New bitcoin SEF LedgerX clears $1M in first operating week

Paul Chou, CEO of LedgerX, the newly CFTC licensed digital currency/bitcoin swap execution facility (SEF) and designated contract maker (DCM), reported today that the platform cleared swaps and options trades worth over $1,000,000 USD in its first live week.

A good start for the company, which is the only institutional-grade, US federally regulated exchange and clearinghouse for cryptocurrency derivatives, a decision which was finalized back in July.

CEO of LedgerX, Paul Chou

Mr. Paul L. Chou, LedgerX CEO stated:

“Institutions who have gone through our rigorous on boarding process over the last few months have had the opportunity to trade this week in what we called internally, a “soft launch.” As a new exchange and clearinghouse with technology built entirely from scratch, we were hoping for a quiet first week with minimal volumes to test the pipes.”

“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. My personal preference was to start operating at a small scale, but in the end, I can’t tell our customers what to do. And what they are doing makes me confident LedgerX will be the dominant platform for institutional trading of digital currencies.”

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