BitMEX Is Growing: Partners Up With Chicago-Based Trading Technologies (TT)
Popular cryptocurrency exchange BitMEX, characteristic with its high leveraged trading, has partnered up with Chicago-based Trading Technologies (TT) in an effort to bring cryptocurrency trading to professional traders.
BitMEX and Trading Technologies
The most popular cryptocurrency margin exchange, BitMEX, has recently announced a partnership with the Chicago-based firm Trading Technologies. The latter offers a comprehensive platform to trade derivatives, as well as equities and cryptocurrencies to their professional traders.
According to the announcement, the partnership will allow Trading Technologies (TT) users who are eligible to trade at BitMEX to gain access to all of the products that BitMEX exchange offers, including the most popular one – the XBTUSD Perpetual Swap.
The perpetual swap is a derivative product which is fairly similar to a traditional futures contract. However, it doesn’t have an expiry or settlement date. Moreover, it’s designed to mimic a margin-based spot market and it trades to an underlying reference Index Price.
Commenting on the matter was Arthur Hayes, CEO at BitMEX, who outlined:
“Like Trading Technologies, BitMEX is committed to providing innovative financial products and a seamless experience for sophisticated traders. By combining our robust technologies, this partnership will not only extend BitMEX’s unique services to Trading Technologies’ discerning clients, but advance our mutual vision to unlock access to cutting-edge cryptocurrency products.”
Advancing Crypto to Professional Traders
As noted, the platform of Trading Technologies already provides traders with the ability to trade Bitcoin futures contracts on US-based exchanges which include CME and CBOE. it also offers cryptocurrencies which are supported on Coinbase.
Perpetual swaps, on the other hand, represent a unique product in the crypto derivative space, which will now allow professional traders to synthetically trade the underlying cryptocurrency asset.
According to the CEO of Trading Technologies, Rick Lane, the move is expected to grow the trading volume on BitMEX, which is already the highest by means of Bitcoin trading, as it will not only bring existing TT clients who seek exposure to crypto assets, but it will also bring new users who are looking to leverage professional trading software.
The post BitMEX Is Growing: Partners Up With Chicago-Based Trading Technologies (TT) appeared first on CryptoPotato.
