Cboe's ErisX Launches Settlement Service for OTC Crypto Transactions

Source: Fanny 2022-09-08

Fazzaco learned that ErisX, a Cboe Global Markets company, has expanded its suite of tools for institutional investors with the launch of ErisX Settlement Service, a new solution designed to help remove settlement risk for over-the-counter (OTC) crypto transactions.

According to the official press release, with ErisX Settlement Service, institutional investors will be able to settle OTC trades with other ErisX customers using a transparent U.S. licensed crypto spot market. They can use this new solution via standardized API or ErisX's fully integrated Trading User Interface.

"The ErisX marketplace was conceived from building blocks used in the traditional financial markets. Our newly launched ErisX Settlement Service responds to customer demand for a solution that helps remove settlement risk while also reducing the operational burden for OTC trading," said Matthew Trudeau, Chief Operating Officer of ErisX. "We look forward to welcoming new investors to our crypto markets with an efficient and effective solution for clearing and settlement."

Let's recall that, earlier in this year, Cboe Global Markets, Inc. 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. 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.

ErisX

ErisX Settlement Service

Cryptocurrency

Cboe's ErisX Launches Settlement Service for OTC Crypto Transactions

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