CrossTower launches perpetual futures trading for qualified investors

Rick Steves

In March 2022, open interest in Bitcoin and Ether perpetual futures stands at c. $18 billion and $8 billion, respectively.

Bitcoin in a few hands

CrossTower has launched perpetual futures trading on its Bermuda digital exchange, available to qualified clients through the CrossTower Global Pro platform.

Expanding the firm’s service offering for qualified traders with Crypto perpetual futures trading will facilitate the shaping of risk for enhanced portfolio construction.

Perpetual futures are derivatives contracts that are not limited to a predetermined expiration date and empowers users to to take long and/or short positions, consistent with their portfolio and risk objectives. In the coming weeks, CrossTower intends to rollout perpetual futures trading in 20 top name tokens.

“Perpetual futures are truly compelling for portfolio construction”

Bitcoin perpetual futures, seen as a barometer for demand for crypto derivatives, hit record open interest in 2021, with average volumes of approximately $62 billion per day globally throughout last year. In March 2022, open interest in Bitcoin and Ether perpetual futures stands at c. $18 billion and $8 billion, respectively.

Kapil Rathi, Co-founder & CEO of CrossTower, said: “Perpetual futures provides investors critical tools that can facilitate and shape their investment objectives. The advantages of perpetual futures trading are truly compelling for portfolio construction, and we are thrilled to be contributing to the maturation of the digital asset ecosystem. CrossTower is developing cutting edge trading products and we are excited to be at the forefront of innovation.”

CrossTower offers a low-cost trading model with quality execution based on its capital markets expertise and track record. CrossTower posted record trading volumes in Q4 2021, with volume growing over 600% from the year ago period and more than 100% from the prior quarter.

The digital asset exchange company offers investment products, lending services and operates execution platforms for digital assets.

In 2021, CrossTower partnered with digital asset trading platform Omniex to enter its liquidity network which covers the industry’s most trusted exchanges and OTC (over-the-counter) venues. Omniex’s algorithmic trading and smart order routing tools give asset managers, active traders, and intermediaries including broker-dealers and OTC desks, consolidated order books across the top venues.

Also last year, the firm hired 25-year exchange industry veteran, Bryan Christian, as Global Head of Exchange to manage the firm’s US and global exchanges, product expansion, and growth of the company’s transaction business. Prior to CrossTower, he was Head of Institutional Services for ETF market maker Old Mission and Head of Sales at Cboe Global Markets.

Read this next

Digital Assets

BlackRock digs further into crypto with metaverse ETF

BlackRock, the world’s largest asset manager with almost $10 trillion in AUM, is set to launch a new metaverse ETF to help investors securely monetize on the booming immersive version of the internet.

Digital Assets

Binance wins license in New Zealand as rival Huobi shutters derivatives

Binance, the world’s largest crypto exchange by traded volume, has obtained licenses to operate in New Zealand, even after rival Huobi shutdown derivatives trading last month due to concerns about regulations.

Retail FX

Hong Kong busts perpetrators of ‘ramp and dump’ scam

Hong Kong’s financial watchdog, the Securities and Futures Commission (SFC), has charged thirteen suspects of market manipulation in a joint operation with the local police.

Institutional FX

TradingView integrates market data from German Tradegate exchange

TradingView announced that it ‎has increased data coverage to allow its users to receive information from ‎and get free access to the intra-day and tick data from Tradegate Exchange.

Retail FX

Spotware Systems introduces Custom Push Notifications for cTrader mobile apps

Spotware Systems, a technology provider for the electronic trading industry, is introducing a new push notification feature to alert mobile users of price swings and market fluctuations through their cTrader app.

Market News

The Week Ahead: 30 September from David Madden, Market Analyst at Equiti Group

Sterling dominated the headlines last week, as there were concerns the UK government might struggle to service its debt.

Inside View

How does the quality of signal providers affect your business?

A must-have onboarding process for brokers with investment services like PAMM, MAM, or copy trading

Technology

DBS deploys Nasdaq Trade Surveillance

“The confidence that markets and our clients have in DBS as a safe and trusted banking group is anchored on our ability to detect and respond to anomalous activity, which in turn calls for a robust surveillance and prevention infrastructure.”

Industry News

SEC charges Justin Costello and David Ferraro for securities fraud and posing as billionaire veteran

The Securities and Exchange Commission charged Cannabis executive Justin Costello and David Ferraro, an associate of Costello’s, for promoting the stock of several microcap companies on social media without disclosing their own simultaneous stock sales as market prices rose.

<