CFTC Grants LedgerX Derivatives Clearing Organization Registration

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 is a writer with a passion for emerging technology. Prior to joining ETHNews, he interned for the U.S. Securities and Exchange Commission as well as the OECD. He graduated cum laude from Georgetown University where he studied international economics. In his spare time, Matthew loves playing basketball and listening to podcasts. He currently lives in Los Angeles.
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