Cryptocurrency derivatives provider LedgerX LLC has received a license from the Authorized Derivatives Market (DCM) from the US Stock Exchange Trading Commission (CFTC), which will allow it to launch the country's first bitcoin futures.
#Bitcoin derivatives trading! The CFTC has officially approved our DCM application! https://t.co/D8ZkhdQWc2
– LedgerX (@ledgerx) June 25, 2019
So, the calculations for deliverable futures are made in the underlying asset, and not in fiatnyh funds. Thus, LedgerX outstripped the Bakkt , ErisX and Seed CX platforms, which are still awaiting regulatory approval.
At the same time, LedgerX intends to launch the Omni platform for trading options, swaps, and bitcoin futures for retail investors, since at the moment it does not see enough interest from institutional market participants.
However, it should be added that some experts have already expressed fears that the nature of the license received will not allow LedgerX to provide margin tools to customers, and Bakkt should have such functionality.
Recall about the intentions to obtain the appropriate permission and overtake competitors LedgerX said in April.
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