High Roller Creates ROLR FCM Unit to Study Brokerage Operations

ROLR currently operates through a guaranteed introducing broker, ROLR US LLC. Customers use its platform to access event contracts, but their trading accounts and funds remain with Crypto.com FCM.

Crypto.com Still Carries ROLR Accounts

High Roller outlined a possible change in its November 11 announcement. A registered futures commission merchant (FCM) could give the company more control over account servicing and brokerage operations.

Connamara has been brought in to examine the requirements rather than build a finished brokerage system. Its review covers customer onboarding, segregation of client funds, margin and risk controls, connections to exchanges and clearing organizations, and regulatory reporting.

The work also includes internal access to a demonstration environment for Connamara’s EP3 exchange technology. The company will receive a preliminary roadmap identifying integration needs and outstanding gaps.

Three Moves in 21 Days

High Roller has made three announcements since bringing ROLR to the public:

• October 21 – ROLR opened for eligible US customers, following a September beta;
• November 9 – The company released its iPhone app, adding trading and account management on iOS;
• November 11 – ROLR FCM LLC was formed to evaluate a broader brokerage role.

The company had already secured ownership of ROLR’s customer-facing application through its agreement with mrkts.com. As 15M reported in August, that deal left specialist development and Crypto.com connectivity with an external partner.

The latest move concerns a different part of the operation: who services trading accounts and potentially carries customer funds.

Registration Is the Next Step to Watch

ROLR FCM LLC has yet to apply for registration with the National Futures Association. The Connamara review will help High Roller decide whether to take that step.

An NFA filing would signal a move toward its own brokerage operations. Changes to ROLR’s customer account arrangements would be another development to watch, particularly while Crypto.com continues to handle that side of the business.