Seed CX Has Started Testing Physically-Settled Swap Contracts With Bitcoin

Seed CX, a Bitcoin (BTC) derivatives firm, has recently decided to start the tests with its new margin swap products. According to the company’s press release, the matching platform os swapping products can already be tested by the clients via the Seed SEF platform.

The CEO of Seed CX, Edward Woodford, affirmed that this initial period of testing will be used in order to allow people to get in touch with the offerings and determine what is working or not to deliver a great product later. He affirms that the product will probably be officially launched within the next three months.

From the technological point of view, the company is ready for the launch and only requires the predicted time for testing. The only possible reason for delays can be regulators, which can be considerably more unpredictable.

Brian Liston, the president of the crypto derivatives company, affirmed that all Bitcoin of the new platform will be physically-settled and that the company is pretty excited to have such an interesting offering for investors. According to him, these are the final steps in order to get the product ready and out of the door, but some more beta testing is required first.

Seed CX Will Have Competition

Seed CX may be getting its products ready, but the company is far from being the only one to do it. Several other companies are focusing on the same niche. Blade (which was backed by Coinbase), ErisX and LedgerX are all getting ready to offer similar products.

Most of them are still getting services ready, too, so the ones to take the lead will probably get an edge on the competition.

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Author: Gabriel Machado

Crypto Derivatives Exchange FTX Releases “Shitcoin Futures Index” For Traders to Short Altcoins

Crypto-Derivatives-Exchange-FTX-Releases-Shitcoin-Futures-Index-For-Traders-to-Short-Altcoins

FTX, a crypto derivatives platform, has started to offer a very curious new product recently. The company has created a speculative index fund called SHIT-PERP: Shitcoin Index Perpetual Futures. That’s right, people, futures for the so-called shitcoins.

The idea is to index a total of 58 altcoins which are pretty badly placed in the market. It has a lot of projects which are not very well-known and some projects which are more famous such as Grin, Waves and Nano. Now, SHIT-PERP will join MID-PERP and ALT-PERP, two other low-cap indexes which are present in the site.

FTX is actually a somewhat new exchange. It was originally incubated during the Alameda Research program and it launched this year. The platform provides an over the counter (OTC) desk, indexes, futures and spot trading. Now, the platform is also offering options for traders who are interested in margin trading and spot trading as well.

According to the company, its connection with Alameda Research also helps it to have more liquidity than other companies in the market. Alameda, which was created in 2017, currently managed over $100 million USD worth of assets.

The team also affirmed that it was FTX that helped the company to get some important employees on board, such as people who worked on Google, Facebook, Jane Street, Susquehanna and Optiver.

Interacting With The Market In New Ways

Darren Wong, the CMO of FTX, was recently interviewed by Coindesk. He affirmed that the index of bad coins is important because it can give people new ways to interact with the market.

According to Wong, there are at least three examples of how someone could use the shitcoin index in order to make profits. For instance, the person could get exposure to an Initial Coin Offering (ICO) without needing to be exposed to the general industry. This way, the person could short the market and hedge bets while limiting the downsides.

Another way is to short the altcoin market in general since there are not a lot of ways to do that. Finally, the third way is to buy from the three indexes in case you think that BTC dominance is too high and will go down soon, this way, you profit when dominance goes down.

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Author: Gabriel Machado

BitMEX, Refinitiv and CryptoCompare to Collectively Create Real-Time Crypto Futures Metrics

BitMEX, Refinitiv and CryptoCompare to Collectively Create Real-Time Crypto Futures Metrics

BitMEX, known as a crypto derivatives platform, is set to unite with CryptoCompare to create a real-time crypto futures dataset. The companies are ready to create this product for new investors and to use the technology of Refinitiv, which is providing the base platform, together.

After the integration with Refinitiv Eikon (a set of software products focused on professionals who want to monitor markets in order to get the best results), the product is being set to make crypto markets more transparent.

The CEO of BitMEX Arthur Hayes is heading the initiative, which he believes that will be important in order to secure greater participation from institutional investors in the crypto world.

According to him, making good trading decisions depends heavily on solid data. If the investors do not have this kind of insight, they will often avoid these markets as they are seen as riskier than the other ones.

With the help of the new product, however, the company will be able to cater to this kind of investor better and will give them the confidence that they will need in order to be participants in this market.

CryptoCompare is another company which has a long-time interest in catering to this kind of investor offering data. They made a partnership with Thomson Reuters last year in order to provide an order book for 50 cryptos on the Refinitiv Eikon platform, of which the company was already a partner before this latest project was started.

The founder of CEO of CryptoCompare, Charles Hayter, has affirmed that the crypto market is ready to mature now and this will certainly bring all kinds of new investors, especially the institutional ones, which are often seeing as the most interesting type because they trade in large sums.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Gabriel M