Derivatives trading in the crypto sphere has been a matter of speculation and discussions. Of late, a surge in the number of platforms offering derivatives trading has been witnessed. In a recent update, leading cryptocurrency exchange, Bitfinex announced that it is considering launching options trading in the first quarter of 2020. Let’s have a look at the platforms that are racing to launch new crypto derivatives soon.
Bitfinex Announces Launch of Options Trading
Per a recent announcement by Paolo Ardoino, CTO of Bitfinex and Tether, Bitfinex plans to offer options trading in the first quarter of 2020. After iFinex Financial Services, a subsidiary of iFinex, launched derivatives this summer, the exchange has now turned its focus on options.
“That was a big project. It required a few months of full-time development.”
Another development in line for the exchange are Tether-based swaps. One of the primary reasons to launch Tether-based swaps is to build trust and a wider reach for Tether. Furthermore, Arduino said he’s currently working with external market makers to ensure liquidity.
Bakkt To Offer Options Trading Starting December 9th
Bakkt, is all set to launch first regulated options contracts for Bitcoin futures on the 9th of December. The options contract will be based on the Bakkt Monthly Bitcoin Futures contract. The new contract has been designed as per customer feedback and has been designed to hedge or gain bitcoin exposure, generate income, and offer cost and capital efficiencies.
As a matter of fact, ICE Futures U.S has certified the contract with the CFTC. The fees has been set at $1.25 per options contract where 1 contract is 1 Bitcoin.