British cryptocurrency futures exchange Crypto Facilities in conjunction with CME Group launches support for futures contracts on the Bitcoin Cash (BCH).
Futures on the BCH will be available on the platform today from 16:00 British standard time (BST). The platform already supports futures contracts for bitcoin (BTC), ether (ETH), Ripple (XRP) and litecoin (LTC). Users will be able to trade futures on bitcoin and short on cash, and long positions that will expand the investment opportunities and reduce the risks associated with them.
As told CEO of Crypto Facilities Slifer Timo (Timo Schlaefer), bitcoin cash is now ranked fourth in the ranking of cryptocurrencies in terms of market capitalization, so the decision to add support for the currency on the platform was expected and logical. Based on the analysis of the previous updates, Slifer assumes that the BCH futures will be popular among customers.
“Our average daily trading volumes ranging from $20-60 million, but could reach $180 million per day. We expect the futures to cash bitcoin to trade as successfully as in other cryptocurrencies,” — said Slifer, — “in 2015 we observe a steady growth of the market of cryptocurrency derivatives and in the previous year this process was particularly intense”.
To launch new futures contracts, Crypto Facilities has partnered with a Chicago stock exchange CME Group, as has its own divisions in the United States. Also, a British company, maintains index of bitcoin prices, which are used by CME Group to settle their futures contracts for BTC.
Recall that the futures Ethereum Crypto Facilities has launched in may, and litecoin in June. It is worth noting that the exchange’s operations is monitored by the Office of financial regulation in the UK.
