Deribit and Paradigm Launch Crypto Derivatives Block Trading
Helen Partz's original article for cointelegraph.com reduced by 75%
Dutch crypto derivatives exchange Deribit launched a block trading solution in partnership with American trading communication platform Paradigm. World's first block trading tool for crypto derivatives. The institutional block trading solution is reportedly the first one of its kind offered by a crypto-derivatives exchange, the firms said in a press release shared with Cointelegraph on Aug.
22. The new block trading solution intends to enable institutions to directly negotiate crypto-derivative trades via chat on Paradigm, while agreed information is automatically directed to Deribit for execution and clearing. By introducing the new tool, Deribit and Paradigm want to eliminate any execution risk associated with the order book when institutional traders privately negotiated large trades via Telegram or Skype and then manually coordinated execution on Deribit.
According to Jansen, options traders can now create a portfolio of put and call options in different variations and trade them by blocks, adding futures at the same time, instead of negotiating and trading options one at a time. Traders will have access to block trades in Bitcoin or Ether-backed futures and options, including spreads and combinations of the two products.
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Summarised crypto news.