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Eris Exchange to Create Crypto Market Backed by DRW, Virtu

  • Will offer traders of digital assets and related futures
  • Effort still needs regulatory apporoval to open in 2019
Mining farms
Photographer: Andrey Rudakov/Bloomberg
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Eris Exchange LLC, a Chicago-based derivatives market, is opening a cryptocurrency market backed by DRW Holdings Inc., Virtu Financial Inc. and TD Ameritrade Holding Corp.

The ErisX platform will let investors trade Bitcoin, Ether, Bitcoin Cash and Litecoin, as well as futures contracts on cryptocurrencies, according to spokeswoman Jessica Darmoni. The futures will be physically delivered, industry jargon that means when the contracts expire, owners will be given the underlying cryptocurrency, not cash. That’s important to some big players in finance who don’t trust the largely unregulated markets where Bitcoin and other digital coins currently trade.