Yesterday, July 6, 2017, the CFTC issued an Order of Registration for LedgerX, an institutional derivatives exchange platform for cryptocurrencies. The Delaware-based LedgerX was granted status as a Swap Execution Facility (SEF), a title that was authorized through the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. LedgerX is the second company to receive SEF status, following TeraExchange in 2016.
Under section 5b of the Commodity Exchange Act, the company must possess a clearing agreement with a derivatives clearing organization. LedgerX also must submit “revisions of its rulebook and other pertinent registration materials” to the CFTC before it may list “an intended to be cleared swap.”
LedgerX could not be reached for comment at the time of publication.