Bitnomial: licences, security, fees and reviews
Derivatives exchange
In short
- Legal entity
- Bitnomial, LLC, holding company of the exchange, clearinghouse, settlement facility, trading firm and brokerage.
- Risks and caveats
- Leveraged futures can lose more than the initial investment, Bitnomial warns.
- Checked
- 1 November 2026
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Key facts
- Type
- Derivatives exchange
- Country of registration
- United States
- Operator
- Bitnomial, LLC (Payward group)
- Official site
- bitnomial.com
Key facts checked on 1 November 2026 against official sources and regulator registers.
What is Bitnomial
Bitnomial is a Chicago-based derivatives exchange company. It owns a CFTC-regulated exchange (DCM), clearinghouse (DCO) and clearing brokerage (FCM), and offers leveraged spot, perpetuals, futures, options and prediction markets with crypto margin and settlement.
Good to know
- Bitnomial says it is the first and only CFTC-regulated exchange that accepts digital assets as margin collateral (company claim). ↗
- Its futures and options can settle in the underlying crypto (physical delivery) rather than cash. ↗
- Botanical is Bitnomial's trading platform for perpetual and traditional futures and options. ↗
Services
| Parameter | Details |
|---|---|
| Perpetual futures | Bitcoin perpetual futures; Bitnomial calls them the first CFTC-regulated perpetual futures. |
| Leveraged spot | Leveraged retail spot market; up to 6x leverage on margin trades (rates subject to change). |
| Futures and options | Crypto-margined and crypto-settled futures and options. |
| Prediction markets | Event contracts (prediction markets) on the same exchange. |
| New listings | TRX futures listed in July 2026. |
Licences and registrations
| Jurisdiction | Entity | Licence / registration | Regulator |
|---|---|---|---|
| — | Bitnomial Exchange, LLC was designated a contract market by the CFTC, effective 20 April 2020. | — | |
| — | Bitnomial Clearinghouse, LLC is a CFTC-registered DCO, wholly owned by the exchange. | — | |
| — | Bitnomial Clearing, LLC is a CFTC-registered FCM and NFA member. | — | |
| — | ESMA gave the exchange a positive assessment for post-trade transparency as a third-country venue under MiFID II / MiFIR. | — |
Security and audits
- Bitnomial asks that security vulnerabilities be reported to security@bitnomial.com.
- Affiliated entities (exchange, clearinghouse, FCM, trading firm) operate under CFTC conflict-of-interest policies; the affiliated FCM may not receive preferential treatment.
Security incidents
No security incident is recorded in the sources checked on 1 November 2026 (the company’s own channels and incident databases): defillama.com/hacks, hacked.slowmist.io, rekt.news/leaderboard, bitnomial.com/news, bitnomial.com/security
Who can use it
- Verification: Account creation requires KYC verification; futures trading also needs verification with an FCM.
- Open to US residents and residents of other countries, subject to local rules and FCM eligibility; no restricted-country list is published.
History
| Date | Event |
|---|---|
| 2014 | Bitnomial is founded by Luke Hoersten, previously on the FX desk of Allston Trading. |
| 20 April 2020 | The CFTC designates Bitnomial Exchange, LLC as a contract market for margined, physically delivered bitcoin futures and options. |
| 2021 | Bitnomial Exchange launches its margined, physically settled bitcoin futures market. |
| 2022 | Bitnomial Clearing, LLC registers with the NFA as a futures commission merchant. |
| 2023 | Bitnomial Clearinghouse, LLC is registered by the CFTC as a derivatives clearing organization. |
| 2025 | The clearinghouse launches with the first US perpetual futures contract. |
| 17 April 2026 | Payward announces an agreement to acquire Bitnomial. |
| 1 May 2026 | Payward completes the acquisition; Bitnomial keeps its licences and operates within the Payward group. |
Risks and caveats
- Leveraged futures can lose more than the initial investment, Bitnomial warns.
- The digital asset settlement facility, Bitnomial Settlement, LLC, is not licensed or registered with the CFTC.
- An affiliated trading firm (Bitnomial Trading, LLC, currently non-operational) and Payward Oceanic Ltd. are participants or affiliates of the exchange.
About the company
- Legal entity
- Bitnomial, LLC, holding company of the exchange, clearinghouse, settlement facility, trading firm and brokerage.
- Headquarters
- 325 W. Huron St., Chicago, IL 60654.
- Owner
- Payward, the parent company of Kraken (since May 2026).
- Founder and CEO
- Luke Hoersten.
Official links
- Website: bitnomial.com
- About: bitnomial.com/about
- Disclosures: bitnomial.com/disclosures
- News: bitnomial.com/news
- Exchange rulebook: bitnomial.com/exchange/rulebook
- Help: bitnomial.com/help
- Source code: www.github.com/bitnomial
Questions and answers
Is Bitnomial regulated?
Yes. Its subsidiaries are registered with the US CFTC as a designated contract market (since April 2020), a derivatives clearing organization and a futures commission merchant (also an NFA member).
Who owns Bitnomial?
Payward, the parent company of Kraken, completed its acquisition of Bitnomial on 1 May 2026. Bitnomial keeps its licences and operates within the Payward group.
What can you trade on Bitnomial?
Leveraged spot (up to 6x), perpetual futures, futures and options that can settle in crypto, and prediction markets.
Can non-US residents use Bitnomial?
Bitnomial says it is open to residents of the US and other countries, subject to local rules and FCM eligibility.
Sources
- Bitnomial - Home
- Bitnomial - About
- Bitnomial - Disclosures
- Bitnomial - Security
- Bitnomial - News
- Payward Completes Acquisition of Bitnomial (1 May 2026)
- TRX futures launch (27 July 2026)
- Bitnomial - Help
- Bitnomial - Perpetual futures
- CFTC Approves Bitnomial Exchange (20 April 2020)
- CFTC press release 8153-20
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