Start Your Hedging: LedgerX to Begin Trading Cryptocurrency Derivatives
From Coindesk
For the first time ever, the U.S. Commodity Futures Trading Commission (CFTC) has given permission to a private company to exchange and clear any number of cryptocurrency derivatives.https://www.coindesk.com/start-hedging-ledgerx-begin-trading-cryptocurrency-derivatives/After three years of work, New York-based startup LedgerX was today granted a rare derivatives clearing organization (DCO) license allowing it to clear and custody financial instruments backed by bitcoin, ether and any number of blockchain-based cryptocurrencies.
The instruments, designed to mitigate investment risk, are the latest signal that the cryptocurrency markets are maturing, with the total value of the asset class crossing $115bn earlier this year.
But the guidance from the agency in charge of ensuring the integrity of all futures and swaps markets in the US could have bigger implications than just letting a single company finally open for business.
LedgerX co-founder and CEO Paul Chou told CoinDesk:
"It means a lot, not just for the industry, but globally, because the CFTC will set the example of what a well-licensed clearinghouse and exchange based around digital currencies will look like."
As part of the DCO license, LedgerX will be required to surveil the institutional investors it works with and create increased transparency about those customers for the regulatory agency. Eligible participants include broker dealers, banks, futures commission merchants, qualified commodity pools and qualified high net worth investors.
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This is fantastic news you guys. Do you realize how many millions upon millions of dollars are going to pour into cryptocurrencies now? This is finally picking up some 'STEEM' :P
Awesome post content! How do you "quote" stuff like that?
.. Can anyone tell me how many different crypto-currencies there are available now days??
Here are some...
..but there are more right?
about 800, the ones that hold real value and solve a real world problem will survive in the next years, Ripple for example. just made a blog about it, its a sleeping giant!
Would you consider Steem to have real value , considering it has real content and users as backing ?
STEEM's value comes from its backing of a second crypto pegged to fiat (Steem Dollars SBD) and from its usefulness on the platform itself. The fact that they are both traded on different exchanges allows speculators to raise the value as well.
... cant wait till we can buy beers in the pub with Steem!!
... first round is on me when it happens ;)
XRP is going to go up big time again this year. The Feds are lookin at it for a payment protocol now.
https://www.coinmarketcap.com All of the information you would ever need. 829 currencies and 179 crypto assets listed.
..thanks for the info, have a lot of reading up to do!
This market is just growing and growing...
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