The Commodity Futures Trading Commission (CFTC), today announced that it has issued an Order of Designation to Bitnomial Exchange, LLC located in Chicago, Ill., granting it status as a designated contract market (DCM), effective today. Bitnomial Exchange is a limited liability company formed under Delaware state law.
The CFTC issued the order under Section 5 of the Commodity Exchange Act (CEA) and CFTC regulation 38.3(a). After review of its application and associated exhibits, the CFTC determined that Bitnomial Exchange demonstrated its ability to comply with the requirements of the CEA and the CFTC’s regulations applicable to DCMs.
The order requires, among other terms and conditions, that Bitnomial Exchange comply with all provisions of the CEA and all requirements in the CFTC’s regulations, as may be amended or adopted, that are applicable to DCMs. Bitnomial Exchange also must comply with all representations and submissions made by it in support of its application for designation as a contract market.