TeraExchange Reinstated as Swap Execution Facility by CFTC Order
The regulatory body deemed the exchange dormant because it had no trading activity in the three years following its registration with the CFTC.
TeraExchange LLC, a wholly owned subsidiary of Tera Group Inc., was reinstated as a swap execution facility through a Commodity Futures Trading Commission (CFTC) order on Monday.
- According to the press release posted on the CFTC website, TeraExchange was deemed dormant by the regulator in 2019 after it saw no trading activity in the three years following registration.
- An early entrant into the bitcoin derivatives market, TeraExchange had been granted a full registration to offer a bitcoin forwards contract and run a bitcoin price index in May 2016.
- According to the CFTC’s release on Monday, there are currently 19 swap execution facilities registered with the regulatory body, including the newly reinstated TerraExchange’s.
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