tZERO Receives CFTC Approval to Operate Derivatives Exchange

tZERO Group announced that 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), allowing it to operate a regulated derivatives exchange. Previously, on October 16, the CFTC approved tZERO DCO, LLC to register as a Derivatives Clearing Organization (DCO). tZERO supports derivatives trading and clearing through its regulated entities. The two registrations will be incorporated into tZERO's Infrastructure as a Service (IaaS) business, developing trading and clearing services for financial institutions and other market participants. According to the merger agreement signed between tZERO and FG Imperii Acquisition Corp. on October 31, the approvals for DCM and DCO constitute the achievement of the first contingent milestone, which has now been met. tZERO's existing regulated securities infrastructure includes broker-dealers, alternative trading systems, digital asset securities custody, transfer agents, as well as clearing and settlement services.