LedgerX

Capital Markets · Trading
LedgerX header

LedgerX

Capital Markets · Trading

Blockchain exchange and clearinghouse platform

United States, New York City
$32M
Total amount raised
2013
Year of establishment
Active
Status

About

Hi we’re LedgerX!


LedgerX is a US-regulated trading platform for physically-settled digital currency derivatives.

LedgerX is the first federally regulated exchange and clearinghouse to list and clear fully-collateralized, physically-settled bitcoin swaps and options for the institutional market. The U.S. Commodity Futures Trading Commission (CFTC), which regulates virtual currency derivatives, oversees LedgerX's registration as a swap execution facility (SEF) and derivatives clearing organization (DCO).

The LedgerX management team comprises Goldman Sachs, MIT, and CFTC alumni, who bring financial expertise, technical talent and regulatory experience to the firm. Ananda Radhakrishnan, former Director of the CFTC’s Division of Clearing and Risk and current Vice President of the Center for Bank Derivatives Policy at American Bankers Association, and Carl Mahler, Partner at Gelber Group, currently sit on the LedgerX Board of Directors. Mark Wetjen, Managing Director at Depository Trust & Clearing Corp (DTCC) and former Commissioner of the CFTC, currently sits on the board of directors of Ledger Holdings Inc., the parent company of LedgerX.

On May 22, 2017, Ledger Holdings Inc. announced the closing of $11.4 Million in Series B financing led by Miami International Holdings Inc. and Huiyin Blockchain Venture Investments. Early investors include Google Ventures and Lightspeed Venture Partners.

Slogan / Motto

Trade Bitcoin Spot, Options, and Futures All on one platform

Use cases

Centralized Exchanges
Derivatives
Exchanges / Secondary Markets

Team

Team members

Paul Chou Chief Executive Officer, Co-Founder

Responsibilities

Paul L. Chou is an experienced securities trader, software engineer and financial entrepreneur. Paul was formerly a trader on the Quantitative Cash Trading desk within the Securities Division of Goldman Sachs, where he was responsible for the development, trading and risk management of algorithmic equity trading strategies for U.S. and Japanese markets.Paul received a B.S. in Computer Science and a B.S. in Mathematics from the Massachusetts Institute of Technology. While at MIT, he worked in the Laboratory for Financial Engineering to develop models of market participant behavior in limit order books given the introduction of stochastic, asymmetric information.In January 2016, Paul was appointed to the CFTC’s Technology Advisory Committee (TAC). In July 2018, Paul was also confirmed by the commission to be a member of the CFTC's Technology Advisory Committee’s Virtual Currency subcommittee.

Juthica Chou Chief Operating Officer, Co-Founder

Responsibilities

Juthica Chou spent 7 years as a derivatives trader within the Securities Division of Goldman Sachs, where she specialized in algorithmic trading. Juthica began her career as an options market-maker on the Quantitative Volatility Trading desk, where her product scope ranged from equity and index options to VIX, treasuries, currencies and commodities. She later joined the Single Stock Volatility desk, where she traded dispersion and variance swaps and focused on the automated quoting of packaged trades.Juthica received a B.S. in Mathematics with Computer Science from the Massachusetts Institute of Technology.

Jennifer Liu Chief Financial Officer

Responsibilities

Jennifer Liu has over 10 years of experience in the financial services industry. Prior to assuming her current position, Jennifer was a Senior Finance Manager at Alibaba Group where she built out the finance function in North America following the largest global IPO in September 2014. Prior to this, she was an investment analyst at JP Morgan Asset Management specializing in technology and media investments. She started her career as an equity research associate at Morgan Stanley.Jennifer received a B.S. in Operations Research & Industrial Engineering and an M.Eng. in Financial Engineering from Cornell University. She is also a CFA charterholder.

Karen Ngai Chief Design Officer

Responsibilities

Karen has over 15 years experience leading interactive and design teams for start ups and advertising agencies. Her work ranges from websites, apps to interactive exhibits. Client list includes Kaplan, Gallo Wines, Mercedes Benz, MasterCard.Karen received a B.F.A in Graphic Design from Cooper Union for the Advancement of Science and Art.

Glenn Chaleff Chief Compliance Officer

Responsibilities

Glenn has over 20 years experience in the securities industry. Prior to assuming his current position, Glenn served as the Chief Compliance Officer of Tribal Capital Markets, a full-service Broker Dealer specializing in fixed income products and mortgage backed securities. Prior to that, Glenn served in a Senior Compliance and Operations role at JNK Securities, a boutique equity research firm.Glenn holds a Bachelor of Science degree in both Finance and Marketing from Boston College.

Rob Margolis Vice President of Sales

Products

Funding

Received funding
$31,920,000
Total amount raised
10
Rounds
13
Total amount of investors
Amount Raised
Funding type
Funding round closing
Investors
$820,000
Debt

$4,430,000
Debt

$4,000,000
Series D
Huiyin Blockchain Venture
MIAX Options
$8,370,000
Series C

$11,400,000
Series B
Huiyin Blockchain Venture
MIAX Options
N/A
Private Equity
MIAX Options
$1,000,000
Unattributed

$1,500,000
Seed
FundersClub
Google Ventures
Lightspeed Venture Partners
TechU Angels
$400,000
Seed
Ben Davenport
Brock Pierce
N/A
Funding
Blockchain Capital
SV Angel

News

LedgerX exchange launches physically settled Bitcoin mini futures

Regulated Bitcoin futures exchange LedgerX has launched physically-settled BTC futures contracts.


8 months ago


Product update/release
LedgerX
Bitcoin
BTC

LedgerX Approved by CFTC to Offer Non-Crypto Derivative Products

LedgerX has been working with the CFTC to secure its amendment since 2018.


8 months ago


Regulation/Legal
LedgerX
Commodity Futures Trading Commission (CFTC)

CFTC Greenlights LedgerX Request to Move Beyond Digital Currency Products

The federal regulator has approved LedgerX’s amended registration to offer fully collateralized futures and options products.


8 months ago


Regulation/Legal
Commodity Futures Trading Commission (CFTC)
LedgerX

CFTC grants approval to LedgerX to clear derivatives products beyond those tied to crypto

LedgerX can now clear derivatives products beyond those connected to digital currencies, according to the CFTC.


8 months ago


Regulation/Legal
Product update/release
Commodity Futures Trading Commission (CFTC)
LedgerX

LedgerX is taking another shot at a bitcoin fear gauge

LedgerX is taking another stab at a VIX-like bitcoin volatility index.


10 months ago


General news
LedgerX
Bitcoin