Cboe names Interactive Brokers, Robinhood, tastytrade, among potential equity partners in crypto business

Rick Steves

Besides the crypto spot and futures exchange and clearinghouse by ErisX, Cboe Digital plans to develop a benchmark data stream to help market participants evaluate the appropriateness of crypto execution prices.

Cboe has announced a number of leading retail and institutional intermediaries, liquidity providers and brokers that may become equity partners in the Cboe Digital business, which includes the recently acquired ErisX, a regulated crypto spot and futures exchange and clearinghouse.

Among these firms are B2C2, DRW, GSR, Hidden Road, IMC, Interactive Brokers, Jane Street, Jump Crypto, Optiver, Robinhood, tastytrade and Virtu Financial.

Cboe welcomes their participation as commercial partner firms committed to development of ErisX and Cboe Digital markets in exchange for a minority stake in the business.

Future equity partners would also form a Digital Advisory Committee tasked with collaborating with Cboe on client-driven solutions to help increase adoption of digital assets and further mature the market.

Cboe Digital equity partners will form Digital Advisory Committee

As part of its operation of ErisX and the Cboe Digital business, Cboe plans to form a Digital Advisory Committee comprised of a cross-section of equity and commercial partner firms. The committee will be tasked with advising Cboe on the ongoing development of the ErisX spot and derivatives markets, and more broadly, Cboe Digital and the digital asset space. Cboe plans to leverage the engagement and collaboration with these market participants to help accelerate growth of ErisX as a resilient, trusted and transparent digital asset venue.

Ed Tilly, Chairman and Chief Executive Officer of Cboe Global Markets, said: “ErisX was founded with the mission of bringing transparent, well-regulated markets for digital assets and we are excited to further accelerate on this vision with growing support from our partner firms. Building trusted markets has always been a part of Cboe’s DNA, and we look forward to leveraging the combined expertise of our partner firms to help bring Cboe’s regulatory framework, transparency, infrastructure and data solutions to further grow the digital asset market on a global scale.”

John Palmer, President of ErisX, commented: “We are gratified to have the support of such a tremendous group of industry leaders, which we believe is further validation of our vision for the Cboe Digital business. Our partner firms share our deep commitment to bringing Cboe’s trusted, transparent, regulatory-first approach to the digital asset space and we are excited to work together as a collective force to shape and define this asset class now, and for the future, to benefit all market participants.”

Cboe completed the acquisition of ErisX on May 2, 2022 as part of its strategy to develop and distribute a range of digital asset data products. The operator of a U.S. based digital asset spot market, a regulated futures exchange and a regulated clearinghouse will soon be renamed Cboe Digital.

Cboe Digital plans to develop a benchmark data stream to help market participants evaluate the appropriateness of crypto execution prices.

Cboe’s cryptocurrency business also announced a number of leading names within the industry as planned commercial partner firms supporting the business: Fidelity Digital AssetsSM, Galaxy Digital, NYDIG and Webull, among others.

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