Balance and trading activity can be viewed by logging into your account HERE.
Balance and trading activity can be viewed by logging into your account HERE.
Eris Clearing LLC is the entity in the ErisX “family” responsible for holding both fiat currency and digital currency.
We use a 4:00PM Central time reference price to value a member’s account.
Currently, funds held within Eris Clearing LLC do not pay interest.
ErisX does not currently charge a fee for balances held in a member’s account.
Please see our listing policy HERE
At this time ErisX is listing BTC, BCH, ETH, and LTC. Any future digital currency listings will be announced publicly.
DEXes (decentralized exchanges) come with trade-offs that may be appropriate in certain use cases. We believe that centralized exchanges play a key role in generating price discovery and liquidity for digital assets and are essential to growing the ecosystem.
A fully funded spot contract means that purchasers must have funds in their clearing account sufficiently to cover the cost of the purchase before the purchase may be executed. Conversely, sellers must have sufficient digital currency in their clearing account before a sale transaction may be executed.
ErisX spot contracts are fully funded, therefore shorting is not currently possible.
At the time of expiration of the contract, settlement will be made by movement of the digital currency to the buyer of the futures contract and US dollars to the seller of the contract.
At the time of entering into a contract, the seller of the contract must post to the clearinghouse the entire amount of the digital currency being sold and the buyer of the contract must post the equivalent amount of US dollars. Accordingly, there is no daily transfers of funds or call for variation margin.
ErisX futures contracts are physically settled and expire at 10am CT on the given expiry day. The settlement process will run between 10am and 12pm (2 hours) on the same day. The final settlement price for each open position will be the same as the original trade price. Member account balances will be updated during this delivery process based upon their positions.
On a daily basis the exchange will set a closing price which will be used to value open positions.
As an intermediary-friendly exchange we have geared our processes to work with a variety of institutions, many of which will work with retail customers directly. The current requirement for a Direct Member is minimum balance of $10,000. This will allow us to meet the expectations of all of our market participants.
Both.
ErisX recognizes that market values may cause the value of your digital currency holdings to fluctuate. Should your account go below the $10,000 minimum you may be contacted by our operations team and asked to bring the value back to $10,000. Remember, all your purchases and sales of spot digital currency are fully funded in advance on ErisX, so there is no “margin call” from ErisX for you to meet, only the need to maintain the minimum account value.
Eris Clearing LLC (the entity in the ErisX “family” responsible for holding fiat and digital currency) is connected to the US banking system allowing for interaction with any other bank capable of sending and receiving wire transfer. This simplifies the process of transmitting fiat currency to and from ErisX.
At present ErisX only supports funding your account with USD or the Digital Assets that we have listed (BTC, BCH, ETH, LTC).
Our approach to handling digital currency is similar to our approach to handling fiat currency in that we maintain multiple wallets in the name of Eris Clearing. Eris Clearing in turn maintains detailed records for each member such that in real time we know the available fiat and digital currency balance for each member. As an entity with a track record of regulatory compliance and transparency we are subjected to high standards of review and believe we have implemented a model that enables us to safely and securely hold customer assets without sacrificing efficiency and utility.
Fiat currency moves in and out of Eris Clearing LLC through the US banking system. ErisX monitors our bank accounts actively throughout the day and update member accounts once a wire transfer is received and confirmed. ErisX processes withdrawal requests of USD every hour subject to the fiat currency hours noted on our website.
For a Direct Member, if you have all necessary information for the KYC/AML process ready to go, sign-up can take place in minutes!
As a Direct Member we will ask you to upload a copy of your identification and provide your tax id number (SSN). A legal entity requires more documentation. If you wish to sign up as an entity please contact our sales team.
Yes. ErisX is regulated by FinCen (amongst others) which requires us to enforce AML and KYC standards which can be found HERE.
Please contact our sales team via email at [email protected].
Click the Sign Up link at the top of the page and fill out our questionnaire to receive an invitation code.
ErisX provides a white labeled version of CQG Desktop at no additional charge. Alternatively, members may connect via our FIX gateways.
ErisX is committed to providing a 24×7 market. Shortly after our public launch we will provide additional information regarding our market hours.
Please see information on block trading HERE.
Eris Clearing LLC is not providing any leverage at this time.
We do not plan to connect to other market centers at this time.
The Contracts will be cleared by Eris Clearing, which is a CFTC registered derivatives clearing organization.
Yes. You must either be a member of the clearinghouse to clear your own trades or have an account with a CFTC registered futures commission merchant (FCM) that is a clearing member of the clearinghouse.
Yes. As noted above, all futures contracts are fully funded and coin is posted as collateral when selling futures contracts.
ErisX adheres to industry standards of information security to ensure the safety and integrity of your information. We monitor our operations 24×7 for any attempts at intrusion and have multiple security measures in place to protect customer fiat and digital assets.
ErisX support staff can be reached at +1 888 782 7481 and by selecting the appropriate team.
Contact [email protected] for help with funding or general questions about your clearing account.
Contact [email protected] for help with the ErisX Trading Platform, trade queries or to register a Block trade.
