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HomeLaw & PoliticsCFTC gives more time for requests of FTX US Derivatives amendments

CFTC gives more time for requests of FTX US Derivatives amendments

The CFTC has extended the public comment period on FTX US Derivatives’ (formerly LedgerX) requests to amend its registration attempts to sell derivatives services.

FTX US, the American branch of the global crypto exchange, purchased Ledger Holdings, the parent company of LedgerX, a regulated digital asset derivatives platform, in late 2021. The acquisition of LedgerX allowed FTX US to take use of the latter’s Derivatives Clearing Organization (DCO) licence, which corresponded with the company’s ambitions to launch crypto derivatives services in the United States.

Shortly after, the exchange requested authorization from the CFTC for its somewhat unique advice on how to provide derivatives services, which it planned to consolidate with its spot trading platform. The Commission launched a 30-day public comment period in early March, allowing the public to weigh in on the matter.

FTX US, on the other hand, requested and secured a time extension, which the CFTC approved on March 24. As a result, the public now has until May 11 to provide feedback.

The CFTC stated the following:

“FTX now offers fully collateralized futures and options on futures contracts to retail players (non-intermediated model). In its request for an amended order of registration, FTX proposes clearing margin products for retail participants while keeping its non-intermediated approach.”

Read more: FTX acquires Good Luck Games

Kunal Krishan
Kunal is an investment space writer who firmly believes investment is something which should not be a choice but a part of everyone's life.
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