LedgerX gets bitcoin futures license from CFTC

Posted 26 June, 2019

The US Commodities Futures Trade Commission has reportedly greenlighted settle bitcoin futures for LedgerX. 

The regulator stated in the announcement that the company will get the license of a contract market following the application filed back in November 2018. Along with LedgerX, some other market players (Bakkt, ErisX, Seed CX) also target similar services but lack all required permissions. 

Despite the approval, the company will have to keep taking measures to maintain its regulatory compliance.

"With registration as a DCM, LedgerX will be required to demonstrate continued compliance with all applicable provisions of the CEA and CFTC regulations, including Part 38," the announcement reads.

Notably, CME also offers bitcoin futures, though the difference is that its contracts are settled in fiats, while LedgerX will enable clients to get payments in the asset being behind the contract.

As the company representative commented, new contracts will be offered not only to institutional clients but also to retail investors. 

LedgerX is yet to unveil the launch date. It is quite possible that the US market will be the first to enjoy the new product.

The future contracts will feature self-certification processes like the company's swaps and options.

Notably, LedgerX has already managed to get three futures market licenses in total. Specifically, it has licenses for swap exchange and derivative clearing centre. 


 

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