Okex, CME and FTX Fast Tracks Launch of Bitcoin Options Trading this Week

Bitcoin Futures market on CME began at the peak in its price on 18th December 2017. Almost two years after that, the market is now rushing towards launching options trading as well.

CME moves to launch the options market on its futures contracts as early as Monday, next week. Moreover, there are other big players in the crypto markets doing the same.

CME Options Market Specifics (Source)

FTX announces a release in less than 24 hours as to capture the hype of the moment. SBF, the CEO of FTX Exchange and with Alameda research tweeted,

FTX is planning to launch options in the next 24 hours!

As reported earlier on CoinGape, Okex had also announced the launch of the Okex Options to compete with Bakkt in the race. Subsequently, on 9th January 2019, the exchange released the product.

#OKExOptions: The much-awaited BTC/USD Options is NOW LIVE on OKEx 📢

We’ve also donated 150 BTC to the BTCUSD Options insurance fund minimize the risk of clawback. Happy trading!

View details: https://t.co/tu1zDJ3Siu pic.twitter.com/P1JPneKZZc

— OKEx (@OKEx) January 9, 2020

The options contracts are similar to futures market except the invariability in time of closing of the contracts increases the amount of speculation on the asset.

The launch of the regulated futures market marked the end of the bull run in 2017. Nevertheless, currently, the price is at the brink of another parabolic run. Of course, the accumulation and consolidation periods could extend further given the number of active traders in the market.

While the immediate effect on price can be arbitrary, the launch of options across various platforms at the same time signal growth of crypto assets.

LedgerX Co-Founder, Zach Dexter also tweeted after recently re-joining the management team that,

@ledgerx will recommit to the core platform experience, focus on launching additional derivatives products and tradable assets, and drive retail adoption by letting our customers do more with bitcoin on mobile and on the platforms where they already trade

The exchanges and derivatives market are the back-bone of crypto assets at the moment. Moreover, they are one of the few entities that generate a strong revenue in the industry. Traditional players in the market will be deeply enthusiastic of the options market as the exchanges will look to offer larger liquidity and better prices.

How soon do you think Huobi, Bitfinex, Binance, BitMEX and so on will launch their products? Please share your views with us. 

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from Coingape https://coingape.com/cme-okex-ftx-options-trading/