TD Ameritrade Invests in a New Regulated Crypto Exchange for Spot and Futures Trading
After being among the first financial services firms to offer approved clients with access to bitcoin futures contracts last year, TD Ameritrade Holding Corporation (Nasdaq: AMTD) announced it has made a strategic investment in ErisX, a regulated derivatives exchange and clearing organization that will include digital asset futures and spot contracts on one platform.
“Our retail clients are seeking to access and trade digital currency products in the same way they do with traditional capital markets – through a legitimate, regulated and transparent exchange,” said Steve Quirk, executive vice president of Trading & Education at TD Ameritrade. “That’s precisely why we chose to invest in ErisX – to make digital currency products more accessible to retail clients.”
“As a strategic investor in the initiative, we look forward to working with the team at ErisX as they develop and launch digital currency products designed to fulfill the needs of retail investors,” said JB Mackenzie, managing director Futures & Forex at TD Ameritrade. “ErisX’s plan is to offer traders access to cryptocurrency spot contracts as well as futures contracts on a single exchange.”
“TD Ameritrade is an innovative, forward-thinking firm and we are thrilled to join with them to deliver their clients access to the secure and transparent ErisX digital asset market,” said Thomas Chippas, CEO of ErisX.
TD Ameritrade has a proud history of innovation dating back to its founding in 1975 that includes being the first to enable stock trading over the touch-tone phone, the first to offer trading over the Internet, the first to offer mobile device trading, and – most recently – the first to leverage artificial intelligence to offer trading via an automated agent.