ErisX Announces Settlement Service for Over-The-Counter Crypto Transactions

Rhea-AI Summary

Cboe Global Markets announced the launch of the ErisX Settlement Service, a solution aimed at eliminating settlement risk in over-the-counter (OTC) crypto transactions. This service provides institutional investors with a transparent platform to settle OTC trades with ErisX customers, enhancing operational efficiency. Matthew Trudeau, COO of ErisX, emphasized the marketplace's foundation in traditional finance, responding to customer demand for reduced settlement risk. The service is accessible through standardized API or a fully integrated Trading User Interface.

Positive

• Launch of ErisX Settlement Service enhances operational efficiency for OTC crypto transactions.
• Service aims to reduce settlement risk for institutional investors, responding to market demand.

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• None.

CHICAGO, Sept. 7, 2022 /PRNewswire/ -- ErisX, a Cboe Global Markets company, today announced it has introduced the ErisX Settlement Service, a new solution designed to help remove settlement risk for over-the-counter (OTC) crypto transactions. The new offering expands ErisX's suite of tools for institutional investors, enabling them to settle OTC trades with other ErisX customers using a transparent U.S. licensed crypto spot market.

The ErisX Settlement Service can be accessed 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."

About Cboe Global Markets, Inc.

Cboe Global Markets (Cboe: CBOE), a leading provider of market infrastructure and tradable products, delivers cutting-edge trading, clearing and investment solutions to market participants around the world. The company is committed to operating a trusted, inclusive global marketplace, providing leading products, technology and data solutions that enable participants to define a sustainable financial future. Cboe provides trading solutions and products in multiple asset classes, including equities, derivatives and FX, across North America, Europe and Asia Pacific. To learn more, visit www.cboe.com.

About ErisX

ErisX Futures are offered through Eris Exchange, LLC, a Commodity Futures Trading Commission (CFTC) registered Designated Contract Market (DCM) and Eris Clearing, LLC, a registered Derivatives Clearing Organization (DCO). The CFTC does not have regulatory oversight authority over spot market trading of virtual currencies. ErisX Spot Market is not licensed, approved or registered with the CFTC and transactions on the ErisX Spot Market are not subject to CFTC rules, regulations or regulatory oversight. ErisX Spot Market is offered through Eris Clearing, LLC, which is licensed to engage in virtual currency business activity by the New York State Department of Financial Services and holds licenses in other U.S. states and territories. https://www.Erisx.com/disclaimer/.

ErisX offers individuals and institutions a single, innovative platform to access crypto spot and futures markets. By combining professional tools, advanced technology, sophisticated regulatory oversight, and a diverse product set, ErisX offers compliant, capital markets friendly workflows to digital market participants. 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.

Cboe Media Contact	ErisX Media Contact	Cboe Analyst Contact
Angela Tu	Jessica Darmoni	Kenneth Hill, CFA
+1-646-856-8734	+1-312-756-8716	+1-312-786-7559
atu@cboe.com	Jessica.darmoni@erisx.com	khill@cboe.com

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Cboe®, Cboe Global Markets®, Cboe Volatility Index®, ErisX®, and VIX® are registered trademarks of Cboe Exchange, Inc. All other trademarks and service marks are the property of their respective owners.

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SOURCE Cboe Global Markets, Inc.

FAQ

What is the ErisX Settlement Service announced by Cboe?

The ErisX Settlement Service is a new solution designed to eliminate settlement risk for over-the-counter (OTC) crypto transactions.

How do institutional investors benefit from the ErisX Settlement Service?

The service allows institutional investors to settle OTC trades with other ErisX customers, enhancing operational efficiency.

When was the ErisX Settlement Service introduced?

The ErisX Settlement Service was announced on September 7, 2022.

How can users access the ErisX Settlement Service?

Users can access the service via a standardized API or ErisX's fully integrated Trading User Interface.

What company operates ErisX?

ErisX is operated by Cboe Global Markets.