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CFTC Grants LedgerX Registration As Derivatives Clearing Organization



De Silva

The US Commodity Futures Trading Commission has granted LedgerX registration as a derivatives clearing organization. The agency already recognizes LedgerX as a swap execution facility. Options trading for cryptocurrency should begin in early fall of 2017.

On July 24, 2017, the US Commodity Futures Trading Commission (CFTC) announced that it unanimously voted to grant LedgerX registration as a derivatives clearing organization. Per the official CFTC release, “Under the order, LedgerX will be authorized to provide clearing services for fully-collateralized digital currency swaps.” Earlier this month, ETHNews reported on LedgerX’s registration as a swap execution facility.

In a statement to ETHNews, a LedgerX spokesperson explained that the company expects to commence options trading in early fall of 2017. The LedgerX team will specify contracts with the CFTC as the launch date approaches. At first, LedgerX will only list one- to six-month options contracts on bitcoin, but Ether is “expected to follow.”

The CFTC’s Division of Clearing and Risk has exempted LedgerX from certain commission regulations because of the company’s fully-collateralized clearing model.

“This is an institutional platform, not accessible to retail,” said LedgerX’s spokesperson. “This is a place for professional trading firms, asset managers, and miners looking to hedge.”

Matthew De Silva

Matthew has a passion for law and technology. He graduated from Georgetown University, where he studied international economics and music. Matthew enjoys biking and listening to tech podcasts. He lives in Los Angeles.

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