Of late, we have witnessed constructive developments in the cryptocurrency derivatives market, CME has come up with the Bitcoin futures which are cash settled and options marketplace. Various OTC players like Binance, BitMEX & OKEx, are also well equipped in crypto-derivatives markets with newly designed crypto-derivatives products including perpetual swaps.

On the back of such constructive developments among crypto-space, such exchanges are getting conducive regulatory frameworks to trade BTC derivatives.

The latest development is that the United States Commodity Futures Trading Commission (US-CFTC) designates ‘Bitnomial Exchange, LLC’ which is Chicago-based company, as a derivatives contract marketplace.

Yesterday, in a press release, CFTC announced that it has issued an ‘Order of Designation’ to Bitnomial Exchange, LLC located in Chicago, Ill., granting it status as a ‘designated contract market (DCM)’, effective today.

Bitnomial Exchange is recognized as a company with limited liability, formed under Delaware states law. Thereby, Bitnomial Exchange is the latest player to race up in this segment of crypto-derivatives. From here onwards, they play their role of counterpart of Bakkt, CME, LegerX, and CBOE and few other companies who deal in to the crypto derivatives.