ErisX, operator of a regulated Designated Contract Market (DCM) in the US, today announced the closing of the third round of Series B investors. The new group of market participants supporting ErisX includes: Arc Light Securities, Castle Island Ventures, Dragonfly Capital Partners, Flow Traders, Tradestation and New York Digital Investment Group (NYDIG), whose COO and CFO Rob Flatley has been named to the ErisX Board of Directors.
With backing from a wide range of new and existing investors in the traditional capital markets and digital asset space, ErisX has now publicly launched its spot market and invites market participants to trade on the platform. It offers BTC, BCH, ETH, and LTC spot markets, 8 am – 4 pm CT Monday through Friday. There is a minimum balance of $10,000.
ErisX also received additional support from existing investors including: Cboe Global Markets, CMT Digital, Consensys, CTC, DRW Venture Capital, ED&F Man Capital Markets Inc., Nasdaq Ventures, Pantera Capital, Susquehanna International Group, and Virtu Financial.
“We took a disciplined and methodical approach to the launch of the ErisX spot market. As experienced market professionals we know that a launch such as this is a process, not a one-off event,” said Thomas Chippas, CEO of ErisX. “We are moving from an initial phase to a public launch, and will continue to work with our partners, investors, and regulators to expand access.”
The launch of ErisX’s spot market is the first part of a promising vision for a unified digital asset spot and regulated futures exchange. Building foundational exchange and clearing infrastructure to address offerings for cash transactions, ErisX will launch a regulated futures exchange and clearinghouse later this year, pending approval from the Commodity Futures Trading Commission, to provide hedging and risk management tools for digital assets. These complementary offerings will enable trading of both spot and futures on a single infrastructure, an industry-first in the digital asset space, which creates collateral efficiency in ErisX’s fully funded model.
“We are the primary digital asset conduit for delivering institutional grade asset management, custody, and execution solutions,” said Rob Flatley, COO, and CFO of NYDIG. “ErisX is vital to the evolution of market structure and is completely aligned with our notion of best execution for both retail and institutional investors. We are excited to partner with them to bring proven trading and custody practices into this space.”
“TradeStation is actively working to help bridge the gap between traditional markets and crypto markets. Our investment in ErisX supports further advances in the crypto market structure and will help bring more established players into the space,” said John Bartleman, President of TradeStation Group. “Supporting firms like ErisX, that understand regulation and markets, benefits the crypto ecosystem.”
Instrument Specifications
| Bitcoin | Bitcoin Cash | Ethereum | Litecoin | |
| Base Currency | BTC | BCH | ETH | LTC |
| Symbol | BTC/USD | BCH/USD | ETH/USD | LTC/USD |
| Quote Currency | USD | |||
| Quote Convention | 1 Coin | |||
| Minimum Order Size | 0.10 | 1.00 | 1.00 | 1.00 |
| Minimum Trade Increment | 0.01 | 0.1 | 0.1 | 0.1 |
| Price Increment | $ 1.00 | $ 0.10 | $ 0.10 | $ 0.05 |
| Bitcoin Cash | Ethereum | Litecoin | |
| Base Currency | BCH | ETH | LTC |
| Symbol | BCH/BTC | ETH/BTC | LTC/BTC |
| Quote Currency | BTC | ||
| Quote Convention | Amount of BTC | ||
| Minimum Order Size | 1 | 1 | 1 |
| Minimum Trade Increment | 0.1 | 0.1 | 0.1 |
| Price Increment | 0.00001 | 0.00001 | 0.00001 |
