Arthur Hayes, co-founder and CEO of major crypto derivatives exchange BitMEX, has revealed that the company is hoping to open an options platform within 12-18 months.
Arthur Hayes, co-founder and CEO of major crypto derivatives exchange BitMEX, has revealed that the firm is hoping to open a cryptocurrency options platform in the medium term. Hayes made his remarks during an interview on the Venture Coinist podcast on April 12.
Hayes — a former equities trader for Citigroup — indicated a rough timeline for the prospective launch, stating that:
“We hope to possibly have our own options platform in maybe 12 to 18 months.”
Hayes hinted at aspirations to innovate options listing, saying “we have somebody working with some university professors on a complicated new way of doing this.”
Options are a type of financial derivative that give a buyer the right — but not the obligation — to buy or sell an asset at an agreed price in future. They are designed to serve as strategies for hedging, protection or speculation in different market conditions.
BitMEX was founded in 2014 and currently sees close to $1.1 billion in daily traded volume, making it one of the world’s largest crypto exchanges by reported volume. As a derivatives-only platform it is, however, not included in CoinMarketCap’s price and volume averages for Bitcoin (BTC).
As previously reported, Hayes has recently predicted that Bitcoin will get back to the $10,000 price point this year, anticipating the market recovery will begin in early Q4 2019.
Alongside its trading platform, BitMEX also conducts research into the crypto industry, in January releasing a report on the impact of the 2018 bear market on ICO projects’ token holding valuations.
That same month, the exchange refuted media reports that had alleged it was closing United States and Québec residents’ accounts due to a regulatory crackdown, claiming they were inaccurate and sensationalist.
Source: , CoinTelegraph
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