Bitnomial Exchange, an authorized contract marketplace (DCM), has officially notified the Commodity Futures Trading Commission (CFTC) of its certification for the launch of XRP US Dollar Futures.
The new contracts, known as XRP US Dollar Futures (XUS), are scheduled to begin trading on August 13, 2024.
XUS contracts will be physically settled and margin-based, reflecting the price of 100,000 XRP.
Self-certification for the launch of XRP US Dollar Futures means that Bitnomial Exchange has notified the Commodity Futures Trading Commission (CFTC) that it has independently reviewed and ensured that new futures contracts comply with all applicable regulations and standards. This process allows the exchange to offer new products without needing to seek prior approval from the CFTC.
By doing its own certification, Bitnomial claims that its XRP US Dollar Futures contracts meet the legal and regulatory requirements necessary for trading.
*This is not investment advice.