TradingScreen subsidiary MARKTS, a cryptocurrency order and execution management system (OEMS), has teamed up with bitcoin futures and options exchange Deribit to enable institutional investors to trade cryptocurrency options for the first time on the MARKTS platform.
Open interest on Deribit’s platform has soared in 2020 amidst a rise in volatility across all cryptocurrencies.
Deribit owns around 70% of the open interest of the Bitcoin options market and approximately 80% of the traded options volume.
It will now connect directly into TradingScreen’s all asset class OEMS solution, with the connectivity allowing institutional investors to manage their risk and downside using options.
The partnership comes as a result of increased institutional interest into the cryptocurrency market following the recent Bitcoin halving event, which paved the way to increased levels of volatility.
Commenting on the partnership, Alex Carteau, Head of MARKTS at TradingScreen, said, “Our collaboration with Deribit meets rising client demand to trade crypto options. As a multi-asset platform, it is pivotal that we continue to aggregate high-end connectivity for our clients.
We are very happy to announce our partnership with @TradingScreen's MARKTS.
MARKTS brings cryptocurrency options trading to institutional investors with Deribit partnership!https://t.co/pnazv3gPwQ
— Deribit (@DeribitExchange) June 24, 2020
“As the crypto market continues to mature, we will continue to stay one step ahead by ensuring institutional investors can trade digital assets reliably and effectively.”
Deribit’s CEO, John Jansen, added that the integration with TradingScreen is “one one less hurdle for institutional investors who want to enter the crypto derivatives market”.
He added: “We are very happy to see that the vast TS institutional buy-side client base is now able to trade on Deribit using their trusted OEMS in an uncomplicated manner.”
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