CBOE acquires Erisx to enter the spot and derivative markets for cryptocurrencies- stock exchanges
CBOE acquires Erisx to enter the spot and derivative markets for cryptocurrencies- stock exchanges
CBOE takes over Erisx to get into the crypto spot and derivative market. "With ERISX, CBOE is able to climb into the digital asset, data, derivative and clearing ecosystem in a single step. Now the right time is to fully accept and define this aspiring investment class," said Chief Operating Officer from CBOE.
CBOE enters crypto-spot and derivative markets
CBOE GLOBAL Markets Inc. (CBOE: CBOE) announced on Wednesday that it was ready to take over Eris Digital Holdings LLC (Erisx).
The appointment exchange and the erisx clearing house are regulated by the Commodity Futures Trading Commission (CFTC). In addition, its clearing position is registered with the Financial Crimes Enforcement Network (fincen) and licensed in many US states and territories.
In the announcement, it is pointed out that “Erisx runs a US-based spot market for digital assets, a regulated appointment exchange and a regulated clearing house”:
The ownership of Erisx gives CBOE access to the spot and derivative markets for digital assets, including clearing and processing.
"With Erisx, CBOE is able to get into the digital asset spot, data, derivatives and clearing ecosystem," said Chris Isaacson, Chief Operating Officer from CBOE. "Now is the right time to completely hug and define this aspiring investment class."
The ERISX product suite includes several cryptocurrencies, stable coins, physically supplied bitcoin and ether futures as well as futures with cash compensation. The takeover is to be completed in the first half of 2022, subject to official permits.
CBOE already offered Bitcoin futures in 2017, but withdrawn the product in March 2019. The company is now planning to operate a digital asset business as a CBOE digital with the help of the digital advisory committee, which is to be formed to form CBOE in the further development of the Eris. Spot and derivative markets. The committee members include DRW, Fidelity Digital Assets, Galaxy Digital, Interactive Brokers, Nydig, Paxos, Robinhood, Virtu Financial and Webull.
Tom Jessop, President of Fidelity Digital Assets, said: "The CBOE-Erisx combination is an attractive opportunity to work with a global stock market operator that can bring better regulatory knowledge, reliable technologies and product expertise into the markets for digital assets. We look forward to working with CBOE Digital."
Matthew McDermott, Global Head of Digital Assets at Goldman Sachs, expressed his support and said:
This is an exciting development for the institutional introduction of cryptocurrencies, and we look forward to finding paths to work closely with the newly founded group CBOE Digital.
What do you think that CBOE Erisx takes over to get into the crypto spot and derivative markets? Let us know in the comment area below.
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