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BitMEX is kicking the tires on options; launch could come in 12 months

Frank Chaparro
Trading Technologies, a Chicago firm that offers a platform to trade derivatives, equities, and crypto, announced Tuesday a partnership with BitMEX that would allow its users to trade crypto perpetual swaps alongside other cryptocurrency assets on its platform. The post A Chicago trading tech firm is partnering with BitMEX to unleash crypto derivatives on professional traders appeared first on The Block.

BitMEX, one of the largest cryptocurrency exchange operators, is looking to expand into new derivatives products tied to the nascent market, its CEO said on an industry podcast. 

Arthur Hayes, a former Citigroup trader, said the firm — which is known for its perpetual futures tied to bitcoin — is kicking the tires on options, a move that could put it up against rival Deribit. "We hope to possibly have our own options platform in maybe 12 to 18 months," Hayes said during an appearance on Venture Coinist Podcast.

"We have somebody working with some university professors on a complicated new way of doing this," Hayes said. Options, like futures, provide a way for investors to hedge their positions in an underlying asset. Specifically, an option provides a trader the right to purchase a certain amount of an asset at a set price in the future.