×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: bitcoin | wall street | pros | trade

Bitcoin's About to Get Easier for Wall Street Pros to Trade

Bitcoin's About to Get Easier for Wall Street Pros to Trade
(Mikhail Primakov/Dreamstime)

Thursday, 25 January 2018 10:44 AM EST

The company that developed one of the most popular pieces of trading software is about to make it easier for professionals to bet on cryptocurrencies such as Bitcoin.

Trading Technologies International Inc., whose products let traders buy and sell on major exchanges, plans to add the cryptocurrency marketplace Coinbase Inc. to its roster of venues in March, according to a statement on Thursday.

Coinbase, the biggest U.S. crypto market, offers Bitcoin, Bitcoin Cash, Ether and Litecoin.

This will strengthen ties between the professional trading community and cryptocurrencies, letting them use software they’re already accustomed to. And the connection might enable arbitrage between Bitcoin and the Bitcoin futures contracts offered by Cboe Global Markets Inc. and CME Group Inc., which Trading Technologies customers can already trade.

“Institutions are trading with increasing frequency and regularity in these markets, although they’re doing so without institutional-grade, professional-grade technology,” Rick Lane, the chief executive officer of Trading Technologies, said in a phone interview.

“They’re largely underserved and there’s a lot of trading volume and trading opportunity left on the table.”

TT, as the company is known, says it counts 19 of the 20 largest firms that deal in futures as customers and connects to nearly 45 markets around the world. Cboe and CME started offering Bitcoin futures on their exchanges last month.

Together, they handled contracts worth about $150 million of Bitcoin on Wednesday, according to data compiled by Bloomberg.

The partnership between TT and Coinbase “will absolutely move the needle in terms of the futures volume,” Lane said.

© Copyright 2023 Bloomberg News. All rights reserved.


Markets
Trading Technologies International Inc., whose products let traders buy and sell on major exchanges, plans to add the cryptocurrency marketplace Coinbase Inc. to its roster of venues in March, according to a statement on Thursday.
bitcoin, wall street, pros, trade
254
2018-44-25
Thursday, 25 January 2018 10:44 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved