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TD Ameritrade, the first brokerage company to launch online trading for traditional resources, today announced its investment in ErisX, a new regulated cryptocurrency for spot trades and futures opened by Eris Exchange, a Chicago derivatives market .
ErisX is designed to offer traders access to spot cryptocurrency contracts and futures contracts on a single stock exchange. Spokeswoman Jessica Darmoni says it will allow investors to trade in Bitcoin, Ether, Bitcoin Cash and Litecoin, as well as futures contracts on cryptocurrencies.
TD Ameritrade says that its retail clients "are trying to access and exchange products in digital currency in the same way they do with traditional capital markets – through a legitimate, regulated and transparent exchange".
Among the first financial services companies to offer customers approved access to Bitcoin futures contracts on the CBOE Futures Exchange, TD Ameritrade will be able to expand its cryptocurrency offers through ErisX.
Reuters reports that ErisX will offer TD Ameritrade customers the opportunity to exchange "other cryptocurrency futures, such as Ethereum and Litecoin", according to J.B. Mackenzie, CEO of TD Ameritrade of futures and foreign currency.
Steve Quirk, executive vice president of trading and education at TD Ameritrade, adds: "That's why we chose to invest in ErisX – to make digital currency products more accessible to retail customers."
TD Ameritrade is part of a growing list of traditional financial services companies that are expanding into the market for alternative cryptocurrency resources. Despite the Bitcoin Bears market, which brought down the world's largest cryptocurrency from its December historical high of $ 20,000 to today's price of $ 6,486, companies are taking advantage of the calm period to build an infrastructure criticism as they prepare for greater traditional adoption.
In a panorama of digital assets that is attracting more and more competitors, ErisX will face Bakkt, a new cryptocurrency platform scheduled for next autumn. Supported by Intercontinental Exchange, Bakkt, like ErisX, will offer physically-delivered futures contracts, offering investors the cryptocurrencies underlying the expiration of the contract.
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As a technology leader in the financial services space, TD Ameritrade provides 11 million customer accounts totaling over $ 1.2 trillion of assets. The company has a long history of integrating new technologies into legacy platforms and stimulates enough interest and adoption among its customer base to make new and new services mainstream.
The company writes in its announcement,
"TD Ameritrade has a proud history of innovation that dates back to its foundation in 1975, including the possibility of being the first to allow the buying and selling of shares through the touch-tone telephone, the first to offer Internet trading, the first to offer the trading of mobile devices, and – more recently – the first to exploit artificial intelligence to offer trading through an automated agent. "
DRW Holdings Inc. and Virtu Financial Inc. are also supporters of ErisX, together with Valor Equity Partners, NEX Opportunities, Cboe Global Markets Inc., Susquehanna International Group and ED & F Man Capital Markets Inc.
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