LedgerX, an institutional trading and clearing platform that has received approval from the U.S. Commodity Futures Trading Commission (CFTC) to trade and clear swaps and options on digital currencies is now open for business.
LedgerX is the first federally regulated exchange and clearing house to list and clear fully-collateralized, physically-settled bitcoin swaps and options for the institutional market.
LedgerX had a soft launch last week and have already swapped $1 million worth of bitcoin.
From a company blog post:
Wow, were we mistaken — we ended up completing swaps and options trades worth over $1,000,000 USD. Crucially, these trades were cleared through LedgerX, which is the only institutional grade, US federally regulated exchange and clearing house for digital currencies. And we are literally just getting started.
This is the first platform of its kind where you have a unified way to buy and sell BTC via swaps, and monetize the volatility with options. As a clearing house, we guarantee all the trades with the highest standard of oversight possible in partnership with the same US regulator that maintains the integrity of the foreign exchange, gold, and oil derivatives markets. There is no other platform in the world that can match the trade surveillance, regulatory oversight, and sophistication of financial instruments that we offer.
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