LedgerX offers a platform for the trading and clearing of physically-settled put and call options and day-ahead swaps (see our Compliance page for full contract specifications). Participants will be able to connect through the API or execute trades on the web trading interface.


LEDGERX PARTICIPANT CRITERIA

In order to participate on the LedgerX platform at launch, a participant must, among other things, satisfy the following minimum threshold criteria:

  1. verify that it is an “eligible contract participant” as defined in section 1a(18) of the Commodity Exchange Act (the “CEA”);
  2. be a US/Singapore entity/individual or wholly owned by a US entity/individual;
  3. have a valid legal entity identifier;  and
  4. if an entity, have two representatives for authorization purposes.

There are a number of ways that an entity can qualify as an “eligible contract participant” for purposes of the CEA. Some of the more common are:

  • an entity that has a net worth exceeding $1,000,000 that is hedging risk; or,
  • an entity that has total assets exceeding $10,000,000; or,
  • an entity that is a “swap dealer” as defined in section 1a(49) of the CEA and CFTC Regulation 1.3(ggg); or,
  • an entity that is a “major swap participant” as defined in section 1a(33) of the CEA and CFTC Regulation 1.3(hhh); or,
  • an entity that is a “financial institution” as defined in section 1a(21) of the CEA

An individual can qualify as an “eligible contract participant” for purposes of the CEA.
These ways include:

  • an individual that has amounts invested on a discretionary basis of at least $10,000,000; or,
  • an individual that has amounts invested on a discretionary basis of at least $5,000,000 that is hedging risk

Please check with your own advisers to determine whether you qualify as an eligible contract participant before contacting LedgerX.


NEXT STEPS

If you meet the minimum threshold criteria set forth above, sign up here.

Any questions? Email sales@ledgerx.com and a LedgerX representative will contact you.