HitBTC Partners With World’s First Licensed Bitcoin Derivatives Platform TeraExchange
HitBTC, the cryptocurrency exchange known for its technological innovations, and TeraExchange, a swap execution facility registered with the Commodity Futures Trading Commission, signed an agreement to provide an accurate and timed reference point for the first regulated platform for Bitcoin derivatives.
According to the agreement, HitBTC’s trading data is included in the TeraExchange Bitcoin Price Index. The Tera Bitcoin Price Index employs a dynamic algorithm that compiles and filters data on a real-time basis from a number of widely utilized global Bitcoin exchanges. HitBTC executes and maintains the information sharing agreement with TeraExchange in order to be included in the index, as required by the Commodity Futures Trading Commission.
“The structure of the Bitcoin swap marketplace reflects extensive client input, providing participants the benefits of transparent price discovery and efficient risk transfer.”
Leonard T. Nuara, President and co-founder of TeraExchange.
As a measure to ensure effective functioning of trading marketplaces HitBTC and TeraExchange agreed to jointly develop measures to counteract potential market manipulation and disruptive trading practices.
“Regulated Bitcoin swap trading provides institutional clients with a more efficient and confident way to hedge and trade. A robust price index also helps the growing Bitcoin trading community to accurately mark-to-market positions while establishing trust and stability in this growing global marketplace.”
Christian Martin, CEO and co-founder of TeraExchange.
Presently, both companies plan to extend cooperation and seek new opportunities to provide the best and most technologically advanced solutions for the benefit of their customers.
HitBTC, LLC
HitBTC, LLC is a leading and rapidly developing cryptocurrency exchange that provides trading services to institutionals, merchants and individual traders. The HitBTC trading platform is known for its state-of-the-art matching engine, multi-currency support (EUR, USD, and GBP) as well as for its friendly customer service.
To visit HitBTC please go to: https://hitbtc.com/
TeraExchange, LLC
TeraExchange, LLC is a Swap Execution Facility that is registered with the Commodity Futures Trading Commission and provides market participants with access to interest rate swaps, credit default swaps, non-deliverable forwards and Bitcoin swaps.
To learn more about TeraExchange go to: http://www.teraexchange.com/
© 2014 Hit Technologies, L.P. The information contained herein is subject to change without notice. Hit Technologies shall not be liable for technical or editorial errors or omissions contained herein.
Related News
TeraExchange, a New Jersey-based swap execution facility announced Thursday the completion of the first bitcoin derivatives transaction on a regulated exchange. The maiden transaction was completed between digitalBTC and a hedging counterparty. Incidentally, this first bitcoin derivatives transaction happened on the same day that the Commodities and Futures Trading Commission is hosting the Global Markets Advisory Committee in Washington DC. The public meeting includes a bitcoin derivatives-based panel discussion among CFTC Staff, academics and bitcoin industry participants including....
Update Sept 18: The popular cryptocurrency exchangeHitBTC signed an agreemen with TeraExchange, a swap execution facility registered with the Commodity Futures Trading Commission, to provide an accurate and timed reference point for the first regulated platform for Bitcoin derivatives. According to the agreement, HitBTC’s trading data is included in the TeraExchange Bitcoin Price Index. The Tera Bitcoin Price Index employs a dynamic algorithm that compiles and filters data on a real-time basis from a number of widely utilized global Bitcoin exchanges. HitBTC executes and maintains the....
TeraExchange, a New Jersey-based swap execution facility has launched its first regulated platform for Bitcoin derivatives and a spot BTC price index. The company that is registered with the Commodity Futures Trading Commission CFTC, announced the launch of the platform on Friday September 12th, 2014. Growing Demand for Bitcoin Derivatives. In a press release, the company stated that the Bitcoin Derivatives and Bitcoin Price Index platforms were created to meet the growing demand by global merchants, payment processors, miners and hedge funds for an efficient hedging tool. This new....
MGT Capital Investments has entered into an agreement with Tera Group that would find the operator of the first regulated bitcoin derivatives platform TeraExchange going public on the New York Stock Exchange (NYSE) MKT, the leading equities capital market for small cap companies. The New Jersey-based company framed the news as that which would open up the NYSE to a bitcoin venture for the first time. TeraExchange CEO Christian Martin and president and COO Leonard Nuara explained that the company had been looking to enter the capital markets for three months, and that in MGT it was able to....
TeraExchange has announced a new partnership with bitcoin security firm BitGo, a deal both parties view as a step toward bringing traditional trading standards to the bitcoin industry. The partnership, the companies said, will position TeraExchange as the only player in the bitcoin exchange industry to provide clients with the ability to collateralize bitcoin derivative trades. BitGo will provide multi-signature block chain services for the USD/BTC swaps on TeraExchange's platform, and in turn, TeraExchange will provide its clients with multi-signature escrow accounts where neither party....