Finance & Markets

Bitcoin Future Contracts To Be Introduced By UK Crypto Exchange

A British cryptocurrency exchange is planning to enter the bitcoin futures market. Cryptocurrency market has been going through various ups and downs with constant variation in country-based regulations. On such landscapes, a new player is looking forward to enter the cryptocurrency market.

A London-based exchange, CoinfloorEX founded in 2013, declared on Wednesday that it would be introducing bitcoin futures contracts in the coming month, working along with other major players to deliver such product to their clients.

Particularly, dissimilar to some of its contender, Coinfloor will proffer matured futures contracts, which means when the bond is in position to get expire, the authentic asset that is traded will be distributed in the form of bitcoin. Cboe and CME at present settle bitcoin future contract offered through cash and don’t transact by bitcoin with the contract owners.

Mark Lamb, Coinfloor co-founder stated that the company brought the product owing to the demand from the customers of other exchanges.

He also explained, “When you communicate with the liquidity providers, there is a common response noted that all they want is physically delivered future contracts, so they can evade theirs across the exchanges. Coinfloor presently is placed at the fifth position after some other company that provides bitcoin futures contracts such as CryptoFacilities, CBOE, Bitmex, and CME Group. Among these Cboe, CME, and CryptoFacilities settle the contracts through cash.

Bitcoin’s future performance is still believed to be divisive with U.S. Commodity Futures Trading Commission declaring that it would function on sharp evaluation procedure for any further contracts post receiving reposition on the current products.

Similarly, several senators asked for more details regarding the CFTC’s supervision of such products, stating that taxpayers should be confined from abusive practices, manipulation, and fraud in the options and futures markets.

Arpit Mehta

Arpit is a well ripened fruit in the field of finance and markets. When it comes to numbers, nobody can catch this guy’s hand. Needless to say that he does not require a calculator, he himself is the calculator for the Market Global News’ team. In his free time, you will find him grabbing a cup of coffee with his friends.

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