The second largest stock exchange in the world Nasdaq has entered into a partnership with investment firm VanEck to start new financial products, according to CoinDesk.
About the partnership the two giants of the world of Finance became known in the course of the conference organized CoinDesk Consensus: Invest. VanEck Director of strategy in the field of digital asset Gabor Gorbach announced the creation of a “regulated futures contracts type-version 2.0”. According to him, the new financial products will appear on the market in the next year.
“I would like to mention that we put a lot of effort together with the Commission on trade in commodity futures, to develop new standards for storage and monitoring,” added Gurbaj.
According to him, the initiative should be seen as a kind of “update” of the existing regulatory norms in the market bitcoin futures. He also notes that new derivatives will be used developed by the Nasdaq system control SMARTS. The price will be formed on the basis of the developed VanEck index MVIS. This approach, I am sure Gorbach, “will give confidence to regulators and organizations seeking to enter into the cryptocurrency market.”
SMARTS is a software that supports a variety of algorithms to automatically identify suspicious market activity, including spoofing and wash trading. Gorbach calls this system the “engine big policeman.” According to him, this technology will enable the futures “fair and orderly”.
Chapter VanEck did not specify whether the new futures calculated (as at the CME or the CBOE) or deliverable (as the upcoming launch of Bakkt). However, he does not exclude that these financial products will appear on the market in the first quarter of next year.
Note that the decision of the Commission on securities and exchange Commission (SEC) on secured physical bitcoin ETF, VanEck developed in partnership with blockchain company SolidX, must be made by 27 February 2019.
“We are confident that if the 2018 was the year of regulation, then 2019 will be the year of implementation”, — concluded the head VanEck. Discuss current news and events on the Forum
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