Lighter plans to file in November with the U.S. Commodity Futures Trading Commission for two key licenses: designated contract market, or DCM, and derivatives clearing organization, or DCO. Founder and CEO Vladimir Novakovski disclosed the plan during a third-quarter investor meeting, saying the move is intended to support opening the platform to institutional clients in the United States. He also said the team has already held extensive preliminary discussions with CFTC staff on how existing regulatory principles could apply to on-chain trading and clearing mechanisms. Once the application is formally submitted, the regulator can take up to 280 days to review it. Novakovski said the earlier preparation should help move the process along. The disclosure also revived community speculation about deeper ties with Robinhood after CEO Vlad Tenev had previously said Lighter was not chosen as a partner for U.S. perpetual futures mainly because of regulatory structure considerations. No cooperation arrangement has been formally confirmed. Market data showed LIT rose as much as 15% over the past 24 hours and was last trading at $3.76.
Lighter plans to formally apply in November to the U.S. Commodity Futures Trading Commission for designated contract market, or DCM, and derivatives clearing organization, or DCO, licenses, according to comments made by founder and CEO Vladimir Novakovski during a third-quarter investor meeting.
The company said the filing is aimed at opening its business to institutional clients in the United States. Novakovski said the team has already had extensive preliminary discussions with CFTC staff on how existing regulatory principles could be applied to on-chain trading and clearing mechanisms.
After the application is submitted, the regulator can take up to 280 days to complete its review. Novakovski said the advance preparation is expected to help the approval process.
Earlier, Robinhood CEO Vlad Tenev said Lighter was not selected as a partner for its U.S. perpetual futures business mainly because of regulatory structure considerations. After Lighter disclosed its licensing plan, the community again began speculating that the company could deepen cooperation with Robinhood in the future, though no such arrangement has been formally confirmed.
Market data showed LIT rose as much as 15% over the past 24 hours following the news and was last quoted at $3.76.
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