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.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.