Cboe Global Markets Enters into Digital Asset Market Through Acquisition of ErisX

Cboe Global Markets, Inc., a leading provider of global market infrastructure and tradable products, announced it has completed the acquisition of Eris Digital Holdings, LLC (ErisX), an operator of a U.S. based digital asset spot market, a regulated futures exchange and a regulated clearinghouse.

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Ownership of ErisX allows Cboe to enter the digital asset spot and derivatives marketplaces through a digital-first platform developed with industry partners to focus on robust regulatory compliance, data and transparency.

"Adding ErisX to the Cboe network is another exciting chapter in Cboe's growth story. We see enormous potential in the digital asset market and are excited to apply our blueprint of success to this burgeoning asset class,"said Ed Tilly, Chairman, President and Chief Executive Officer of Cboe Global Markets."Tom Chippas and the entire ErisX team have made significant progress bringing the regulatory framework and transparency of traditional markets to the digital asset space, and I look forward to working together, with our industry partners, to grow the digital asset market on a global scale."

Cboe plans to operate the ErisX business as a subsidiary with Thomas Chippas, Chief Executive Officer of ErisX, remaining as head of the digital asset business, reporting to Chris Isaacson, Executive Vice President and Chief Operating Officer of Cboe.

In addition to operating the existing spot, derivative and clearing platforms, Cboe also intends to develop and distribute a range of digital asset data products. Using robust market data based fundamentally on actionable bid and offer prices from the spot crypto market, Cboe Digital plans to develop a benchmark data stream to help market participants evaluate the appropriateness of crypto execution prices.

"I am incredibly proud of the ErisX team for their relentless pursuit of innovation in the digital asset space. From the beginning, our vision was to advance the digital asset spot, data, derivatives and clearing ecosystem by making regulatory compliance and operational integrity the foundation of the ErisX business,"said Thomas Chippas, Chief Executive Officer of ErisX."I couldn't be more excited for the future as we join forces with Cboe and our industry partners to leverage their collective market expertise and global resources to not only grow ErisX, but also to develop global regulatory and compliance standards that have a lasting impact on the entire digital asset space."

With Cboe, ErisX aims to be a digital asset market rooted in the exchange principles of transparency and regulatory compliance, supported by a network of intermediaries, providing client-driven solutions that help institutions fully embrace this emerging asset class.