Sunday, 05 July 2020

LedgerX- FED approved for trading cryptocurrencies


LedgerX is an institutional trading and clearing platform

that has received approval from the U.S. Commodity Futures Trading Commission (CFTC) to trade and clear options on bitcoin. LedgerX is registered with the CFTC as a swap execution facility (SEF) and derivatives clearing organization (DCO).

LedgerX is the first federally regulated bitcoin options exchange and clearing house to list and clear fully-collateralized, physically-settled bitcoin options for the institutional market.

The LedgerX management team comprises Goldman Sachs, MIT and CFTC alumni, who bring financial expertise, technical talent and regulatory experience to the firm. Ananda Radhakrishnan, former Director of the CFTC’s Division of Clearing and Risk and Partner at Norton Rose Fulbright, and Carl Mahler, Partner at Gelber Group, currently sit on the LedgerX LLC Board of Directors. Mark Wetjen, Managing Director at Depository Trust & Clearing Corp (DTCC) and former Commissioner of the CFTC, and Robert Castrignano, Principal in the Equities Division at Sandler O’Neill + Partners, L.P., currently sit on the board of directors of Ledger Holdings Inc., the parent company of LedgerX.

On December 16, 2016, Ledger Holdings and Miami International Holdings, Inc. (MIH), the parent holding company of the MIAX Options Exchange, jointly announced that MIH had completed an investment in Ledger Holdings. Early investors in Ledger Holdings include Google Ventures and Lightspeed Venture Partners. 

U.S. Commodity Futures Trading Commission (CFTC) has given permission to LedgerX, a private company to exchange and clear any number of cryptocurrency derivatives.


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