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Ian Grieves, the managing director of ErisX, has recently talked with Finance Magnets and revealed the plans that the company has for 2019 and explained that main differences that the company has from Bakkt, the crypto exchange that is being created by the Intercontinental Exchange (ICE).
Grieves also works as the head of product in the company and he has affirmed that the market is slowly transforming from a speculative wild west market populated by retail investors to a largely regulated trading place that caters for institutional investors. Now, as more institutional investors are entering this market, it is expanding to become something more.
The director started his career as an Options Market Maker and Index Arbitrage at the LIFFE Exchange. He then worked in many other positions until he got the position of Managing Director of the Americas for Object Trading. Now, he works at ErisX and he believes that the market practices of the company mirror the best ones of the derivatives space.
ErisX Plans for 2019
According to him, ErisX will be one of the companies that will lead the way in the development of a more stable, transparent and scalable economy for retail traders. He also tells that they will be first exchange to provide spot and futures contracts at the same platform in 2019 and that they want to create a space with better liquidity and a healthier price discovery environment for the investors so they can build a diversified portfolio.
The idea is to be able to create a marketplace that will be robust, secure and regulated and that will be perfectly adjusted to serve both individual and institutional participants.
During 2019, the company will launch several new projects like futures markets for Bitcoin, Bitcoin Cash, Ethereum and Litecoin. However, they are subject to regulatory approval before they can actually become a reality.
The company is working with TD Ameritrade and other companies to provide their clients with more comfort when they are trading, too.
According to Grieves, the exchange plans on approaching the crypto market in a very multi-faceted way. Their approach, they affirm, is not only about providing a regulated and robust marketplace for the clients but much more than that. The company also wants to expand the universe of participants and to be the “missing link” between the crypto space and investors.
Basically, they want to be a broker. While many crypto companies boast about how decentralization is good, the truth is that many investors are simply more interested in having people solving stuff for them that actually have all the responsibility that decentralization brings to them. This, he believes, will differentiate the company from Bakkt and other similar platforms.
The managing director of TD Ameritrade, J. B. Mackenzie, has affirmed this year that the company will open up additional crypto products on future and spot trading and that the clients could potentially benefit from the trade. ErisX will collaborate with the company to offer these trading instruments for its clients.
According to it, it will also look at the launch of the products launched by other companies to be always understanding the market and following all the trends, as well as using standard regulatory review process.
Another important point is that the company will provide physically delivered futures contracts instead of only digital ones. The company affirms that this can be a solution for more granular contracts sizes and expires and that they will provide a better service for the clients.
The Institutional Investors
It is no secret that most of the companies are looking at the institutional investors. They represent the big money and having a handful of them can be more profitable than having a lot of retail investors instead.
ErisX seems like it will follow the trend and the company is already talking to the regulators in the United States to launch products that will be aimed at this market, however, without forgetting their retail base.
At the moment, the company is expecting to start onboarding spot clients for a Q2 launch and to work together with the investors to incorporate new products and use better technology.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.