Cboe Digital Settlement Service Successfully Clears First Trade Between Nonco and DV Chain

September 14, 2023
  • Designed to help remove settlement risk for OTC digital asset transactions, Cboe Digital's settlement service facilitates clearing and settlement via Cboe Digital's U.S. regulated, real-time clearinghouse

CHICAGO, Sept. 14, 2023 /PRNewswire/ -- Cboe Digital is pleased to announce it has successfully cleared its first trade from Nonco U.S., a subsidiary of one of the largest over-the-counter (OTC) providers in Latin America, and DV Chain, an affiliate of Chicago-based proprietary trading group DV Trading and provider of world-class cryptocurrency trading and technology, on its new Cboe Digital Settlement Service.   

Designed to help remove settlement risk for OTC digital asset transactions, Cboe Digital's settlement service facilitates clearing and settlement via Cboe Digital's U.S. regulated, real-time clearinghouse.  The offering can be accessed via standardized API or Cboe Digital's fully integrated Trading User interface. 

"We are thrilled to announce that Nonco and DV Chain cleared their first trade using Cboe Digital.  Our first trade, facilitated by Cboe Digital's settlement service, is a significant milestone for Nonco as the industry evolves, matures and starts to understand the importance of counterparty risk," said Jeff Howard, Managing Director at Nonco. "Nonco was built with this in mind.  We give clients the optionality to settle trades how and where they want, mitigating their counter-party risk.  This is an important step forward for the industry as central clearing and counter-party risk become more important than ever. As the industry evolves, so does Nonco."

"Cboe Digital's settlement service unifies clearing and settlement across multiple execution pathways driving capital and operational efficiencies for firms choosing to clear and settle with Cboe Digital," said John Palmer, President of Cboe Digital.  "We are pleased to provide Nonco markets with an efficient and effective solution for clearing and settlement."

"The experience DV Chain has had with Cboe Digital has been exceptional.  Beyond how smoothly this recent OTC trade process went, what I appreciate most about trading at Cboe Digital is that by introducing clearing, counterparty risk is mitigated via the clearinghouse," said Dave Vizsolyi, Head Trader at DV Chain.

About Cboe Global Markets, Inc.

Cboe Global Markets (Cboe: CBOE), a leading provider of market infrastructure and tradable products, delivers cutting-edge trading, clearing and investment solutions to market participants around the world. The company is committed to operating a trusted, inclusive global marketplace, providing leading products, technology and data solutions that enable participants to define a sustainable financial future. Cboe provides trading solutions and products in multiple asset classes, including equities, derivatives, FX, and digital assets, across North America, Europe and Asia Pacific. To learn more, visit www.cboe.com.

About Cboe Digital

Cboe Digital offers individuals and institutions a single, innovative platform to access crypto spot and futures markets. By combining professional tools, advanced technology, sophisticated regulatory oversight, and a diverse product set, Cboe Digital offers compliant, capital markets friendly workflows to digital market participants. Backed by some of the world's largest trading firms and financial institutions, Cboe Digital brings transparency and reliability to the digital asset class. 

Cboe Digital Futures are offered through Cboe Digital Exchange, LLC, a CFTC registered DCM and Cboe Clear Digital, LLC, a CFTC registered DCO. The CFTC does not have regulatory oversight authority over virtual currency products including spot market trading of virtual currencies. Cboe Digital's Spot Market is not licensed, approved or registered with the CFTC and transactions on the Cboe Digital's Spot Market are not subject to CFTC rules, regulations or regulatory oversight. Cboe Digital's Spot Market is subject to certain state licensing requirements and operates in NY pursuant to Cboe Clear Digital's license to engage in virtual currency business activity by the New York State Department of Financial Services. Cboe Digital and the Cboe Digital logo are trademarks of the Cboe Global Markets Group of companies. To learn more, visit www.cboedigital.com.

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SOURCE Cboe Global Markets, Inc.