CFTC approves STX-linked XV Exchange for direct access

The Commodity Futures Trading Commission has approved XV Exchange, the US exchange entity identified in STX’s documentation, as a designated contract market.

The CFTC’s registration record dates the designation to 3 November 2026. XV Clearing separately received clearinghouse registration on 29 October, with permission to clear fully collateralised futures, options on futures and swaps, according to its CFTC record.

Direct access without an FCM intermediary

The exchange designation order describes an anonymous electronic central limit order book and requires contracts to be cleared on a fully collateralised basis by a CFTC-registered clearing organisation.

XV’s model is non-intermediated. The order expressly prohibits futures commission merchants, the brokers that can handle customer futures accounts, from intermediating transactions or carrying customer accounts for trades on the exchange.

XV must also comply with the representations in its application and the requirements applicable to designated contract markets. The order describes responsibilities for market surveillance, investigations and enforcement of trading rules.

US trading launch remains unconfirmed

At publication, STX’s public API documentation still described the CFTC application as pending and said US trading was not open. That application-status wording is out of date against the regulator’s designation record. PF could not confirm a commercial opening date, initial contracts or live US availability from the reviewed sources.

The documentation distinguishes the US operation from STX’s live Ontario exchange, which operates under provincial gambling regulation. Accounts, balances and markets do not carry between them.

PF previously reported on STX’s deployment of Eventus Validus for trade surveillance while the applications were pending. The November designation changes that regulatory status; it does not establish that trading has begun.