Ex-Goldman, Paribas Execs Launch Bitcoin Derivatives Exchange
A new bitcoin derivatives trading platform called Crypto Facilities has launched in London, backed by a pair of co-founders with longtime experience in the City's traditional financial markets. Crypto Facilities currently lets customers trade just one instrument, a forward contract on the bitcoin price. It currently offers the contract with three expiry dates. A trader can lock in the price of a bitcoin by selling or shorting a forward. The platform's pedigreed co-founders are Timo Schlaefer, a former executive director at Goldman Sachs in London that worked on credit quantitative....
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A former employee of Goldman Sachs and BNP Paribas SA has started his own bitcoin exchange based in Japan, and according to a Tuesday report published by Bloomberg Businessweek, he's already managed to receive a sizable investment. The formation of Yuzo Kano's bitFlyer began at the start of the year, just before the disastrous collapse of Mt. Gox in February. Kano worked at Goldman Sachs beginning in 2001 (having graduated from Tokyo University with a degree in fluid dynamics) right out of college as an analyst, eventually moving to BNP Paribas SA to begin a trading career. Eventually, he....
Investment bank Goldman Sachs has reportedly begun offering a bitcoin investment product to clients. The firm has opened up trading with non-deliverable forwards, a bitcoin derivatives product. To hedge against the cryptocurrency’s volatility, Goldman Sachs will trade bitcoin futures on CME Group. Goldman Sachs Begins Offering Bitcoin Product to Clients Investment bank Goldman Sachs “has opened up trading with non-deliverable forwards, a derivative tied to bitcoin’s price that pays out in cash,” Bloomberg reported Thursday. The firm is protecting itself from....
Federally regulated bitcoin exchanges seem to be becoming a trend. Paul Chou, a consultant and former Goldman Sachs trader is readying LedgerX Bitcoin derivatives exchange and clearing house. LedgerX seems like a service that could help Bitcoin derivatives come a step closer to additional legitimacy by being fully regulated. While working for Goldman Sachs, Chou was responsible for the development of algorithmic strategies for equity trading for U. S. and Japanese markets. He also developed a set of cross-asset strategies and devised a method to unify and optimize the trade flow across....
Bitcoin derivatives startup Hedgy has raised $1.2m in new seed funding from a group of 10 investors that includes Draper Fisher Jurvetson partner Tim Draper, Salesforce CEO Marc Benioff and Sand Hill Ventures. In conjunction with the announcement, Hedgy has also launched a new derivatives product aimed at commercial bitcoin miners. Miners that use the derivative can effectively lock in a future price at which they can sell bitcoins, using a smart contract to settle the transaction on the bitcoin blockchain. Drawing price metrics from TradeBlock, the new product is the result of a....
FTX has sought to integrate brokerage services internally to fulfill trades automatically, however, CFTC has called for greater scrutiny of the demand as it would lead to a monopoly of big players. Goldman Sachs, one of the leading investment banks in the United States is reportedly trying to onboard some of its derivatives products into FTX.US crypto derivatives offerings.Goldman Sachs has been in talks with FTX over regulatory and public listing help, and aims to expand into crypto derivatives offering by leveraging some of its own derivatives tools and services, reported....