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TD Ameritrade to Back Crypto Exchange ErisX




Brokerage firm TD Ameritrade announced that it is supporting new crypto exchange ErisX.

The company made it known in a press release that was posted on the company’s website.

TD Ameritrade, which at the moment, offers investment services to up to 11 million clients, did not disclose the details of the deal. However, according to Bloomberg, investing company DRW Holdings and high-speed trader Virtu Financial are also getting involved with investments. Both have consented to be market makers for ErisX, which might help ensure a deep order book, the report by Bloomberg indicated.

ErisX, a reboot of conventional futures market Eris Exchange was introduced eight years ago in 2010, is getting set to publicize its business plan. The exchange is expected to begin a direct sale of cryptocurrencies along with futures contracts early next year. It would let investors to trade in Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC).

The head of futures and foreign exchange trading at TD Ameritrade, J.B. Mackenzie, was quoted as saying that the brokerage firm wanted to switch cryptocurrency into “something they [investors] feel comfortable with in regulated space.”

Another TD Ameritrade official, executive vice president of trading and education Steve Quirk, exclaimed that the brokerage clients had shown interest in coin trading, saying:

“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.”

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