Chicago-based derivatives clearing company, ErisX, announced today the addition of physically settled Ether contracts to its current futures products.
Before now, ErisX was offering physically settled Bitcoin (BTC) contracts. While BTC remains the dominant player in cryptocurrency, ETH has been trailing behind in second place. Although it is no surprise that ErisX chose to launch an Ether product as its next project, no other cryptocurrency derivatives exchange has done this, making ErisX the first in the United States.
ErisX boasts of transparency, ease, and broader inclusion for investors. In its announcement on ErisX Insight, its official press release platform, it states that:
“ErisX believes in the crypto ethos of accessibility to all on equal terms. Our Ethereum futures contracts trade in our time-tested and proven central limit order book (CLOB). This ensures that the best price on the market is accessible to everyone. CLOBs enable all participants to trade with each other without requiring new and exclusive agreements with each counterparty, and our surveillance program works to prevent malicious activity.”
The ETH futures contracts, much like its BTC counterpart, will allow investors to choose between a monthly contract and a quarterly contract. One significant difference between the BTC futures and the ETH futures is the position limit. BTC futures allow up to 200,000 contracts while ETH futures only allow 75,000 contracts.