The IVAX Exchange will seek CFTC approval as a Designated Contract Market.
There’s no cost for U.S-based individuals and entities (including FCMs) to become Exchange Participants and gain free access to IVAX (with no equity stake). FCM Participants can provide direct access to their customers based almost anywhere in the world.
A better trading model
The Exchange offers trading in asset pairs where one of many fiat currencies and digital assets are exchanged for another—like an equity, and in milliseconds. One asset will settle immediately after the trade is made; the other asset will settle the next day. Although the second asset will not settle immediately, you will be able to trade out of that position immediately—just as you would if it were an equity, option, or futures contract.
All orders are fully collateralized by assets held in the customer’s Account at the Clearinghouse so there’s no risk of any party failing to meet delivery obligations. To trade at IVAX, you simply deposit whatever asset you will be delivering into your Account at the Clearinghouse. If you trade through your FCM, they will make the transfer for you.
The Exchange will charge a single fee that covers order execution, clearance, and settlement. The Clearinghouse charges nothing to accept valid deposits and charges Account owners its costs when withdrawing assets.