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. Please take a look at our Bounded futures contracts which do allow USD collateralized short positions.
ErisX supports the Bitcoin Cash ABC blockchain and uses the legacy address format only.
A fully funded futures contract requires the ErisX Clearing House to hold at all times the entire amount of funds required to settle each futures contract. Accordingly, there are no daily transfers of funds or calls for variation margin.
For ErisX Physically Delivered futures, 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.
For ErisX Financially Settled Bounded futures, the seller of the contract must post to the clearinghouse in US Dollars the difference between the upper boundary and the trade price multiplied by the number of contracts and the contract multiplier. The buyer of the contract must post in US Dollars the difference between the lower boundary and the trade price multiplied by the number of contracts and the contract multiplier. See our example.
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.
ErisX physically delivered futures contracts are 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.
Buyer USD: No. of Contracts * Contract Size * Trade Price
Seller BTC: No. of Contracts * Contract Size
ErisX cash settled bounded futures are 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 of a bounded futures contract is calculated in accordance with Eris Exchange Rule 906 however Rule 906(b)(1) will not be applied. Member account balances will be updated during this delivery process based upon their positions.
Buyer USD: No. of Contracts * Contract Multiplier * (Trade Price – Lower)
Seller USD: No. of Contracts * Contract Multiplier * (Upper – Trade Price)
Final settlement price is calculated using an average of the volume weighted average price of executed trades in the Exchange’s spot market during specified periods. If no trade has occurred in the Exchange’s spot market during this period, the Exchange will use the respective TradeBlock Index at the last trading date and time of the contract as an alternative settlement price. See our regulatory filing for full details.
On a daily basis the exchange will set a closing price which will be used to value open positions.
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].
ErisX provides members with white labeled versions of industry leading trading interfaces at no additional charge. By default, we offer a simplified trading interface for our spot market. For members who require more advanced tools, we provide CQG Desktop. Members should contact client services should they wish to upgrade. Alternatively, members may connect via our FIX or WebAPI gateways.
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. The sellers of ErisX Physically delivered futures contracts are required to post the respective coins 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.
