High-Profile Trading Firms Embrace New Cryptocurrency Exchange

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

Wed, 3/10/2018 - 18:18

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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.

About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.