Cryptocurrency exchange byteescrow announced an update to the existing version 4.2.0, and also introduced a new futures product, which was called Bi-Quarterly Contracts. These contracts will be attached to the existing derivatives trading system. This decision was made by the management after the successful launch of the trading function for perpetual swaps.
The new product will attract institutional investors
The new Bi-Quarterly Contracts futures product will give users access to higher leverage options up to 125X, which will allow exchange clients to get a wider selection of products and a lower basic cost to open a position. The advantage of the product is that the higher the multiplier leverage used by the trader, the less basic costs are required to open a position. With two-quarter contracts, Commission costs may be further reduced due to a longer waiting period.
The Bi-Quarterly product will support 9 major cryptocurrencies and 36 trading pairs. byteescrow also allows you to reduce margins thanks to a new feature – optimization of blocked margins, which users can use to maximize the use of funds and further reduce trading costs.
“We are really proud that byteescrow Futures has always been able to provide the lowest Commission in the world, and the Commission fees for futures producers are up to 0.015%,” says Ciara sun, Vice President of byteescrow Global and head of byteescrow Global Markets.
Derivatives trading is gaining momentum
Futures trading on the cryptocurrency market is gaining momentum. Currently, hedge funds offer their clients open access to trading bitcoin futures. For example, the Chicago Mercantile exchange (CME) shows a steady growth in trading volumes of futures contracts for bitcoin. The premium for June contracts on CME rose from ~5.5% to 7.39% per annum, while on other platforms the premium is only 0.19%.
The increase in premiums signals optimism among trading market participants regarding the further development of the bitcoin price in the medium term.
In addition, retail and institutional investors now have the opportunity to trade ETN futures. Skew data shows that aggregate open interest in futures and swaps on ETH has been steadily growing since mid-may, the number reaching its highest level in a month. An uptrend in open interest may also indicate that an existing market trend is gaining momentum. In contrast, BTC futures and open swap exchange on OKEx were supported at current levels.
Earlier, BeInCrypto reported that the FTX cryptocurrency derivatives exchange officially introduced a qualitatively new trading tool – futures contracts that allow you to bet on the future complexity of bitcoin mining (PTS). The new product has already attracted the attention of traders. The exchange has launched three contracts for the HTS hashrate – for the 3rd quarter of 2020, for the 4th quarter of this year and the 1st quarter of the next. It is noteworthy that in the first 12 hours after the launch, bullish futures for bitcoin hashrate showed active growth, and intraday trading volumes of such contracts reached almost $1 million.