Crypto Exchange EQONEX expands suite of professional trading products with launch of Dated Futures
EQONEX has announced the launch of BTC Dated Futures with physical settlement, enhancing its product offerings for experienced cryptocurrency traders. This follows previous introductions of Cross Collateral and Ethereum Perpetual Futures. The Dated Futures allow users to trade BTC at a predetermined price, mitigating hedging risks. EQONEX is among the few exchanges providing this feature, backed by a secure custody solution from Digivault. The interim CEO highlighted the need for regulated trading products, aiming to bridge traditional and crypto finance.
- Launch of BTC Dated Futures enhances EQONEX's product suite.
- Offers unique physically-settled futures for cryptocurrencies like BTC.
- Educational resources provided for traders to explore futures trading.
- None.
SINGAPORE, Feb. 9 2022 /PRNewswire/ -- Cryptocurrency Exchange EQONEX, as part of EQONEX Limited (Nasdaq: EQOS), today announced the launch of BTC Dated Futures with physical settlement. This marks an important milestone in the company's expanding product suite for experienced traders, enabling them to use commonly deployed derivatives trading strategies in cryptocurrency markets.
This latest launch by EQONEX follows the introduction of Cross Collateral functionality, Ethereum (ETH) Perpetual Futures, and BTC Perpetual Futures in 2021. Dated Futures for additional cryptocurrencies including ETH will also be available on EQONEX in the coming months.
A Dated Futures contract enables users to enter into a binding agreement to buy or sell the underlying asset, in this case BTC, at a predetermined price at a specified date in the future. Futures contracts are commonly used to speculate on the direction of an underlying asset using leverage, and hedge against price movements.
EQONEX is one of the few exchanges globally to offer physically-settled futures contracts for cryptocurrencies such as BTC. EQONEX is able to overcome common security and technical challenges of physical BTC settlement due to its industry-leading, secure custody business Digivault and its fiat on-ramp capabilities.
Andrew Eldon, Interim CEO of EQONEX said, "We still see a gap in the exchange marketplace to better serve traders who are looking for safe access to products and strategies from traditional finance to exploit and hedge against the volatility of crypto market trading. We are removing the barriers to entry by delivering a regulated crypto exchange, and by adding institutional-grade products to our customers' toolkits."
"We have been very deliberate in building a business that sits at the intersection of traditional finance and the future of finance. Those who already understand the merits of basis trading will be particularly appreciative of this product launch, but we are also providing educational resources to help those wanting to learn how to broaden their trading approaches for risk management or to capture yield."
Overview of EQONEX BTC Dated Futures
- EQONEX BTC Dated Futures are denominated in the USD Coin stablecoin (USDC) and are linear in that the price of the futures increases as the price of BTC increases against USDC.
- The expiry of the Dated Future will occur at 08:00 UTC on the final Friday of the expiry month.
- Physical settlement occurs automatically on the expiry date which can also remove some hedging risks that exist with cash-settled contracts.
- Users can trade EQONEX BTC Dated Futures with leverage.
- EQONEX is offering an education program for those seeking to learn more about futures contracts for cryptocurrency markets, as well as detailed product specifications here.
About EQONEX Group
EQONEX Group is a digital assets financial services company focused on fairness, governance, and innovation. The group encompasses cryptocurrency exchange EQONEX as well as an over-the-counter trading platform. It also offers a front-to-back integrated trading platform, Access Trading, a securitization advisory service EQONEX Capital, market leading hot and cold custodian Digivault, and asset manager Bletchley Park.
For more information visit: https://group.eqonex.com.
Follow EQONEX on social media on Twitter @eqonex, on Facebook @eqonex, and on LinkedIn.
This press release is provided by Eqonex Limited (f.k.a. Diginex Limited "Eqonex") for information purposes only, is a summary only of certain key facts and plans of Eqonex and includes forward looking statements that involve risks and uncertainties. Without limitation, the press release does not constitute an offer or solicitation in relation to any securities or other regulated products or services or to make use of any services provided by Eqonex, and neither this press release nor anything contained in it will form the basis of any contract or commitment whatsoever. This press release has not been reviewed by any regulatory authority in any jurisdictions. Forward looking statements are statements that are not historical facts and are subject to risks and uncertainties, which could cause actual results or outcomes to differ materially from the forward-looking statements. Most of these factors are outside of Eqonex's control and are difficult to predict. Factors that may cause such differences include, but are not limited to: Eqonex's limited operating history and history of net losses; Eqonex's ability to execute its business plan; the rate and degree of market acceptance of Eqonex's products; failure to obtain the requisite regulatory licenses and qualifications or establish partnerships with entities in certain jurisdictions to satisfy regulatory requirements; changes in laws or regulations; litigation and regulatory risks; Eqonex's inability to successfully identify, hire and retain skilled individuals; competition; Eqonex's inability to successfully develop technology to service its business lines and keep pace with rapidly changing technology and client or regulatory requirements; risks of cyber incidents; reliance on vendors and third-party service providers; inability to protect or preserve its proprietary rights and the risk of infringing on the intellectual property rights of others; potential conflict of interest arising from managing different business lines; risks of employee misconduct and manipulation of distributed ledger networks and smart contract technology by malicious actors; risk of Eqonex losing access to its private keys or data loss relating to its digital asset investments; the ability of Eqonex to grow and manage growth profitably; general economic and market conditions impacting demand for Eqonex's products and services, other business line specific risks and such other risks and uncertainties included in Eqonex's Form 20-F filed with the U.S. Securities and Exchange Commission (the "SEC") on June 30, 2021, including those under "Risk Factors" therein, and in Eqonex's subsequent filings with the SEC, which are available on the SEC's website at www.sec.gov.
In addition, any forward-looking statements contained in this press release are based on assumptions that Eqonex believes to be reasonable as of this date. Eqonex undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.
Copyright (c) Eqonex Limited 2022.
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SOURCE EQONEX
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