[Exchanges](https://revain.org/exchanges/) › Bitnomial

# 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

## Key facts

- **Type**: Derivatives exchange
- **Country of registration**: United States
- **Operator**: Bitnomial, LLC (Payward group)
- **Official site**: [bitnomial.com](https://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). [↗](https://bitnomial.com/)
- Its futures and options can settle in the underlying crypto (physical delivery) rather than cash. [↗](https://bitnomial.com/about)
- Botanical is Bitnomial's trading platform for perpetual and traditional futures and options. [↗](https://bitnomial.com/)

## 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](https://defillama.com/hacks), [hacked.slowmist.io](https://hacked.slowmist.io/), [rekt.news/leaderboard](https://rekt.news/leaderboard), [bitnomial.com/news](https://bitnomial.com/news), [bitnomial.com/security](https://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](https://bitnomial.com/)
- About: [bitnomial.com/about](https://bitnomial.com/about)
- Disclosures: [bitnomial.com/disclosures](https://bitnomial.com/disclosures)
- News: [bitnomial.com/news](https://bitnomial.com/news)
- Exchange rulebook: [bitnomial.com/exchange/rulebook](https://bitnomial.com/exchange/rulebook)
- Help: [bitnomial.com/help](https://bitnomial.com/help)
- Source code: [www.github.com/bitnomial](https://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](https://bitnomial.com/)
- [Bitnomial - About](https://bitnomial.com/about)
- [Bitnomial - Disclosures](https://bitnomial.com/disclosures)
- [Bitnomial - Security](https://bitnomial.com/security)
- [Bitnomial - News](https://bitnomial.com/news)
- [Payward Completes Acquisition of Bitnomial (1 May 2026)](https://bitnomial.com/news/2026-05-01/payward-completes-acquisition-bitnomial/)
- [TRX futures launch (27 July 2026)](https://bitnomial.com/news/2026-07-27/trx-futures-launch/)
- [Bitnomial - Help](https://bitnomial.com/help)
- [Bitnomial - Perpetual futures](https://bitnomial.com/market/perpetuals)
- [CFTC Approves Bitnomial Exchange (20 April 2020)](https://bitnomial.com/news/2020-04-20/cftc-approval/)
- [CFTC press release 8153-20](https://www.cftc.gov/PressRoom/PressReleases/8153-20)

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Page updated: 2026-11-01

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Source: https://revain.org/exchanges/bitnomial/