EriX, a cryptocurrency exchange based out of Chicago, Illinois is reported to be on the verge of launching its spot trading service, according to a number of news outlets. According to recent reports, the exchange has recently been running platform tests with a number of financial firms that might possibly become users. U.S. retail brokerage TD Ameritrade is reported to be among those firms. During the Fall of 2018, TD Ameritrade reported that it invested in ErisX. The trading platform is reportedly designed to host spot cryptocurrencies and cryptocurrency derivative trading at some point this year, once it has obtained regulatory approval.
As outlined by a report released recently, investment firm DRW Holdings and high-volume trader Virtu Financial have also invested funds in ErisX. In addition, both also have reportedly consented to being market makers for the exchange. It has further been reported that TD Ameritrade could soon be offering cryptocurrency trading to approximately 11 million clients. Should TD Ameritrade officially link itself to ErisX, it would become one of the first key brokers to supply clients with cryptocurrency trading capabilities.
On April 23rd, ErisX posted a tweet which stated that a limited number of firms are currently screening the platform.
As previously reported by Cointelegraph earlier this week, Twitter account holder Cryptopolis, an analyst at StrongMarket, tweeted that he had purchased a single bitcoin by way of an account with TD Ameritrade on Nasdaq. However, he later stated that the trade had not actually been processed and cleared. Even so, he went on to claim that Nasdaq is privately working on a new bitcoin-based asset that would only be made available via their Paper Trading system.
At the start of April, ErisX hired three seasoned experts from Barclays, Youtube and the CBOE (Chicago Board Options Exchange) to fill executive management positions at the company.