SBI Group to offer OTC derivatives trading in US after CFTC approval
Japanese financial giant SBI group announced plans to expand its trading countries and services in the US digital asset market. This large bank is focusing on entering the digital asset derivatives trading market in the United States.
The bank said in a notice that clear markets North America Inc. has obtained the approval of the commodity futures trading Federation (CFTC) to give physical settlement of outfield digital asset derivatives. Clear market North American Inc. is the U.S. branch of clear markets (CM) and owns 12% of its shares.
The implementing organization emphasized that this was also the first such approval under the commodity futures trading commission swap enforcement mechanism (SEF) regulations. Clear markets is a real estate developer and operator of electronic trading platform. SBI alpha, the digital asset market maker of SBI group, has made demonstration point transactions on its platform.
In addition, clear markets will operate its OTC digital asset derivatives, give investors USD / BTC stock index options, and plan to expand the commodities provided in the near future. SBI indicated that the approval was a big step forward in the field of digital assets in the United States.
"In the United States, it will take a long time to obtain approval (or fail to obtain approval) for the solution of crypto assets. For us, the CFTC's approval of a new crypto asset derivative is undoubtedly a big step in the latter direction," the Chinese translation of the Japanese announcement reads.
SBI group's corporate vision is to become the next generation financial investment platform in the digital era. In addition to clear markets, it has also invested in several other digital asset enterprises. SBI group owns the equity of sygnum, a digital asset financial institution in Germany and Switzerland, and Taotao and fxcoin, the Japanese trading centers.
CFTC seeks to expand its data control rights
In the context of CFTC's incitement to expand its digital asset control rights, cm was approved. The U.S. futures trading regulatory authority has stipulated due process to give policies and regulations, so that it can play a more central role in the control of digital asset derivatives and digital assets classified as products.
With the two decrees to be passed by the upper house of the United States, the authority of the CFTC will be enhanced if they are based. This agitation has already reaped benefits. The first is the responsible financial reform act proposed by congressmen Cynthia Loomis (r-wy) and bristen auspicious brand (D-NY). Recently, congressmen Debbie stabeno (D-MI) and Robert Bozeman (r-ar) presented the digital goods consumer protection act of 2022.