FTX US Derivatives announces board: Execs from DTCC, Robinhood, Baton, and more

Rick Steves

“We have worked closely with regulators to establish FTX US Derivatives as the premier regulated crypto derivatives trading platform, and I am looking forward to continuing this journey.”

FTX US Derivatives has announced its members of the Board of Directors, chaired by Larry E. Thompson, who will be joined by professionals from the traditional finance, crypto, and regulatory landscapes.

The FTX US Derivatives board features executives from DTCC, Avanti, Grapefruit Trading, Baton Systems, Robinhood, and SIG.

The digital asset futures and options exchange and clearinghouse regulated by the Commodity Futures Trading Commission (CFTC), formerly known as LedgerX, is a pioneer in bitcoin mini contracts in the US.

Its offerings include physical settlement of all contracts, block trading and algorithmic trading opportunities for institutional investors, and direct access for all traders.

FTX agreed to acquire LedgerX in September 2021 in order to create new products that meet the needs of both retail and institutional traders and develop a strong working relationship with the US regulatory community, specifically with the CFTC. The crypto exchange operator later rebranded LedgerX to FTX US Derivatives.

FTX US Derivatives ‍is a Designated Contract Market (DCM), Derivatives Clearing Organization (DCO), and a Swap Execution Facility (SEF).

“The premier regulated crypto derivatives trading platform”

The Board will be instrumental in devising and implementing the long-term growth strategy of FTX US Derivatives as the crypto space consolidates and competition becomes fierce.

Larry E. Thompson, Chairman of the Board for FTX US Derivatives, commented: “It is an honor to be named as Chairman of the Board for FTX US Derivatives and to be a part of one of the fastest-growing and most influential crypto exchanges in the U.S. Throughout my career, I have come to understand the importance of working alongside regulators to ensure that investors are protected while still being able to take full advantage of the markets and FTX US Derivatives does just that. We have worked closely with regulators to establish FTX US Derivatives as the premier regulated crypto derivatives trading platform, and I am looking forward to continuing this journey.”

Alongside Mr. Thompson, the members of the Board of Directors are:

Keisha Bell, Managing Director, Head of Diverse Talent Management and Advancement, DTCC
Bryan Bishop, CTO at Avanti Financial Group
Zach Dexter, CEO of FTX US Derivatives
Joe Keefer, Trader at Grapefruit Trading
Jerome Kemp, President of Baton Systems
Lucas Moskowitz, Vice President and Deputy General Counsel at Robinhood
Bart Smith, Global Head of Strategy for Digital Assets for the Susquehanna International Group of Companies (“SIG”)
Mark Wetjen, Head of Policy and Regulatory Strategy at FTX US

Execs from FTX, DTCC, Baton, Robinhood, and more

Zach Dexter, CEO of FTX US Derivatives, said: “I am excited to work alongside the other board members and coordinate on how we can provide the best value to our users and advance the crypto derivatives trading marketplace. The Board of Directors brings together a group of professionals whose cumulative experience spans the entire financial ecosystem and the complex regulatory environment. We have the resources needed to guide FTX US Derivatives through the ever-evolving digital asset landscape, all while working alongside government regulators to provide our dedicated users and investors with additional value.”

Larry E. Thompson was the Chairman of the Board for LedgerX, which was acquired by FTX US and became FTX US Derivatives in October of 2021. He is an industry veteran with major roles at DTCC, including Vice Chairman.

Joe Keefer is a trader at Grapefruit Trading, managing a variety of proprietary cryptocurrency trading strategies, including spot and derivatives trading.

Jerome Kemp is the President of Baton Systems. Prior to that, he worked at Citi as global head of futures and clearing building out the OTC clearing platform.

Bryan Bishop is the CTO of Avanti, building a modern, digital bank that can process both dollars and Bitcoin. In the past, he has integrated Bitcoin with the $600 trillion derivatives market, culminating in a Swap Execution Facility (SEF) and Derivatives Clearing Organization (DCO) awaiting regulatory approval by the CFTC.

Bart Smith is Global Head of Strategy for Digital Assets for the Susquehanna International Group of Companies (“SIG”), where he is responsible for the FICC, ETF and Portfolio Trading Groups at SIG.

Keisha Bell is responsible for recruiting and retaining the best diverse talent and developing DTCC’s next generation of leaders.

Zach Dexter is the CEO of FTX US Derivatives, maintaining his position after LedgerX was acquired by FTX US in October 2021.

Lucas Moskowitz is Vice President and Deputy General Counsel for Robinhood and oversees regulatory, litigation, and government affairs.

Mark Wetjen is the Head of Policy and Regulatory Strategy at FTX US and is responsible for the firm’s communications with U.S. regulatory and legislative bodies, such as the CFTC, SEC and various House and Senate Committees.

 

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