Key Facts

  • The CFTC approved the registration of tZERO DCM as a designated contract market, authorizing it to operate a regulated derivatives exchange, tZERO said.

  • The approval follows the CFTC's Oct. 16 registration of tZERO DCO as a derivatives clearing organization, giving tZERO both exchange and clearing registrations, tZERO said.

  • tZERO said the two approvals satisfy the first earn-out milestone under its Oct. 31 merger agreement with SPAC FG Imperii Acquisition Corp.

The CFTC approved the registration of tZERO DCM as a designated contract market, authorizing it to operate a regulated derivatives exchange, tZERO said.

The approval follows the CFTC's Oct. 16 registration of tZERO DCO as a derivatives clearing organization, giving tZERO both exchange and clearing registrations, tZERO said.

tZERO said the two approvals satisfy the first earn-out milestone under its Oct. 31 merger agreement with SPAC FG Imperii Acquisition Corp.

tZERO said the Commodity Futures Trading Commission approved its subsidiary tZERO DCM as a designated contract market, authorizing it to operate a regulated derivatives exchange.

The approval, announced on Wednesday, follows the CFTC's Oct. 16 registration of tZERO DCO as a derivatives clearing organization, giving tZERO both exchange and clearing registrations, the company said.

SPAC Earn-Out Milestone

A Derivatives Business

"Most holders of these capabilities use them to support their own books of business," Konevsky said, adding that tZERO aims to offer them as an independent service. The new business adds to tZERO's broker-dealer, alternative trading system, digital asset securities custody, transfer agency, and clearing and settlement services.