Cryptocurrency brokerage Genesis Global Capital announced the completion of its first transaction that will pave the way for new institutional crypto futures products.
Genesis conducted the first over-the-counter (OTC) block trading of Basis Trade at Index Close (BTIC) using Bitcoin futures contracts on the Chicago Mercantile Exchange (CME). The transaction was carried out in partnership with derivatives market maker Akuna Capital, according to an announcement dated Sept. 26.
This is the first time BTIC has been used on cryptocurrencies as it is more widely used in the stock market. This type of trading enables investors to buy and sell futures contracts at prices based on the daily closing price of the index.
Tim McCourt, Global Head of Equity Indexes and Alternative Investment Products for CME Group, says the product is the next step in enabling greater exposure to CME’s bitcoin derivatives and contracts. Ethereum futures, with ether contracts introduced in February. He further explains the advantages of this new commercial vehicle:
“BTIC enables market participants to trade underlyings more efficiently and at the same time offers a regulated marketplace for real-time pricing and improved trading accuracy for institutional participants who want to optimize their holdings between the futures market and the spot market.”
Genesis provides the CME Group with liquidity for its BTC and ETH futures and options products.
Related: Big Investors Switch From Bitcoin To Ether Futures: JPMorgan
In May, CME launched micro-bitcoin futures, which are contracts worth 0.1 BTC. The offer is intended to enable institutional traders to hedge their risk with crypto assets.
In late June, the product topped a million contracts traded, suggesting high demand for smaller crypto positions from institutional investors who are still under scrutiny. This latest product is another example of diversification options for seasoned investors with exposure to the cryptocurrency market.
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Genesis conducted the first over-the-counter (OTC) block trading of Basis Trade at Index Close (BTIC) using Bitcoin futures contracts on the Chicago Mercantile Exchange (CME). The transaction was carried out in partnership with derivatives market maker Akuna Capital, according to an announcement dated Sept. 26. This is the first time BTIC has been used on cryptocurrencies as it is more widely used in the stock market. This type of trading enables investors to buy and sell futures contracts at prices based on the daily closing price of the index. Tim McCourt, Global Head of Equity Indexes and Alternative Investment Products for CME Group, says the product is the next step in enabling greater exposure to CME’s bitcoin derivatives and contracts. Ethereum futures, with ether contracts introduced in February. He further explains the advantages of this new. Genesis conducted the first over-the-counter (OTC) block trading of Basis Trade at Index Close (BTIC) using Bitcoin futures contracts on the Chicago Mercantile Exchange (CME). The transaction was carried out in partnership with derivatives market maker Akuna Capital, according to an announcement dated Sept. 26. This is the first time BTIC has been used on cryptocurrencies as it is more widely used in the stock market. This type of trading enables investors to buy and sell futures contracts at prices based on the daily closing price of the index. Tim McCourt, Global Head of Equity Indexes and Alternative Investment Products for CME Group, says the product is the next step in enabling greater exposure to CME’s bitcoin derivatives and contracts. Ethereum futures, with ether contracts introduced in February. He further explains the advantages of this new. Genesis conducted the first over-the-counter (OTC) block trading of Basis Trade at Index Close (BTIC) using Bitcoin futures contracts on the Chicago Mercantile Exchange (CME). The transaction was carried out in partnership with derivatives market maker Akuna Capital, according to an announcement dated Sept. 26. This is the first time BTIC has been used on cryptocurrencies as it is more widely used in the stock market. This type of trading enables investors to buy and sell futures contracts at prices based on the daily closing price of the index. Tim McCourt, Global Head of Equity Indexes and Alternative Investment Products for CME Group, says the product is the next step in enabling greater exposure to CME’s bitcoin derivatives and contracts. Ethereum futures, with ether contracts introduced in February. He further explains the advantages of this new. Genesis conducted the first over-the-counter (OTC) block trading of Basis Trade at Index Close (BTIC) using Bitcoin futures contracts on the Chicago Mercantile Exchange (CME). The transaction was carried out in partnership with derivatives market maker Akuna Capital, according to an announcement dated Sept. 26. This is the first time BTIC has been used on cryptocurrencies as it is more widely used in the stock market. This type of trading enables investors to buy and sell futures contracts at prices based on the daily closing price of the index. Tim McCourt, Global Head of Equity Indexes and Alternative Investment Products for CME Group, says the product is the next step in enabling greater exposure to CME’s bitcoin derivatives and contracts. Ethereum futures, with ether contracts introduced in February. He further explains the advantages of this new
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