The availability of Bitcoin futures on several exchanges is having ripple effects on the rest of the financial services industry. CBOE has already supported these instruments with CME Group slated to launch them next week. Consequently, MarketFactory has configured its Whisperer API to seamlessly trade Bitcoin futures, augmenting its low latency API used in FX trading.
The hype for Bitcoin futures trading is real, with this week’s support via CBOE already seeing strong demand from the retail space. Ahead of next week’s launch of Bitcoin futures on CME Group, MarketFactory will be harnessing its API and connectivity suite for trading these instruments.
Despite fears of thin liquidity after CBOE’s launch however, CME Group’s offering of Bitcoin futures is steaming full speed ahead for December 18.
ATFX Q1 2020 Market Outlook Report: Weighing Geopolitical FactorsGo to article >>
Earlier this month, the US Commodity and Futures Trading Commission (CFTC) made a landmark decision to allow both CME Group and the CBOE to list Bitcoin futures. So far, institutional investors have largely stayed out of the market amidst increasing worries about the clearing of the contract.
Matt Whitaker, Director of Product Management, MarketFactory, commented: “Our Whisperer API and connectivity solution simplifies and reduces our client’s technical cost of entry to new currency markets, and with that in mind, we are pleased to announce that BTC futures are already available to trade via our CME integration.”
“Traditionally, futures contracts are seen as a means of damping down market volatility by bringing risk hedgers and speculators into an ordered market consensus. It remains to be seen how this can be the case with cryptocurrencies today, but should our clients wish to participate they have the certainty of Whisperer’s ultra-low latency architecture and network connectivity to ensure the best advantage possible when trading in highly volatile markets,” he added.