ErisX Clearing Functionality Now Available on TradeBlock – Business Wire | Jewelry Dukan

STAMFORD, Conn.–(BUSINESS WIRE). cash-settled OTC trades using the ErisX settlement service. The ErisX clearing facility, accessed through the TradeBlock platform, helps mitigate the settlement risk inherent in OTC trades. This alliance with ErisX represents TradeBlock’s commitment to streamlining institutional workflows in the crypto market.

“We strongly believe that institutional investors entering the crypto asset market will look for solutions that enable them to operate efficiently, reduce risk and help increase regulatory compliance in other markets ensure,” said Breanne Madigan, CEO of TradeBlock.This collaboration brings a tool common in futures and stocks markets to the crypto markets and aims to improve institutional participation in the asset class. We believe that TradeBlock and ErisX, which enable OTC trade clearing, will make OTC crypto transactions more efficient, with less risk and the same level of automation as other mature markets.”

In the past, the settlement period for an OTC crypto transaction could often take more than two days, according to research by TradeBlock. The lengthy process can lead to unpredictable slippage, delivery and counterparty risks after a trade. This creates hurdles that deter investors used to the straight-through processing of stock and futures markets. By working with ErisX, TradeBlock will provide tools to better manage these risks and improve trading operations by bringing more certainty to the settlement process.

“As crypto markets continue to mature, it’s reasonable for investors to expect the same convenience and functionality available in virtually every asset class, including crypto,” said John Palmer, President of ErisX. “Our regulated clearing solution combined with TradeBlock’s institutional platform is a solid combination to facilitate this transition and drive adoption of digital currencies as an investment.”

ErisX and TradeBlock have previously collaborated to offer ErisX spot market data on the TradeBlock market page, available here.

About TradeBlock

TradeBlock provides the premier platform for institutional digital currency traders, complete with a powerful suite of market and blockchain data, execution and post-trade tools for liquidity providers, wealth managers, corporate clients and exchanges, among others. For more information on TradeBlock, please visit us at https://tradeblock.com or email us at contact@tradeblock.com.

About ErisX

ErisX offers individuals and institutions a single, innovative platform to access crypto spot and futures markets. Combining professional tools, advanced technology, sophisticated regulatory oversight and a diverse range of products, ErisX offers digital market participants capital markets-friendly workflows. Backed by some of the world’s largest trading firms and financial institutions, ErisX brings transparency and reliability to the digital asset class. ErisX, Eris Exchange and the ErisX and Eris Exchange logos are trademarks of the Eris Exchange group of companies or its affiliates.

ErisX futures are offered through Eris Exchange, LLC, a Designated Contract Market (DCM) registered by the Commodity Futures Trading Commission (CFTC) and Eris Clearing, LLC, a registered Derivatives Clearing Organization (DCO). The CFTC has no regulatory oversight authority over virtual currency products, including spot market trading in virtual currencies. The ErisX Spot Market is not licensed, authorized or registered with the CFTC, and transactions on the ErisX Spot Market are not subject to the rules, regulations or oversight of the CFTC. ErisX Spot Market may be subject to certain state licensing requirements and operates in New York under Eris Clearing’s license granted by the New York State Department of Financial Services to conduct virtual currency transactions.

Disclosures, Disclaimers, and Policies

Leave a Comment