ErisX, a cryptocurrency derivatives platform provider, has announced a new REST API for its Block trading facility. Through the API, users can trade spot and regulated-futures products for all exchanges available through ErisX. Currently, that includes Bitcoin, Bitcoin cash, Ether, and Litecoin.
ErisX describes the API as something that capital markets professionals are accustomed to seeing. API access to trading platforms in broader capital markets are common and promote efficiencies. Most trading in crypto markets is done through OTC process which is slower and cumbersome. Through the ErisX API, trades are automatically reviewed, settled and cleared through Eris Clearing.
To use the API, users must be registered members of the clearinghouse. Those users can continue to use ErisX's trading interface or place trades through the API. EsriX conducts the credit check on both transacting parties and clears the transaction.
Spot and Block trading and Esri clearing complies with all applicable laws, although Spot trading is not currently federally regulated. User transactions are fully encrypted to protect privacy and confidentiality. Those interested in using the API should reach out to the team at firstname.lastname@example.org