Cboe Global Markets, Inc. revealed it has signed an agreement to acquire Eris Digital Holdings, LLC (ErisX), a US-based digital asset spot market. Eris is a regulated futures exchange and a regulated clearing house. The acquisition will allow Cboe to enter the digital asset spot and derivatives marketplaces through a digital-first platform.
Founded in 2018, ErisX was designed to focus on regulatory compliance, data and transparency. Its spot and futures exchanges usees real-time market surveillance. Its real-time clearing system is built to address settlement risk while collateral management allows seamless movement of collateral between spot and futures accounts.
The newly acquired digital asset business will be operated as Cboe Digital. The global market infrastructure provider has obtained range of market participants, such as well-established retail brokers, crypto-leading firms and sell-side banks. They are expected to form a Digital Advisory Committee which will advise Cboe on the ongoing development of the Eris spot and derivatives markets. The members of the Digital Advisory Committee include DRW, Fidelity Digital Assets, Galaxy Digital, Interactive Brokers, NYDIG, Paxos, Robinhood, Virtu Financial and Webull. Some of those members will acquire minority ownership interests in Cboe Digital and serve as partners in the growth of the business.
