Crypto Exchange BTSE Plans Futures Trading

UAE based fiat-cryptocurrency exchange, BTSE, has announced the launch of futures products from February 2019.

“We have designed a product to provide 100-percent leverage to a user,” says Brian Wong, co-founder at BTSE. “This enhances the return that they can get from the volatility in price. Another thing is they can go long, and they can go short–the coin itself. So all these are very useful features that enable people to speculate on the price of bitcoin.”

The new features being offered include linear perpetual futures contracts, multi-currency, and FIX (financial information exchange) support. The product design is designed around feedback from the exchange’s clients. Many belong to the institutional money world, including money-managers and hedge-fund managers, in search of a product to fit their need to hedge risk or speculate on the price of coins. In this respect, the platform claims to offer better margin control for traders looking to benefit from volatile markets, while avoiding the volatility of cryptocurrencies.

The technology used for the futures products has been developed by an in-house team at BTSE. The matching engines for matching the orders of futures can process over a million orders per second, the exchange says.

Wong says that while normally futures tend to expire, their product is different. “Once a future expires, you have to get into a new position which creates inconvenience, it is more hassle for the user,” he says. “But our future, it never expires. That is why it is called a perpetual future. So it saves users hassle and it provides a tool that people can use very easily without all these operational overheads.”