On November 6, Anchorage Digital filed an application with the CFTC to register as a swap dealer. The applicant is Anchorage Digital Swap Dealer, LLC. The application is being processed through the NFA and is still under review. If approved, the firm plans to offer $BTC and $ETH options, with terms of up to one year.
A swap dealer license is not the same as an exchange license: with it, Anchorage would take the other side of trades itself, handling orders for institutions and bearing the risk. It would earn money from market-making and capital usage, not matching fees. The one-year term is aimed at institutional hedging needs, not short-term retail trading.
Compared with applying to establish another regulated exchange, this path is better suited to institutions, but the risk would sit on Anchorage’s own balance sheet. Next, watch for the NFA’s review outcome and, if approved, the announced margin and clearing arrangements.
#Anchorage #加密期权 #CFTC regulation
A swap dealer license is not the same as an exchange license: with it, Anchorage would take the other side of trades itself, handling orders for institutions and bearing the risk. It would earn money from market-making and capital usage, not matching fees. The one-year term is aimed at institutional hedging needs, not short-term retail trading.
Compared with applying to establish another regulated exchange, this path is better suited to institutions, but the risk would sit on Anchorage’s own balance sheet. Next, watch for the NFA’s review outcome and, if approved, the announced margin and clearing arrangements.
#Anchorage #加密期权 #CFTC regulation