TD Ameritrade has declared that it is supporting ErisX, a new cryptocurrency exchange built by Eris Exchange LLC.
According to a recent press release by the brokerage firm, the company has made a “strategic investment” into the new exchange.
Steve Quirk, executive vice president of Trading & Education at TD Ameritrade commented on the deal. He said that the partnership is owing to the fact that the company’s clients are looking to transact and invest in cryptocurrency in the same was as with traditional market. He said:
“That’s precisely why we chose to invest in ErisX – to make digital currency products more accessible to retail clients.”
Ameritrade’s managing director of the Futures & Forex department JB Mackenzie is excited about the new endeavor with the new exchange. He said of the investment that they “look forward to working with the team at ErisX as they develop and launch digital currency products designed to fulfill the needs of retail investors. ErisX’s plan is to offer traders access to cryptocurrency spot contracts as well as futures contracts on a single exchange.”
TD Ameritrade gave no details of the deal, but Bloomberg reported with insight on the matter. According to the report, investment firm DRW Holdings and trading company Virtu Financial are also invested in ErisX:
“DRW and Virtu already owned stakes in Eris, while retail brokerage TD Ameritrade is investing as part of the crypto initiative. DRW, whose Cumberland division is one of the world’s biggest crypto traders, and Virtu have agreed to be market makers on ErisX, which could help ensure a deep order book.”
Finally, Thomas Chippas the CEO of ErisX also weighed in on the new partnership. He said that TD Ameritrade is an “innovative, forward-thinking firm”. According to the CEO, ErisX is “thrilled” to partner with the company in order to “deliver their clients access to the secure and transparent ErisX digital asset market.”