Institutional spot and perpetuals exchange operating a central clearinghouse with daily net settlement
EDX Markets is an institutional-only digital asset exchange designed to mirror traditional equity and derivatives market architecture. Operating with a central clearinghouse model, the venue removes direct bilateral counterparty exposure between participants by standardizing daily net settlement and maintaining bankruptcy-remote member accounts.
Founded in 2022 and headquartered in the United States, EDX Markets was created by a consortium of major financial firms. Founder Jamil Nazarali serves as Executive Chairman of the board after initially serving as Chief Executive Officer, having previously held senior roles including Global Head of Business Development at Citadel Securities and Global Head of Electronic Trading at Knight Capital Group. Tony Acuña-Rohter serves as Chief Executive Officer, stepping up from his previous role as Chief Technology Officer; earlier in his career, he served as CTO at ErisX and Director of Software Engineering at CME Group. The firm closed a $76 million Series C funding round led by SBI Holdings.
EDX operates a non-custodial exchange model for spot markets, allowing member institutions to execute trades while keeping assets with their preferred independent custodians. The platform integrates with institutional transfer networks such as Fireblocks Network Link to streamline asset movements. In addition to its US-based spot venue, EDX operates EDX Derivatives for international perpetual futures with leverage up to 5x across digital and traditional assets. Institutions can also access EDX FlowConnect, a crypto-as-a-service infrastructure suite for configurable liquidity and clearing operations.
Participation on EDX Markets is restricted strictly to verified institutional entities, requiring thorough organizational onboarding and know-your-customer compliance. The international perpetuals platform, EDX Derivatives, is unavailable to retail investors and excludes entities based in the United States, United Kingdom, European Union, and Singapore.
EDX Markets announced its launch in September 2022 and began processing live spot trades in June 2023. It expanded globally in 2024 through EDXM Global to facilitate international transfers and digital token clearing. While the clearinghouse model eliminates bilateral credit risk, trading members remain exposed to execution risks during high-volatility events, custodian-specific operational failures, and regulatory limitations that preclude retail traders and restrict geographic derivatives access.
Former Global Head of Business Development at Citadel Securities and Global Head of Electronic Trading at Knight Capital Group.
EDX Markets combines institutional spot trading with central clearing, but its institution-only access and restricted derivatives availability exclude most retail traders.
EDX Markets is an institutional-only exchange and central clearinghouse, rather than a retail trading app. The company launched in 2022, its flagship spot venue began processing trades in June 2023, and EDXM Global launched in 2024. Tony Acuña-Rohter is CEO. Founder Jamil Nazarali is Executive Chairman of the board after previously leading the company as CEO.
Central clearing is the main strength. EDX says member assets are held in bankruptcy-remote accounts, clients can work with the custodian of their choice, and trades settle once daily on a net basis. A default fund is intended to support timely settlement, while the venue removes direct bilateral exposure between counterparties. The company also says clients can secure up to 5x leverage, which adds borrowing capacity but brings the usual liquidation risk of leveraged trading.
The company has substantial institutional-market backing. EDX closed a $76 million Series C led by SBI Holdings, and its leadership includes executives with backgrounds at Citadel Securities, Knight Capital Group, ErisX and CME Group. Recent product activity includes EDX Derivatives, FlowConnect infrastructure, and partnerships involving Fireblocks, VerifiedX and Raven.
The trade-offs are material. Access is limited to institutions, and EDX Derivatives is unavailable to retail investors and people in the US, EU, UK and Singapore. Derivatives exposure adds market and leverage risk, while custody remains part of the institutional operating model even with bankruptcy-remote account structures.
EDX fits financial institutions and crypto-native trading firms that require spot execution and clearing infrastructure. Retail traders seeking consumer exchange accounts or instant card purchases need a different type of platform.
| Markets | Spot, Futures · unverified |
|---|---|
| KYC required ⓘ | Yes · unverified |
| Accepts US customers | Yes · unverified |
| Staking / earn | No · unverified |
| Mobile app | No · unverified |
| Security features | Bankruptcy-remote accounts, Central clearinghouse, Third-party custodian integration · unverified |
| Futures & perpetuals | Yes · unverified |
| Max leverage (x) | 5 · unverified |
| Copy trading | No · unverified |
| P2P market | No · unverified |
| Earn / savings products | No · unverified |
| User protection fund | Yes · unverified |
| Referral program | No · unverified |
Not disclosed by the provider: Maker fee, Taker fee, Coins listed, Fiat deposit methods, Proof of reserves, Licenses & registrations.
Data from the provider's website and public sources. Fees and availability change; confirm on the official site before you sign up.
Executes once-daily net settlement of trades backed by a central default fund to eliminate bilateral counterparty exposure.
Allows trading members to custody assets in bankruptcy-remote accounts with third-party custodians rather than on the exchange itself.
Offers international institutions access to perpetual futures with leverage up to 5x across major traditional and digital assets.
Integrates direct institutional connectivity for fast digital asset transfers and deposit workflows.
Provides white-label infrastructure covering liquidity, matching, clearing, and settlement for corporate and financial institutions.
EDX Markets is the institution-only spot venue and central clearinghouse. It provides daily net settlement, access to client-selected custodians and a default fund for settlement support.
EDX Derivatives is an international institutional venue for perpetual futures across digital assets, equities, foreign exchange and real-world assets. The site states that clients can secure up to 5x leverage.
EDX FlowConnect is a Crypto-as-a-Service platform for institutions. Its configurable infrastructure covers trading, liquidity, clearing and settlement.
EDXM Global is EDX's international hub, launched in 2024. It provides custody and settlement infrastructure for Digital Payment Tokens.
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Jamil Nazarali founded EDX Markets and is now its Executive Chairman. He previously served as CEO and held senior electronic-trading roles at Citadel Securities and Knight Capital Group.
Tony Acuña-Rohter is CEO of EDX Markets. Before joining EDX, he was CTO of ErisX and held a software engineering leadership role at CME Group.
EDX Markets is available to institutional clients only. EDX Derivatives is unavailable to retail investors and persons in the US, EU, UK and Singapore.
EDX says member assets are held in bankruptcy-remote accounts and clients can choose their custodian. Its central clearing model also uses once-daily net settlement and a default fund.
Yes, EDX Derivatives is an international institutional venue for perpetual futures across digital assets, equities, foreign exchange and real-world assets. The EDX site says clients can secure up to 5x leverage.
EDX offers its institutional spot venue, EDX Derivatives, EDX FlowConnect and EDXM Global. FlowConnect provides configurable trading, liquidity, clearing and settlement infrastructure for institutions.
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