Cboe Digital

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Cboe Digital
Key People John Palmer, President

Cboe Digital is a subsidiary of Cboe Global Markets that was created when Cboe Global acquired Eris Digital Holdings, LLC (ErisX) on May 2, 2022, giving it an entry point to digital asset spot and derivatives markets, as well as clearing and settlement.[1]

Cboe said it would operate the ErisX digital asset business as a subsidiary called Cboe Digital, with Thomas Chippas, CEO of ErisX, remaining as head of the digital asset business. Cboe also said it would leverage digital asset data from ErisX to develop and distribute digital asset indices for potential use in ETP creation and other derivative products.[2]

Cboe Digital’s clearing arm, Cboe Clear Digital, is a traditionally structured central counterparty for clearing and settlement.

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In August 2022 Cboe said it was in discussions with several potential equity partners, including retail brokers and market makers, about taking strategic stakes in ErisX/Cboe Digital. Cboe said it planned to form a Digital Advisory Committee that includes the equity partners, which would advise the firm on the development of ErisX spot and derivatives markets and the Cboe Digital business.[3]

On June 6, 2023, Cboe Digital received CFTC approval to launch margin futures on Bitcoin and Ether. Cboe Digital was the first U.S. regulated crypto native exchange and clearinghouse combination platform to offer leveraged derivatives products.[4]

In August 2023, the digital asset technology firm Crossover Markets Group said it was collaborating with Cboe Digital to offer a clearing solution for trades across digital asset execution platforms, using its flagship product, CROSSx. Crossx is the first external technology venue to provide connectivity to Cboe Digital.[5]


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