July 1, 2019

CFTC Grants DCO Registration to Eris Clearing, LLC

Washington, DC —The Commodity Futures Trading Commission (CFTC or Commission) announced today that the Commission voted unanimously to issue an order granting Eris Clearing, LLC (Eris) registration as a derivatives clearing organization (DCO) under the Commodity Exchange Act (CEA).

Under the DCO order, Eris will be authorized to provide clearing services for fully-collateralized virtual currency futures.  Eris’ indirect parent company, Eris Exchange, LLC, is registered with the CFTC as a designated contract market.

The terms and conditions of the order require, among other things, that Eris comply with applicable provisions of the CEA, including the core principles in Section 5b of the CEA and with CFTC regulations.  Eris also must fulfill each of the representations it has made to the Commission relating to compliance with the core principles and CFTC regulations.

In response to a request from Eris, the CFTC’s Division of Clearing and Risk also today issued a letter granting Eris no-action relief from complying with certain CFTC regulations due to Eris’ fully-collateralized clearing model.