ErisX, a CFTC-registered derivatives clearing organization (DCO), today announced the launch of its futures market, starting with a physically-delivered Bitcoin futures contract.
Digital asset futures products will be traded alongside ErisX’s digital asset spot market on a unified platform providing price transparency and collateral efficiencies. Investors will also be able to access the ErisX futures contracts starting next year via futures commission merchants (FCMs).
“We met aggressive goals this year as we closed funding, strengthened the team, secured state-level money transmitter licenses, and also developed modern infrastructure including a brand new matching engine and futures clearing system from scratch. After the Commodity Futures Trading Commission (CFTC) granted us a Derivatives Clearing Organization (DCO) license this summer, we have been focused on our offering and are thrilled to be ending the year with the launch of our futures market.”
– Thomas Chippas, CEO of ErisX
Physically Settled Futures
ErisX’s physically delivered bitcoin futures contracts are traded at and cleared through its CFTC regulated Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO).
| Description | A fully funded physically settled futures contract for Bitcoin |
|---|---|
| Contract Symbol | BTC |
| Contract Size | 0.1 Bitcoin |
| Price Quotation | USD per 1 Bitcoin |
| Minimum Price Increment | $ 1.00 per Bitcoin ($0.10 per contract) |
| Listed Contracts | ErisX will start with monthly and quarterly contracts |
| Settlement | Physical Delivery |
| Trading Hours | Regular Trading Hours as determined by the Exchange from time to time |
| Daily Closing Time | 16:00 (CT) |
| Last Trading Day/Time | Monthly – 10:00 (CT) Last Friday* of the contract month *Preceding business day if the day falls on a non-business day |
| Position Limit | 200,000 Contracts |
| Large Trader Reporting | 50 Contracts |
| Collateral Withheld | Buyer: No. of Contracts * Contract Size * Trade Price Seller: No. of Contracts * Contract Size |