American company LedgerX, which became the first platform, which received the approval of the Commission on trade commodity futures U.S. (CFTC) to issue cryptocurrency derivatives is set to launch similar products on the basis of the ether. It is reported The Block, citing sources familiar with the situation.
According to sources, currently LedgerX expects “green light” from regulators, and then will present their new product. Officially, the company has not yet confirmed this information, but the source reports that, if approved, launch of new products may take place after the CFTC meeting on 5 October.
LedgerX has released the derivatives of digital currency in October 2017, two months ahead of cryptocurrency futures contracts the CBOE and CME. Currently, the firm offers a one-day futures and options through which traders can buy the right to purchase or sell an asset at a fixed price in the future. Similar products LedgerX will launch for broadcasting.
According to the publication, these options will allow traders to “short” the price of ether, resulting in the so-called bilateral market. According to experts, the emergence of derivatives on the basis of air may lead to a short-term fall in the price of the cryptocurrency. For example, some studies have shown a link between the current decline of the market of digital assets and launch the first regulated bitcoin futures.
At the same time, new products can have a positive impact on pricing-which will increase the interest of large financial companies and to the cryptocurrency as an asset class in General and ether in particular. In addition, through options professional investors and miners will be able to hedge profits and reduce risks associated with price volatility.
Earlier it became known that the operator of the Chicago Board options exchange CBOE Global Markets, told the market makers that the end of the year plans to launch futures on the air. At the same time the General Director of CME Group Terry Duffy (Terry Duffy) said that their platform futures for broadcast in the near future will not appear.