D2X operates a MiFID-regulated Multilateral Trading Facility (MTF) for trading cash-settled cryptocurrency futures and options. The platform provides institutional access to digital asset derivatives with 7-day-a-week operation. Users benefit from off-exchange collateral management utilizing EU banks and MiCA-regulated custodians.
Funding
$15.6M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
PVFounders
Product
Problem
Institutional investors face challenges in efficiently trading crypto derivatives due to regulatory complexities, operational risks, and the need for capital-efficient post-trade processes. Existing solutions often lack the security, custody, and margining capabilities required to mitigate counterparty risk and gain clean exposure to digital assets.
Solution
D2X provides a regulated, pan-European digital derivatives exchange that enables institutional investors to trade crypto futures and options with a capital-efficient post-trade model. The platform offers secure custody and portfolio margining, allowing financial institutions to gain exposure to digital assets while mitigating counterparty risk through reputable institutions. D2X standardizes the trading experience, transforming bilateral relationships into a multilateral experience with industry-standard connectivity via SBE, FIX, and WebSocket protocols. The exchange operates 7-days-a-week and is regulated as an investment firm under MiFID II, supervised by the AFM in the Netherlands.
Target Audience
The primary target audience includes institutional investors, financial institutions, and proprietary trading firms seeking regulated and capital-efficient access to crypto derivatives.
Features
- MiFID-regulated exchange for crypto futures and options
- Collateral-efficient portfolio margining using a state-of-the-art CVaR methodology
- Secure custody of fiat collateral at a Tier 1 EU Credit Institution
- Connectivity via industry-standard protocols like SBE, FIX, and WebSocket
- Low-latency trading infrastructure built in Rust and hosted at AWS in Frankfurt
- Central Order Book and Block Trading Facility for mitigating counterparty risk
- Market data distribution over multi-cast for a fair and efficient trading experience