Tera Exchange has added Coinsetter as one of its venues for calculating its Tera Bitcoin Price Index, which it publishes for derivatives based on Bitcoin’s traded price.
Coinsetter launched its exchange in July, stating to provide a solution “built on Wall Street, for Wall Street” with a low-latency platform that executes trades within 40 milliseconds.
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Tera’s platform for trading bitcoin-based swaps was approved by the US Commodity Futures Trading Commission (CFTC) in September. Key to the approval was the creation of this index for tracking the underlying bitcoin price. The index compiles and filters real-time data to ensure the integrity of index values. Said Leonard T. Nuara, President and co-founder of Tera Exchange:
“We are committed to creating a sound marketplace for bitcoin derivative trading, and a robust price index is a critical component of this. To continue to be adopted as the market standard, the TeraBit Index needs to be reflective of the underlying market, and as such we are excited to include Coinsetter prices.”
Just over one week ago, North American Derivatives Exchange (Nadex) announced its offering of binary options based on the price index.