ErisX Unveils 1st Physically-Settled Ether Futures Contracts Within United States

ErisX Unveils 1st Physically-Settled Ether Futures Contracts Within United States

ErisX, a derivatives clearing firm headquartered in Chicago, today announced the introduction of physically settled Ether contracts to its current futures products.

ErisX previously provided settled Bitcoin (BTC) contracts in physical form. Although BTC retains the dominant cryptocurrency position, second-placed ETH has trailed behind. While it’s no coincidence that ErisX wants to introduce an Ether product as its next initiative, this has not been achieved by any other Cryptocurrency Derivatives Exchange, leaving ErisX the first in the United States.

ErisX tends to give investors clarity, convenience, and wider inclusion. In its announcement regarding ErisX Insight, its official site for news releases, it says:

“ErisX operates on an equitable basis in the crypto ethic of openness for everyone. In our time-tested and verified Central Limit Order Book (CLOB), our Ethereum futures contract trades. This means that everybody has access to the best deal on the market. CLOBs allow all members to interact among themselves without needing new special agreements with each counterparty, and our monitoring system works to prevent fraudulent behavior.

ErisX Making Products and Services Accessible
Ether trades are conducted through the central limit order book of the crypto exchange operator, which ensures that all received orders are cleared at the ErisX clearinghouse to reduce counterparty risk.

The decision comes immediately after ErisX was given the first-ever BitLicense this year by the New York State Department of Financial Services (NYDFS).

As with its BTC counterpart, the ETH futures contracts will enable investors to choose among a monthly contract and a quarterly contract. One noticeable difference is the position limit in both the BTC futures and the ETH futures. BTC futures provide up to 200,000 contracts even as ETH futures permit just 75,000 contracts.

The Ethereum network is the pioneering programmable blockchain that provides real-world value to businesses, governments, and people. As the network’s digital power, Ether is equally designed to commodities exchanged in today ‘s conventional capital markets, stated Joseph Lubin, creator of ConsenSys, an active investor in ErisX.

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Author : Azeez Mustapha


Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.