MARKTS, the crypto order and execution management system (OEMS) subsidiary of TradeScreen, has announced on Wednesday its partnership with Deribit to offer digital asset options contracts to the institutional traders.
“Our collaboration with Deribit meets rising client demand to trade crypto options. As a multi-asset platform, it is pivotal that we continue to aggregate high-end connectivity for our clients,” Alex Carteau, Head of MARKTS at TradingScreen, said.
MARKTS will directly connect Deribit with its OEMS platform which, according to the press release, will not only allow the institutions to trade crypto options but also manage the volatile market risks.
Growing demand for crypto derivatives
The company also detailed that the volatility in the cryptocurrency market post-halving has driven many institutional hedge funds and asset managers in the new asset-class market.
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“As the crypto market continues to mature, we will continue to stay one step ahead by ensuring institutional investors can trade digital assets reliably and effectively,” Carteau continued.
Meanwhile, the demand for crypto derivatives continued to grow. CME Group recently saw a major uptick in the demand for its offerings of both Bitcoin futures and options contracts. CME Bitcoin options even captured 20 percent of the total market hare recently.
Deribit, however, remains at the helm of the crypto options market with 80 percent of the total market share.
“The new integration with TradingScreen is one less hurdle for institutional investors who want to enter the crypto derivatives market. We are very happy to see that the vast TS institutional buy-side client base is now able to trade on Deribit using their trusted OEMS in an uncomplicated manner,” John Jansen, CEO at Deribit, added.
In April, MARKTS enhanced its cryptocurrency offerings by integrating Seed Digital Commodities Market’s (SCXM) solutions.