- Bitnomial has launched US-based “physically” settled Bitcoin futures with a margin of 35%.
- The contracts enable efficient basic trading, so that no bilateral trades are required to liquidate positions.
- The new offering also allows lenders and miners to get massive coverage.
The Bitcoin derivatives exchange Bitnomial has launched “physically” settled Bitcoin futures with a margin of 35% in the US, the company announced in a press release on November 15, and enables lenders and miners to hedge themselves on a large scale .
“Today’s announcement coincides with the announcement of new strategic investors including Franklin Templeton, the O’Brien Family Office and Belvedere Strategic Capital,” the press release said. “The new investors join current investors and participants including Jump Trading, DV Chain, Consolidated Trading, Coinbase Ventures, Digital Currency Group, Electric Capital and Bittrex Global.”
Bitnomial supports trading for clients worldwide through partnerships with brokerage firms ED&F Man Capital Markets, Marex, RJ O’Brien & Associates and StoneX Financial. The first trade was executed by DV Chain and Galaxy Digital and cleared by RJ O’Brien & Associates and ED&F Man Capital Markets.
“As a provider of block liquidity of derivatives and an early participant in Bitnomial, Genesis is pleased to introduce additional regulated trading venues for trading physically settled futures products,” said Joshua Lim, Head of Derivates at Genesis, an early and major proponent of the offering. “We’re seeing Bitnomial fill a niche for basic trades on deliverable futures.”
According to the press release, Bitnomial will initially offer trading in two quarterly contracts, Bitcoin US Dollar Futures and Deci Bitcoin US Dollar Futures, which are designed for institutional and retail investors and do not charge any fees for market data or trading access. The company is a wholly owned designated contract market (DCM) regulated by the US Commodity Futures Trading Commission (CFTC).
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