UK-Based Crypto Exchange Launches Litecoin Derivatives Contracts
Crypto Facilities, a UK-based crypto futures exchange, has announced that it will launch LTC (Litecoin) derivatives this Friday.
The new contracts dominated by US dollars, will offer both short and long trading terms along with weekly, monthly, and quarterly maturities. Furthermore, unlike already existing BTC (Bitcoin) futures contracts on futures exchanges like CBOE and CME, these new contracts will have LTC (Litecoin) as their underlying collateral.
Timo Schlaefer, Crypto Facilities CEO, has said that this decision regarding the trading platform is in response to “strong client demand”. He explains:
“We believe our LTC-dollar futures contracts will increase price transparency, liquidity, and efficiency in the cryptocurrency markets.”
The launch comes only a month after the exchange began offering ETH (Ethereum) futures contracts to its clients, alongside its already existing Ripple and Bitcoin-based crypto derivatives.
Earlier this month, Chris Concannon, CBOE Global Markets President, announced that its platform could soon offer ETH (Ethereum) futures, after news from a senior official from the US Securities and Exchanges Commission (SEC) suggested that the Ethereum will not be regulated as a security under the national law.
Crypto futures have been attracting a lot of controversies this month. Earlier this month, some reports surfaced suggesting that the US CFTC (Commodity Futures Trading Commission) has been probing major crypto exchanges in the country as a part of the commission’s investigation into possible manipulation of prices on Bitcoin (BTC) futures exchanges.
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