Cboe Closes ErisX Acquisition

Cboe Global Markets has closed its acquisition of institutional cryptocurrency exchange ErisX, with the newly combined company’s executives saying they intend to integrate quickly while digital asset markets remain hot. ErisX operates a US-based digital asset spot market, as well as a regulated futures exchange and clearinghouse. Set to be rebranded as Cboe Digital, the business will function as a subsidiary run by ErisX CEO Thomas Chippas. A company of 55 people at the time of acquisition, ErisX will now leverage Cboe’s more ample resources, Chippasid said in a story in Blockworks news. ErisX Chief Operating Officer Matt Trudeau said the highest priority for the company in the near term is adding margin capability to its clearinghouse. It has an application pending with the Commodity Futures Trading Commission (CFTC) to offer margin crypto futures that are both physically settled and cash settled. The soon-to-be Cboe Digital will also now look to expand its spot offerings beyond bitcoin, bitcoin cash, litecoin and ether.