The US regulatory authority, Commodity Futures Trading Commission (CFTC) is extending deadlines for the public comment on a request from FTX US Derivatives (FTX) to amend its order as a derivatives clearing organization (DCO).
FTX US Derivatives was formerly known as LedgerX, which rebranded after FTX US acquired LedgerX Holdings, which is the parent company of LedgerX and regulated digital asset derivatives platform.
Currently, FTX US plans to launch a crypto derivative service in the US. LedgerX acquisition enabled it to leverage the latter’s Derivatives Clearing Organization (DCO) license.
In the request for an amended order for registration, FTX asked to provide derivative services, as the firm wanted to merge it with its spot trading platform.
At the beginning of March, CFTC set up the 30 days comment period for the Public comment on FTX US Derivatives request. But, now the CFTC extended the comment period till May 11. Public can submit on or before this deadline.
“FTX currently offers clearing of futures and options on futures contracts on a fully collateralized basis directly to retail participants (non-intermediated model). In its request for an amended order of registration, FTX proposes to clear margined products for retail participants while continuing with a non-intermediated model.” – reads CFTC’s statement.
