Digital currency futures and options exchange and clearinghouse LedgerX pursues digital currency perpetuals powered by digital asset data infrastructure company Brave New Coin.
LedgerX will use Brave New Coin’s high-frequency BTC and ETH price feeds for its perpetual products, which it intends to submit to the Commodity Futures Trading Commission (CFTC) for its review and approval. LedgerX was the first CFTC regulated cryptocurrency derivatives exchange, and is backed by Digital Finance Group, Lightspeed Venture Partners, Miami International Holdings, Google Ventures, and SV Angel. Once again, LedgerX is the first to innovate in US derivatives markets and will be seeking the CFTC’s review and determination that all regulatory requirements pertaining to perpetuals are satisfied, including product, trading, clearing and all other relevant areas.
“We’re pleased to work with LedgerX to integrate our high-frequency index engine. The industry has been anticipating the launch of additional LedgerX products, and for good reason. We believe LedgerX will be able to out-innovate the legacy competitors,” said Fran Strajnar, Founder of Brave New Coin. “We look forward to continued work with LedgerX to ensure its exchange has access to the best digital asset data in the sector.”
“As we started developing perpetual products, it became clear to us that Brave New Coin’s digital asset infrastructure and capabilities were key to helping us deliver the best product to our users,” said Zach Dexter, CEO at LedgerX. “BNC has offered us the support we need as we scale up our offering in 2021.”
LedgerX is available to both retail and institutional investors 24×7 and offers physical settlement of all contracts, block trading and algorithmic trading opportunities for institutional investors, and direct access for all traders. Since launching in 2017, LedgerX has cleared over 10 million options and swaps contracts.
Since its launch in early 2020, Brave New Coin’s cryptocurrency index infrastructure has been in high demand by companies including BTSE and the Toronto Futures Options and Swaps Exchange (tFOSE). BNC provides data and index solutions for several partners including Refinitiv, Amazon Alexa, Dow Jones Factiva, NASDAQ, BTSE.com and many more.