Financial infrastructure company tZERO approved to operate U.S. derivatives exchange

on November 12, according to an official announcement from tZERO, 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 stated that its subsidiary tZERO DCO, LLC had previously registered as a Derivatives Clearing Organization (DCO) on October 16; these two registrations lay the foundation for providing derivatives trading and clearing services through a regulated entity. Under the proposed merger agreement between tZERO and FG Imperii, the approval of both designations also marks the achievement of its first performance milestone.