Brokerage Giant TD Ameritrade provides  strategic financing to ErisX

Leading US brokerage firm TD Ameritrade Holding Corporation with assets of $ 1.2 billion announced that it had provided strategic financing to ErisX, a regulated derivatives market and a clearing organization, whose products include futures and spot contracts for digital assets. The corresponding press release was published on the TD Ameritrade website.

“Our retail customers would like to have access and trade products based on digital currencies just as they do in traditional capital markets through a full, regulated and transparent stock exchange,” said Steve Quirk, executive vice president of trading and training at TD Ameritrade .

“As a strategic investor in this initiative, we look forward to working with the ErisX team to develop and launch products based on digital currencies designed to meet the needs of retail investors,” added James Mackenzie, managing director of TD Ameritrade for foreign currencies, noting that ErisX plans to provide access to cryptocurrency spot contracts and futures on the same trading platform.

According to The Globe and Mail, ErisX plans to open spot trading in the first half of 2019, after which futures will be launched with the physical delivery of an asset (note – they will be calculated in cryptocurrency, not in Fiat), as soon as will give permission to the regulator. The publication also notes that TD Ameritrade customers already have access to CBOE futures on Bitcoin exchanges, but the ErisX offer will allow them to trade in other cryptocurrencies. According to the information on the ErisX website, initially the platform will support Bitcoin, Bitcoin Cash, Ethereum and Litecoin.