Today, the US Commodity Futures Trading Commission, or CFTC, has granted ErisX, a clearinghouse based in Chicago, the ability to expand its clearinghouse capabilities. ErisX will now be able to serve as a clearinghouse for all swaps and futures, as well.

A New Financial Frontier For ErisX

ErisX stands as being backed by TD Ameritrade, the US brokerage, has been granted two separate regulatory designations: One designated contract market (DCM) license, as well as a derivatives clearing license. ErisX was only capable of clearing virtual currency futures contracts, these contracts themselves being listed on the affiliate of Eris Clearing: Eris Exchange.

ErisX sees its contracts compete directly with Bakkt when it comes to physically delivered Bitcoin Futures. It should be noted, however, that ErisX stood as the first digital asset exchange that had offered both futures and spot markets within the same platform.

A History Of Expansion

Alongside this, the startup company, three years old by now, has already made its various products available by way of US brokers. These brokers, in turn, are licensed as futures commission merchants, or FCMs. Recently, ErisX has successfully onboarded TradeStation Crypto in order to expand the scope of its available, accessible liquidity to its customers. Alongside this, ErisX is making plans to onboard various trading firms, market makers, as well as traders with deep pockets, all in a bid to expand its clearinghouse capabilities to various other commodities.

Thomas Chippas stands as the CEO of ErisX, and gave a statement about the matter at large. He stated that the company’s clearinghouse platform is now capable of a number of important capabilities and distinctions that aren’t featured with all DCOs. He described ErisX’s clearinghouse platform as being composed of its DCO license and its proprietary TCS technology.

Heavy Players Backing ErisX

Alongside this, ErisX has opted to launch its own form of physically-settled Ether futures contracts, where investors will receive the physical cryptocurrency instead of a cash equivalent. This came just after ErisX had received the first BitLicense for the year from the New York State Department of Financial Services, or NYDFS.

ErisX stands as one of four regulated trading platforms within the US that competed to become the first platform to launch physically-delivered BTC futures. The firm had also concluded a funding round earlier last year and raised $27 million from it. This funding round was led by major financial institutions, such as ConsenSys, Bitmain, Nasdaq Ventures, and Fidelity Investments.