The United States Commodity Futures Trading Commission has approved the application of LedgerX LLC for designation as a contract market, according to an announcement published on June 25.
LedgerX - a U.S.-based regulated crypto derivatives and clearing platform - can operate as a designated contract market as of June 24, 2019.
The company's activities will be registered under Section 5 of the Commodity Exchange Act and Part 38 of the CFTC's regulations.
Registration as a DCM will require that LedgerX maintain compliance with all applicable provisions of the CEA and CFTC regulations.
"LedgerX has requested that the CFTC amend its order of registration as a DCO, which limits LedgerX to clearing swaps, to allow it to clear futures listed on its DCM," the announcement further reads.
LedgerX initially applied for a designated contract market license that would allow it to launch the new futures product in April.
"We've long had the goal to expand the range of customers we can serve beyond our institutional base - it's the natural next step for us. Omni, by interfacing with our existing institutional liquidity pool, will offer retail customers a top tier experience from day one."
Earlier in June, institutional cryptocurrency platform Bakkt announced that it will begin testing its first product, physically-delivered bitcoin futures on July 22.
"This launch will usher in a new standard for accessing crypto markets. Compared to other markets, institutional participation in crypto remains constrained due to limitations like market infrastructure and regulatory certainty," the company's chief operating officer Adam White said.
US CFTC Approves LedgerX's Application for Designation As Contract Market
Publicado en Jun 25, 2019
by Cointele | Publicado en Coinage
Coinage
Noticias recientes
Ver todo
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.