TD Ameritrade joins the group for a new exchange related to cryptography

TD Ameritrade announced Wednesday that it has invested in ErisX, a new regulated derivatives exchange for trading cryptocurrency and futures.

Clients of TD Ameritrade Holding Corp.

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We can already trade futures on Bitcoin, but today's announcement paves the way for new cryptocurrency product offerings.

"Our retail customers are looking to access and market digital cash products in the same way they do with traditional capital markets – through legitimate, regulated and transparent trading," said Steve Quirk. Executive Vice President, Trading & Education at TD Ameritrade. Press release. "That's precisely why we chose to invest in ErisX to make digital currency products more accessible to retail customers."

Lily: TD Ameritrade to Open Bitcoin Futures Trading

This decision comes as the digital asset market comes up against universal acceptance. Exchange hacks and excessive volatility continue to undermine the integrity of the market and despite the introduction of bitcoin

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futures trading in global markets Cboe Global Inc.

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and CME Group Inc.

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trade of December 2017, volumes have disappointed.

In addition, large banks are reluctant to expand their cryptography offerings into the nascent asset as regulators struggle to find the best way to navigate the industry.

Don Wilson, who supports the launch of ErisX through holding company DRW Holdings, as well as TD Ameritrade and others, hopes today's announcement will help reduce some of the hurdles to adoption of the market.

"ErisX will remove many barriers to institutional adoption and pave the way for a new wave of market participants," Wilson said in a separate press release regarding the deal. "This further expands the space of digital resources and brings more transparency to these evolving markets."

Cboe Global Markets Inc. joins TD Ameritrade, alongside DRW Holdings.

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and Digital Currency Group to support the new exchange, according to ErisX.

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