US Broker TD Ameritrade Is Funding New Crypto Exchange ErisX October 3, 2018 October 3, 2018 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
NewsOctober 3, 2018 by Kelly Cromley

US Broker TD Ameritrade Is Funding New Crypto Exchange ErisX

Retail brokerage firm TD Ameritrade has stated that it is funding new crypto exchange ErisX, according to a media release issued by the company. TD Ameritrade, which currently offers investment services to nearly 11 million customers, did not disclose the terms of the deal.

A Bloomberg report, however, states that the investing firm DRW Holdings and ultra-high frequency trading firm Virtu Financial are also pouring their investments.

Both DRW and Virtu, according to the report, agreed to act as market makers for ErisX, which might assist in maintaining a deep order book. ErisX, which previously operated in the traditional futures market as Eris Exchange after being established way back in 2010, is expected to reveal its business plan later today, according to a report by the Wall Street Journal (WSJ).

The exchange is anticipated to list cryptocurrencies along with futures contracts in the beginning of 2019. Bloomberg has reported that the exchange is planning to allow investors to trade in Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), and Litecoin (LTC).

J.B. Mackenzie, the head of futures and foreign exchange trading at TD Ameritrade, informed Wall Street Journal that the brokerage firm is interest in converting cryptos into “something they [investors] feel comfortable with in regulated space.”

Steve Quirk, executive vice president of trading and education, stated that its clients had evinced interest in crypto trading. He said

“Our retail clients are seeking to access and trade digital currency products in the same way they do with traditional capital markets — through a legitimate, regulated and transparent exchange.”

It can be remembered that the Chicago Board Options Exchange (CBOE) started offering BTC futures trading back in December. Notably, the website went down temporarily at that time due to the interest shown by traders.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.