news source.
The exchange, built by derivatives market provider Eris Exchange, is also backed by DRW Holdings and Virtu Financial.
Adding more detail, the report indicates that the futures contracts traded by the exchange in particular will be physically delivered, not cash-settled.
Moreover, while at present TD Ameritrade customers can trade bitcoin futures contracts through the Cboe market, managing director J.B. Mackenzie told Reuters that ErisX may also allow customers to trade ethereum and litecoin futures eventually.
ErisX is currently in the process of self-certifying its futures contracts with the U.S. Commodity Futures Trading Commission (CFTC), and will clear its derivatives products through its parent firm’s clearinghouse if and when it is approved.