U.S-based cryptocurrency exchange, ErisX is reportedly making moves directed at launching its own spot trading services soon.
ErisX Already Testing the Spot Trading Service
It was revealed in a recent report that the Chicago based exchange has recently been in a test mode which features some selected financial firms rumoured to be the potentially users of the platform once fully launched.
United States retail brokerage TD Ameritrade, is one of the firm listed in the report as partakers of the test mode.
This is not surprising as TD Ameritrade, already revealed that it has investment in ErisX in October of last year.
With its launch date set for later this year, the new trading platform aims to host spot crypto and crypto derivative trading once live and fully approved by regulators.
The report which revealed that TD Ameritrade has investment in ErisX also made it known that investing company DRW Holdings and high-frequency trader Virtu Financial also invested in the exchange. These two are reportedly ErisX’s official market makers.
With TD Ameritrade shifting its attention towards the crypto space, the major exchange could soon start offering crypto trading to 11 million retail clients. This would make it one of the first major brokers to offer cryptocurrency trading.
ErisX has also confirmed the upcoming official launch of the spot platform in a recent tweet published on April 23. The exchange also confirmed that a “limited number of participants are currently testing the platform.
ErisX Appointed Financial and Tech Veterans for Executive Roles
About 2 months go, ErisX appointed three veterans from Barclays, Youtube and the Chicago Board Options Exchange to fill executive roles at the company. The announcement which was published then listed the roles and name of each appointee.
There is was stated that: Robert Thrash will serve as chief operating officer (COO), Arnold Connell as head of infrastructure and John Denza as ErisX’s business development executive.