LedgerX describes itself as “a cryptocurrency asset management platform.”
They are a “CFTC-registered Swap Execution Facility (SEF) and Derivatives Clearing Organization (DCO) specializing in the custody and trading of cryptocurrency derivatives.”
LedgerX trades Bitcoin swaps and options for institutional markets, which are derivatives of the actual value of Bitcoin. In the future, they will be offering derivatives of other digital currencies.
This is a way Bitcoin users can execute more advanced ways to both place long bets and short the cryptocurrency.