Bitcoin options trading venue LedgerX has taken Ancoa's contextual surveillance platform to monitor trades on its proposed platform, currently under review by the Commodity Futures Trading Commission (CFTC).
Using the Ancoa platform, LedgerX will be able to instantaneously identify and investigate manipulative behaviors and suspicious trading practices on its own exchange, across other derivatives exchanges and across the multitude of bitcoin spot markets.
Upon CFTC approval, eligible participating institutions can use the LedgerX platform to obtain and hedge bitcoin using exchange-traded and centrally-cleared options contracts.
“Comprehensive market and trade surveillance capabilities are integral to operating a regulated exchange,” says Paul Chou, CEO of LedgerX. “Furthermore, to meet the complex needs of an evolving bitcoin market and to support our sophisticated exchange platform, LedgerX requires an agile surveillance system built on the latest technology. Together with our experienced team, the Ancoa platform will provide the surveillance needed to ensure a fair and orderly bitcoin options marketplace."