ErisX Addresses OTC Trading with Enhanced Block Trading Capabilities

Cboe Digital Insights
3 min readMay 26, 2020


ErisX is committed to being the leader in the Spot and Futures markets for cryptocurrencies. We are excited to announce that our Block trading facility can now be accessed through our new REST API. Block trading is available on all the Exchange’s listed spot and regulated-futures products.

Members enjoy:

  • Competitive Pricing
  • Expanded Universe of Counterparties
  • Simplified Operations
  • Bi-lateral Counterparty Risk Eliminated

ErisX is implementing a workflow that is familiar to capital markets professionals and improves upon crypto OTC practices.

Registered market participants will be able to submit pre-negotiated block trades to Eris Exchange through our REST based API, or our Trading Interface, which after automated review, will be settled and cleared at Eris Clearing. This removes the headaches of OTC escrow based workflows and eliminates Counterparty Settlement risk.

Key process points:

  • Registered Members of our Clearinghouse enter two-sided block trades via our Trading Interface or REST API into the exchange.
  • ErisX verifies credit for both parties and submits the trade to the ErisX clearing system for processing.
  • Accepted block trades generate Trade Capture Reports on our realtime Drop Copy (STP) API.
  • Completed block trades are immediately cleared and visible in the ErisX Member Portal and via the REST API

Tradable Products

ErisX enables its Clearing Members to register Spot and Futures market block trades in accordance with our Exchange Rule Set.

ErisX Block Trading

  • Is permitted with any registered Clearing Member on ErisX. As new Members onboard with ErisX, block trading capabilities become available. There is no need to negotiate a new stand-alone trading agreement.
  • Exchange Regulation requires Members to pre-fund their accounts at the Clearinghouse which eliminates counterparty concerns and ensures a streamlined, quick and efficient settlement process.

Eris Clearing

Eris Clearing operates in accordance with a CFTC Exchange regulated rulebook and employs an extensive KYC/AML program. A special chapter of the rulebook also applies to our spot market, which is not Federally regulated.

ErisX has built a futures clearinghouse that advances institutional involvement in the digital asset space by including the following functionality;

  • Multiple accounts and sub-accounts for clearing members;
  • Account activity via Clearing API, in CSV on-demand via member portal and end of day reports via secure file transfer;
  • Daily and monthly statements to stay compliant with U.S. federal and state-level regulations;
  • Internal procedures related to the withdrawals of assets to minimize errors and provide additional protection.

ErisX combines best practices in encryption, technology, operational processes, policies and physical storage to ensure the protection of customer assets.


ErisX is thrilled to introduce the ability to submit block trades through our new REST based API, in addition to the Central Limit Order Book functionality. Clearing Members can negotiate, submit and process block trades leveraging ErisX’s REST API endpoints or alternatively through our web-based trading front-end. For more information about block trading, please email



Cboe Digital Insights

Improving the digital asset trading and investing experience.