High-Profile Trading Firms Embrace New Cryptocurrency Exchange

  • Alex Dovbnya
    📰 News

    TD Ameritrade along with trading behemoth Virtu Financial are both betting on the ErisX exchange. The exchange is going to trade digital assets and derivatives


High-Profile Trading Firms Embrace New Cryptocurrency Exchange

TD Ameritrade, Nebraska-based brokerage firm, along with trading behemoth Virtu Financial are both betting on the ErisX cryptocurrency exchange, Wall Street Journal reports. The exchange is going to trade digital assets and crypto-related derivatives. TD Ameritrade’s J.B. Mackenzie claims that the move was meant to make it easier to deal with crypto in regulated space.

CME and CBOE futures, which were launched last year, allowed Bitcoin to hit its all-time high last December, but this success turned out to be rather short-lived as the flagship currency has lost the lion's share of its price in 2018. However, ErisX wants to tackle the volatility issue by requiring traders to be fully funded.

trueEX, a CFTC-regulated exchange that facilitates trading for interest rate swaps, has recently stated that the abovementioned exchange was filling its Bitcoin-swap plan with CFTC earlier this week.

Cover image via u.today
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About the author

Alex Dovbnya (aka AlexMorris) covers all things crypto — from major projects, which are fighting tooth and nail to gain the upper hand in the burgeoning industry, to the latest regulatory trends around the world. When he happens to take a break from crypto, Alex delves into cognitive linguistics (metaphors can be fun too!).

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