NinjaTrader and Tradovate launch Nano Bitcoin futures

Rick Steves

NinjaTrader Group has announced that subsidiaries NinjaTrader and Tradovate are among the first to offer the new Nano Bitcoin futures (BIT) contract launched by Coinbase Derivatives Exchange.

The provider of clearing, brokerage and technology solutions for active traders will allow users to trade Nano Bitcoin futures (BIT) via NinjaTrader or Tradovate without any commissions or market data fees.

Sized at 1/100 the price of a bitcoin, representing the smallest size cryptocurrency futures contract available today, the Nano Bitcoin futures contract enables traders to go long or short bitcoin.

The new futures contract can be used to hedge against an existing Bitcoin position. The financial instrument can also be a good option for those who may have been reluctant to invest in bitcoin directly as they can participate in the movement of the price for a much smaller investment.

NinjaTrader and Tradovate have been adding innovative tradable products to increase accessibility to the dynamic futures markets in order to cater to the rapidly expanding retail trader audience.

Martin Franchi, Chief Executive Officer of NinjaTrader Group, said: “We’re thrilled to continue supporting global exchange product innovation tailored to the retail community. These exciting, affordable and accessible products will be available on our platform from the moment they launch. Our unique offering of commission-free trading and innovative trading solutions provides active and new traders alike a straightforward way to take a position or hedge their exposure in the crypto market in a regulated U.S. exchange environment. We anticipate significant interest in this new contract and believe it is a perfect product and market fit as retail investors continue to flock to the futures markets.”

Boris Ilyevsky, Head of Coinbase Derivatives Exchange, said: “We’re excited to be working alongside the NinjaTrader and Tradovate team. NinjaTrader’s reputation within the retail futures sector is unparalleled, and Tradovate has collaborated with us from day one by sharing our values in creating best-in-class products for their customers. We couldn’t be more excited to continue our partnership with them and innovate on new products together for the retail community.”

NinjaTrader acquired Tradovate in January 2022

Since NinjaTrader Group acquired Tradovate Holdings, LLC in January 2022, the combined entity exceeded 10.2 million futures contracts traded in May 2022.

In a statement, the US-based software provider highlighted the apparent benefits their combined client base will get following the takeover, describing it as the next logical step for its platform.

NinjaTrader said the transaction creates one of “the most formidable” retail futures brokers with combined trading volume in 2021 of approximately 100 million futures contracts.

Tradovate founder and CEO Rick Tomsic joined NinjaTrader’s executive team as its chief strategy officer and serves at NinjaTrader’s board of directors.

The move marks a fresh expansion for NinjaTrader into the futures trading business. In January 2021, the company acquired the US registered FCM, TransAct Futures and its wholly-owned subsidiary, Infinity Futures.

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