LedgerX LLC, a “US-regulated trading platform for physically-settled digital currency derivatives,” can now offer physically settled bitcoin futures contracts. The application was approved by the Commodity Futures Trading Commission (CFTC).
LedgerX LLC is a subsidiary of Ledger Holdings, Inc. and is registered with the CFTC as a swaps execution facility and a derivatives clearing organization (DCO) since July 2017. As of June 24, the company is also registered as a designated contract market (DCM) in accordance with Section 5 of the Commodity Exchanges Act (CEA) and part 38 of the CFTC regulations.
The approval of this application, which was first filed in November 2018, means that the company can now list derivative contracts for bitcoins (including options and futures) and offer them to both retail and institutional clients. LedgerX CEO Paul CHOU announced that new products will be traded on a platform called LedgerX Omni:
“We can now provide a robust market for a much broader audience, providing access to individuals who want to get exposure to the fast-growing crypto investment sector via derivatives products that they could not access in the past."He also added that the implementation will be slow and will require patience so that the company can thoroughly test the technological systems and guarantee the quality of customer service.