The firm plans to launch its binary options offering next month, subject to a CFTC filing as the company’s CEO Tim McDermott shared with our reporters that the regulator is the most proactive one in relation to Bitcoin.
According to a company announcement, IG’s CFTC regulated exchange, the North American Derivatives Exchange (Nadex), proclaimed that subject to a filing with the U.S. Commodities and Futures Trading Commission (CFTC), it will offer its clients the ability to trade Bitcoin derivatives through binary options contracts.
The offering is expected to go live in early December, starting with daily and weekly Bitcoin binary options contracts with price quotes obtained from TeraExchange's Tera Bitcoin Price Index ("TeraBit Indexsm”).
While Tera Exchange offers swaps based on its TeraBit Index for institutional traders, the soon-to-be-available offering by Nadex pioneers a new investment product for the for U.S. retail investors.
The effort put in by the company was in response to a rising demand from its customers, with the process of finalizing the product offering passing through due diligence before going live.
Speaking to Forex Magnates' reporters, the company’s CEO Tim McDermott shared, “Nadex had to go through the steps required in developing any contract for listing on a regulated exchange. In terms of the process of filing with the CFTC, however, we had to submit the proposal formally prior to launch, but we have been in discussions with CFTC staff in advance of that expected filing.”
“The CFTC has probably been the most proactive regulator in a positive way in connection with Bitcoin, in terms of looking at the potential benefits that digital currencies and a distributed Blockchain can offer the financial markets and the commercial world generally,” he concluded.
In the U.S., binary options contracts have to be traded on an exchange, regulated by the CFTC. The offering is known in the industry as all-or-nothing-options, with the investor purchasing a contract on an exchange, with the payoff conditional to only two possible outcomes: a fixed amount or nothing at all.
Mr. McDermott elaborated on the offering explaining, ”Our innovative short-term contracts provide a way to trade in a transparent, regulated market where the trader's exposure is known before any transaction is executed. This is especially valuable given the Bitcoin price volatility that has often been experienced in the marketplace."
The selection of the TeraBit index has been the most prominent option for Nadex, since it is the only Bitcoin price index calculated by a CFTC regulated company.
TeraExchange’s President and co-Founder, Leonard T. Nuara, elaborated in the announcement, ”By working with Nadex to launch its Bitcoin binary options, we are thrilled to help make another regulated marketplace available to those looking to take directional views on Bitcoin.”
Best of all, U.S. retail investors are getting an opportunity to make investment decisions based on the price of Bitcoin without actually holding on to the digital currency and exposing themselves to the rapid price swings in the market.
According to a company announcement, IG’s CFTC regulated exchange, the North American Derivatives Exchange (Nadex), proclaimed that subject to a filing with the U.S. Commodities and Futures Trading Commission (CFTC), it will offer its clients the ability to trade Bitcoin derivatives through binary options contracts.
The offering is expected to go live in early December, starting with daily and weekly Bitcoin binary options contracts with price quotes obtained from TeraExchange's Tera Bitcoin Price Index ("TeraBit Indexsm”).
While Tera Exchange offers swaps based on its TeraBit Index for institutional traders, the soon-to-be-available offering by Nadex pioneers a new investment product for the for U.S. retail investors.
The effort put in by the company was in response to a rising demand from its customers, with the process of finalizing the product offering passing through due diligence before going live.
Speaking to Forex Magnates' reporters, the company’s CEO Tim McDermott shared, “Nadex had to go through the steps required in developing any contract for listing on a regulated exchange. In terms of the process of filing with the CFTC, however, we had to submit the proposal formally prior to launch, but we have been in discussions with CFTC staff in advance of that expected filing.”
“The CFTC has probably been the most proactive regulator in a positive way in connection with Bitcoin, in terms of looking at the potential benefits that digital currencies and a distributed Blockchain can offer the financial markets and the commercial world generally,” he concluded.
In the U.S., binary options contracts have to be traded on an exchange, regulated by the CFTC. The offering is known in the industry as all-or-nothing-options, with the investor purchasing a contract on an exchange, with the payoff conditional to only two possible outcomes: a fixed amount or nothing at all.
Mr. McDermott elaborated on the offering explaining, ”Our innovative short-term contracts provide a way to trade in a transparent, regulated market where the trader's exposure is known before any transaction is executed. This is especially valuable given the Bitcoin price volatility that has often been experienced in the marketplace."
The selection of the TeraBit index has been the most prominent option for Nadex, since it is the only Bitcoin price index calculated by a CFTC regulated company.
TeraExchange’s President and co-Founder, Leonard T. Nuara, elaborated in the announcement, ”By working with Nadex to launch its Bitcoin binary options, we are thrilled to help make another regulated marketplace available to those looking to take directional views on Bitcoin.”
Best of all, U.S. retail investors are getting an opportunity to make investment decisions based on the price of Bitcoin without actually holding on to the digital currency and exposing themselves to the rapid price swings in the market.
Interactive Brokers Expands Offerings with Daily Options on French Stocks
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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