Bitnomial, a US cryptocurrency derivatives exchange company, has launched US-based, physically settled bitcoin futures with 35 per cent margin, a significant milestone and a first for a de novo exchange.
Bitnomial, a US cryptocurrency derivatives exchange company, has launched US-based, physically settled bitcoin futures with 35 per cent margin, a significant milestone and a first for a de novo exchange.
Bitnomial’s contracts allow for efficient basis trading, eliminating the need to execute bilateral trades to unwind positions, and enabling lenders and miners to hedge at scale. The launch marks the first in a suite of products, with options and other assets to be offered in the coming months.
Today’s announcement coincides with the announcement of new strategic investors including Franklin Templeton, the O’Brien Family Office, and Belvedere Strategic Capital. 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 has partnered with brokerage firms ED&F Man Capital Markets, Marex, RJ O’Brien & Associates, and StoneX Financial to support trading for customers globally.
DV Chain and Galaxy Digital executed the first trade which was cleared by RJ O’Brien & Associates and ED&F Man Capital Markets, while Genesis has been an early and key supporter of the offering.
Garrett See, CEO of DV Chain, says: “Bitnomial’s physically delivered futures represent a turning point for institutional crypto trading. The margined and cleared products allow for professional traders to scale their activities without counterparty risk or operational inefficiencies.”
Joshua Lim, Head of Derivatives at Genesis, says: “As a derivatives block liquidity provider and early Bitnomial market participant, Genesis is excited to see the launch of additional regulated venues for trading physically settled futures products. We see Bitnomial filling a niche for basis trades on deliverable futures.”
Brooks Dudley, Global Head of Digital Assets at ED&F Man Capital Markets, says: “Our firm has been at the forefront of providing clients with access to this important alternative asset class. We are therefore delighted to support this launch and look forward to further innovative products in the coming months.”
Bitnomial initially offers trading in two quarterly contracts, Bitcoin US Dollar Futures and Deci Bitcoin US Dollar Futures, sized for both institutions and individuals, and does not charge for market data or trading access.
