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ErisX

erisx.com

Founded Year

2018

Stage

Acquired | Acquired

Total Raised

$47.5M

About ErisX

ErisX is a cryptocurrency exchange providing clients both spot and futures contracts on its platform. The company was founded in 2018 and is based in Chicago, Illinois. On October 20th, 2021, ErisX was acquired by Cboe. Terms of the transaction were not disclosed.

Headquarters Location

227 West Monroe St. Suite 2070

Chicago, Illinois, 60606,

United States

888 782 7481

ESPs containing ErisX

The ESP matrix leverages data and analyst insight to identify and rank leading companies in a given technology landscape.

EXECUTION STRENGTH ➡MARKET STRENGTH ➡LEADERHIGHFLIEROUTPERFORMERCHALLENGER
Financial Services / Capital Markets Tech

This market includes companies that enable and support the institutional trade of cryptocurrency. Given the lack of legacy technology to support crypto, these solutions offer diverse capabilities that range from data management for digital assets to front-office trading interfaces.

ErisX named as Leader among 13 other companies, including Lukka, Metaco, and AlgoTrader.

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ErisX's Products & Differentiators

    BTC Physically Settled Futures

    Bitcoin futures contracts that allow delivery of the underlying commodity if held until final settlement.

Expert Collections containing ErisX

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

ErisX is included in 4 Expert Collections, including Blockchain.

B

Blockchain

6,200 items

Companies and startups in this collection leverage blockchain technology for crypto trading, decentralized finance (DeFi), NFTs, and more.

F

Fintech

7,746 items

US-based companies

B

Blockchain 50

50 items

C

Capital Markets Tech

121 items

Latest ErisX News

EQS-News: Hacking, Fake Volume And Market Manipulation The Issues In Crypto Trading And How One Company Is Helping Combat Them

Sep 21, 2022

EQS-News: Hacking, Fake Volume And Market Manipulation The Issues In Crypto Trading And How One Company Is Helping Combat Them 21.09.2022 15:37:45 EQS-News: Hacking, Fake Volume And Market Manipulation The Issues In Crypto Trading And How One Company Is Helping Combat Them A EQS-News: CBOE Global Markets, Inc. Hacking, Fake Volume And Market Manipulation The Issues In Crypto Trading And How One Company Is Helping Combat Them 21.09.2022 / 15:37 CET/CEST Last year, the world witnessed the powerful potential of cryptocurrency as a new asset class. Anzeige Basiswert Operating alongside a rampant post-pandemic bull run, Bitcoins (CRYPTO: BTC) market capitalization climbed to a height of $1.1 trillion , dwarfing nearly every U.S. stock market listing save Apple Inc. (NASDAQ: AAPL), Amazon.com Inc. (NASDAQ: AMZN), Microsoft Corp. (NASDAQ: MSFT) and Alphabet Inc. (NASDAQ: GOOGL). In a more symbolic sense, blockchains central values like anonymity, decentralization and personal power were also championed throughout this run, bringing its advocates to new heights of confidence. But beyond the wave of euphoria, experts close to the intricate workings of these blockchain systems began to detail a story showing an asset class in its infancy. Ripe at this stage are issues that mature markets such as equities, bonds and foreign exchange have long been combating but are largely unaddressed in crypto. Recent activity at Three Arrows Capital, Voyager and Celsius have proven the need for better risk controls, risk management, disclosures and, above all, a regulatory framework for the crypto asset class. Issues In Crypto The Three Arrows Capital (3AC) fiasco exemplified all thats wrong with the unregulated crypto environment. The story unfolds as follows: After amassing a reported $10 billion fortune, most of which was driven by uncollateralized loans, 3AC placed a $200 million investment into LUNA, a stablecoin that had been pegged to the U.S. dollar. When, unexpectedly, Lunas algorithm deviated from its pegging protocol, the coins value fell from $80 to a couple of cents, triggering a significant loss for 3AC and foreshadowing future crypto catastrophes. Coupled with a 2022 bear market that crippled their investments in Bitcoin, Ethereum and other cryptocurrencies, 3AC experienced a wave of margin calls from crypto lenders BlockFi, Genesis and Voyageur. Extenuated by failing investments like Axie Infinity, which experienced a $600 million hack, the firm eventually defaulted on its margin calls and filed for bankruptcy. 3ACs downfall led to a wave of potent declines in crypto lending platforms. Voyageur filed for bankruptcy after 3AC failed to pay its $670 million, while Blockchain.com, FTX, Genesis, BlockFi and BitMEX all incurred life-threatening losses. Potential Future Solutions According to some, these failures have shined a light on the importance of regulated markets and the need to manage counterparty risk, credit risk, liquidity risk, anti-money laundering (AML) and fraudulent activity. With proper regulatory guidelines and professional surveillance, the crypto market can finally grow up, and move into the adolescent/mature stages of its development. Specifically, regulators envision that the future of crypto will include: Extended focus on how counterparties are regulated to satisfy both customer and regulator inquiries and requirements Risk management will become much more prominent - with questionnaires, credit assessments and limits, know-your-customer (KYC) and AML protocols all set as requirements as in the regular trading environment Certain operational controls and auditing requirements similar to SOC 2 type II with certifications coming from regulatory bodies Dissipation of the advantages of skirting compliance and oversight and a drive towards building trust through adherence to regulation Prosecution of those who beach regulatory principles, leading to a loss of jobs, fines, and possible imprisonment The belief is: If the crypto trading environment wants to ever be taken seriously by mainstream investors, it must begin acting in a far more responsible manner. Cboe Works To Bridge The Regulatory Gap Some operators are championing the regulatory movement. Through a recent acquisition of Eris Digital Holdings or ErisX, Cboe Global Markets Inc. (BATS: CBOE) has formalized a commitment to filling the trust gap and bringing the intermediaries that serve ordinary people to the platform to enable their customers to trade confidently. ErisX is a U.S-based digital asset spot market, a regulated futures exchange and a clearinghouse. Among the firms central beliefs is faith in the power of appropriate regulation, surveillance and monitoring practices to rid cryptocurrencies and their traders of market fraud and manipulation. ErisX Insights claims that centralized exchanges provide a far more secure way to trade in cryptocurrency than their decentralized counterparts. The company writes , As a centralized exchange, ErisX leverages a matching engine that will prevent front-running and operates a market surveillance program to thwart malfeasance. While market participants on decentralized exchanges may experience the type of market manipulation described [above] , they will not find it on ErisX. To combat sophisticated market manipulation practices, ErisX champions the use of a blend of adaptive tools and an experienced market surveillance team. Eventus tools allow us to deploy the processes necessary to enable these principles while paving the way for the inevitable market maturation and growth that we will see in the future, writes ErisX. By being subjected to regulatory oversight by authorities like the Commodities Futures Trading Commission and the New York Department of Financial Services, ErisX believes its platform holds a security standard that its decentralized counterparts cannot replicate and that only through this path can cryptocurrency finally be rid of unethical practices. For traders curious or doubtful about ErisXs quest for regulation, the company is holding a panel discussion on Sept. 20. Click here to stay informed. This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice. ErisX Futures are offered through Eris Exchange, LLC, a Commodity Futures Trading Commission (CFTC) registered Designated Contract Market (DCM) and Eris Clearing, LLC, a registered Derivatives Clearing Organization (DCO). The CFTC does not have regulatory oversight authority over virtual currency products including spot market trading of virtual currencies. ErisX Spot Market is not licensed, approved or registered with the CFTC and transactions on the ErisX Spot Market are not subject to CFTC rules, regulations or regulatory oversight. ErisX Spot Market may be subject to certain state licensing requirements and operates in NY pursuant to Eris Clearings license to engage in virtual currency business activity by the New York State Department of Financial Services. Contact Details

ErisX Frequently Asked Questions (FAQ)

  • When was ErisX founded?

    ErisX was founded in 2018.

  • Where is ErisX's headquarters?

    ErisX's headquarters is located at 227 West Monroe St., Chicago.

  • What is ErisX's latest funding round?

    ErisX's latest funding round is Acquired.

  • How much did ErisX raise?

    ErisX raised a total of $47.5M.

  • Who are the investors of ErisX?

    Investors of ErisX include Cboe, Nasdaq Ventures, Pantera Capital, Virtu Financial, DRW Venture Capital and 22 more.

  • Who are ErisX's competitors?

    Competitors of ErisX include Polysign, Prometheum, Copper.co, Koibanx, FalconX and 14 more.

  • What products does ErisX offer?

    ErisX's products include BTC Physically Settled Futures and 4 more.

Compare ErisX to Competitors

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Copper.co

Copper operates a crypto custody and prime broking platform for digital assets. Its infrastructure enables institutions to acquire, store, and trade digital assets while its multi-signature safeguarding application allows institutions to have complete certainty that their capital is not at risk of theft, whether it be from hackers or bad players in the industry. The company was founded in 2018 and is based in Zug, Switzerland.

FalconX Logo
FalconX

FalconX is a fully comprehensive digital asset platform that allows institutions to access and manage all of their crypto strategies through a single interface and seamless workflows, making it easy to execute trading, credit and clearing all in one place. FalconX's crypto-as-a-service offering powers leading banks, FinTech institutions and investment applications to easily add crypto to their product offerings with a goal of enabling the next billion users to enter the crypto space. FalconX was founded in 2018 and is based in San Mateo, California.

B2C2 Logo
B2C2

B2C2 provides reliable liquidity for cryptocurrency across market conditions. The company offers a range of OTC products to institutional clients such as spot, derivatives, funding, and structured loans. The company was founded in 2015 and is based in London, England. On December 15, 2020 B2C2 was acquired by SBI Group. The terms of the transaction were not disclosed.

Anchorage Digital Logo
Anchorage Digital

Anchorage is a digital asset custodian engineered to provide security and the benefits of asset accessibility, including capturing yield from staking and inflation, voting, auditing proof of existence, and fast transactions.

SFOX Logo
SFOX

SFOX, short for the San Francisco Open Exchange, is a cryptocurrency prime dealer for large-scale investors.

Metaco Logo
Metaco

Metaco is a blockchain and cryptocurrency specialist firm that integrates into a bank's core processes. Its flagship product SILO is a complete cryptocurrency wallet-management system for the financial sector, offering custody and the ability to process transactions protected by military-grade security.

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