• Mon, 15 Jul 2019, 06:29 PM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

TP ICAP enters crypto business to trade bitcoin futures

Wed, 26 Jun 2019, 06:19 am UTC

TP ICAP, the largest interdealer broker in the world, is opening its digital doors to bitcoin trading with the launch of its Digital Asset Markets business.

As per its press release, the broker will initially operate in the cryptoasset derivatives space and provide over-the-counter liquidity for the Chicago Mercantile Exchange’s bitcoin futures and plans to expand to include a bitcoin non-deliverable forward contract tied to the largest cryptocurrency.

We have been closely monitoring the development of this emergent asset class and recognize the transformational effect that the underlying technology could have on our industry,” Frits Vogels, CEO TP ICAP EMEA, said.

ICAP’s new venture will initially run from London, with plans of expanding its trading desks to Asia and the United States.

We believe that cryptoassets are only a subset of a wider universe of digital assets that could be created through the use of this technology, and that the tokenisation of value could have application across multiple traditional asset classes,” Vogels said.

TP ICAP is also reportedly looking at other potential opportunities in the digital asset sector.

A report from Bloomberg pointed out that to access the firm’s services, customers are required to comply with Know Your Client (KYC) and Anti-Money Laundering (AML) protocols. It also revealed that TP ICAP is considering other digital assets, including altcoins and tokenized assets.

Meanwhile, crypto futures exchanges Bakkt recently announced that it will begin testing its first product, physically delivered bitcoin futures on July 22, listing two future contracts including a daily settlement bitcoin and a monthly bitcoin futures contract.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $10,640.00 (+0.74%)
  • Ethereum (ETH) $231.11 (-2.73%)
  • XRP (XRP) $0.316700 (+0.78%)
  • Litecoin (LTC) $91.04 (+0.73%)
  • Bitcoin Cash (BCH) $316.86 (+2.25%)
  • Bitcoin (BTC) $10,640.00 (+0.74%)
Jul 15, 2019 (Monday)
13:14
Crypto Technicals: XRP/USD extends weakness below 200-DMA, on track to test trendline support at 0.28
13:10
Draft of India’s cryptocurrency ban bill surfaces online
11:57
Shinhan Card patents blockchain-based system with credit card functionality
11:12
IOTA, MOBI, SAP, Deutsche Telekom and others join Convergence Alliance focused blockchain, AI, IoT
11:12
Crypto Technicals: LTC/USD pauses downside at 84 handle, bias still bearish
10:28
Crypto Technicals: BTC/USD holds support at 55-EMA (9854), break below will see further weakness
10:15
Enterprise blockchain firm R3 eyes IPO: Report
09:36
Bank of Thailand reviews blockchain applications in multiple areas
08:51
PayFast to stop accepting Bitcoin as payment method due to high fees, slow process time
07:17
U.S. lawmakers seek to prevent big tech companies from offering cryptocurrencies
06:03
Georgia VAT-exempts cryptocurrencies
05:50
Bitpoint Japan finds part of stolen cryptocurrency
05:02
South Korean companies team up to build blockchain-based identification system
Jul 12, 2019 (Friday)
11:40
Litecoin becomes official cryptocurrency of American football team Miami Dolphins
10:48
Crypto Technicals: Ripple breaks below 200-DMA, opens up further downside
10:40
Japanese cryptocurrency exchange Bitpoint loses $32M to hackers
09:40
US Election Commission to approve Congressional candidate's Ethereum token giveaway plans
09:16
HSBC reduces transaction time by 12 Days using Voltron blockchain platform
09:07
Amazon, Deloitte, Fidelity support IDEO CoLab's free blockchain accelerator program
09:05
Turkey considers developing central bank digital currency
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft