tZERO Approved by the CFTC to Operate a Regulated Derivatives Exchange

ChainCatcher report: tZERO Group, a provider of financial market infrastructure, announced that the U.S. Commodity Futures Trading Commission (CFTC) has approved its wholly owned subsidiary, tZERO DCM, LLC, to register as a Designated Contract Market (DCM), authorizing it to operate a regulated derivatives exchange. Previously, on October 16, the CFTC approved tZERO DCO, LLC’s registration as a Derivatives Clearing Organization (DCO). tZERO can now support derivatives trading and clearing through its regulated entities. Both registrations will be integrated into tZERO’s Infrastructure-as-a-Service (IaaS) business to enable the development of trading and clearing services for financial institutions and other market participants. Pursuant to the merger agreement signed by tZERO and FG Imperii Acquisition Corp. on October 31, the approval of both the DCM and DCO constitutes the fulfillment of the first contingent consideration milestone, which has now been achieved. tZERO’s existing regulated securities infrastructure includes broker-dealer services, alternative trading systems, digital asset securities custody, transfer agency, and clearing and settlement services.