Financial Infrastructure Company tZERO Receives Approval to Operate U.S. Derivatives Exchange

TechFlow reported on November 12 that, according to tZERO's official announcement, its wholly owned subsidiary tZERO DCM, LLC has been approved by the U.S. Commodity Futures Trading Commission (CFTC) to register as a designated contract market (DCM), authorizing it to operate a regulated derivatives exchange.

The company said its subsidiary tZERO DCO, LLC was previously registered as a derivatives clearing organization (DCO) on October 16; the two registrations lay the foundation for providing derivatives trading and clearing services through regulated entities. Under the proposed merger agreement between tZERO and FG Imperii, the approval of the two qualifications also enabled it to reach the first performance bonus milestone.

Source: TechFlow