ErisX has introduced a new application programming interface (API) to advance over-the-counter crypto trading, making the workflow more familiar to capital markets professionals.
The move is designed to bring cryptocurrencies to a wider swath of institutional traders by enhancing bulk trading practices.
According to the announcement,
“Registered market participants will be able to submit pre-negotiated block trades to Eris Exchange through our REST based API, or our Trading Interface, which after automated review, will be settled and cleared at Eris Clearing.
This removes the headaches of OTC escrow based workflows and eliminates Counterparty Settlement risk.”
The Chicago-based crypto derivatives exchange trades leading cryptocurrencies Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH) and Litecoin (LTC).
The new API will facilitate spot and futures traders who make high-volume transactions of at least 10 BTC, currently valued at $87.7K; 100 ETH valued at $19.9K; 100 BCH valued at $26.2K, or 250 LTC valued at $10.5K.
Last month the New York State Department of Financial Services (NYDFS) has granted its first BitLicense of the year to ErisX.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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