Bitcoin Startup LedgerX Seeks Approval as a Federally Regulated Clearing Platform
LedgerX, an institutional trading platform that hopes to be the first federally regulated derivatives clearing organization for digital-based options, recently received an investment from Miami International Holdings Inc. MIH invested in LedgerX’s parent company, Ledger Holdings, and received a 10-year, exclusive global right to license equity or fixed income products related to digital currencies developed by LedgerX and to develop its own equity or fixed income derivatives based on such LedgerX products to be listed on MIAX Options and MIAX PEARL, MIH’s second options exchange. MIH also....
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LedgerX has received temporary approval from the US Commodities Futures Trading Commission to act as a swap execution facility. The bitcoin options startup applied for licensure last year and has received backing from Lightspeed Venture Partners and Google Ventures. LedgerX CEO Paul Chou said that despite the temporary approval, the exchange isn't set to launch until further licensure is acquired. He said of the temporary approval: "This is a first step, and is positive progress, but it is just one milestone toward our ultimate goal. Our mission is still to obtain a derivatives clearing....
The wait is almost over for LedgerX, a New York-based bitcoin swaps startup with a board boasting a who's who of financial sector bigwigs. After two years of building, the firm that had already raised $1.5m from Google Ventures, Lightspeed Venture Partners and others, says it is now ready to push for its final approval from the US regulator, the Commodity Futures Trading Commission (CFTC). If granted, LedgerX would be able to launch a federally regulated bitcoin options exchange and the first clearing house to list and clear fully collateralized, physically settled bitcoin options for the....
LedgerX is a trading and clearing platform exchange dealing with bitcoin. The company is currently seeking regulatory approval from the US Commodity Futures Trading Commission (CFTC) to start publicly operating. If approved, LedgerX will be the first federally regulated bitcoin exchange and clearing house to list bitcoin options for the institutional market. The LedgerX management team comprises Goldman Sachs, MIT and CFTC alumni, and financial expertise with the know-how of its early investors, which includes Google Ventures and LightSpeed Ventures. LedgerX has recently announced it was....
Federally regulated bitcoin exchanges seem to be becoming a trend. Paul Chou, a consultant and former Goldman Sachs trader is readying LedgerX Bitcoin derivatives exchange and clearing house. LedgerX seems like a service that could help Bitcoin derivatives come a step closer to additional legitimacy by being fully regulated. While working for Goldman Sachs, Chou was responsible for the development of algorithmic strategies for equity trading for U. S. and Japanese markets. He also developed a set of cross-asset strategies and devised a method to unify and optimize the trade flow across....
LedgerX, the bitcoin derivative exchange and trading platform started by ex-Wall Street honcho Paul Chou has received a temporary approval from the United States Commodities Futures and Trading Commission. This approval means the company can now have swap execution facilities as part of its operations. The CTFC approval has been a long awaited one for LedgerX as it had applied for it almost a year ago. Even then, the approval LedgerX received is a temporary one. However, the founder and CEO of the company Paul Chou has stated that they won't be launching their exchange until they receive....