CFTC Reaches Settlement With Bitcoin Swaps Shop TeraExchange
The US Commodity Futures Trading Commission (CFTC) has settled charges it filed today against New Jersey-based bitcoin swap execution facility (SEF) TeraExchange. The charges stem from a non-deliverable forward contract executed on 8th October on TeraExchange, which is provisionally registered as a SEF. The transaction took place under the active guidance of TeraExchange, without any associated trading fees or collateral requirements, the agency said. According to the CFTC, these actions constitute wash trading and prearranged trading in violation of the Commodity Exchange Act. The agency....
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The Commodity Futures Trading Commission (CFTC) has granted formal registration to a trading platform that was an early entrant in the market for bitcoin financial derivatives. TeraExchange, a swaps execution facility based in New Jersey, had been previously operating under a temporary registration order, and today's announcement formally recognizes this designation. The CFTC said it would regulate bitcoin as a commodity in September of last year. The approval, one of three granted today according to a release from the agency, comes months after the CFTC simultaneously charged and settled....
Announced today: TeraExchange has announced that they have completed the first bitcoin derivative trade to be executed on a regulated exchange platform. According to the announcement, the trade was executed between digitalBTC and a hedging counterparty. From today's announcement: The TeraExchange USD/Bitcoin swap provides institutional market participants with the first regulated risk transfer mechanism to hedge or gain exposure to bitcoin. All trading of USD/Bitcoin swaps on TeraExchange, a regulated swap execution facility, are now subject to the rules and regulations of TeraExchange and....
TeraExchange, a New Jersey-based swap execution facility announced Thursday the completion of the first bitcoin derivatives transaction on a regulated exchange. The maiden transaction was completed between digitalBTC and a hedging counterparty. Incidentally, this first bitcoin derivatives transaction happened on the same day that the Commodities and Futures Trading Commission is hosting the Global Markets Advisory Committee in Washington DC. The public meeting includes a bitcoin derivatives-based panel discussion among CFTC Staff, academics and bitcoin industry participants including....
TeraExchange has announced a new partnership with bitcoin security firm BitGo, a deal both parties view as a step toward bringing traditional trading standards to the bitcoin industry. The partnership, the companies said, will position TeraExchange as the only player in the bitcoin exchange industry to provide clients with the ability to collateralize bitcoin derivative trades. BitGo will provide multi-signature block chain services for the USD/BTC swaps on TeraExchange's platform, and in turn, TeraExchange will provide its clients with multi-signature escrow accounts where neither party....
TeraExchange, a New Jersey-based swap execution facility has launched its first regulated platform for Bitcoin derivatives and a spot BTC price index. The company that is registered with the Commodity Futures Trading Commission CFTC, announced the launch of the platform on Friday September 12th, 2014. Growing Demand for Bitcoin Derivatives. In a press release, the company stated that the Bitcoin Derivatives and Bitcoin Price Index platforms were created to meet the growing demand by global merchants, payment processors, miners and hedge funds for an efficient hedging tool. This new....