The German derivatives exchange Eurex plans to launch digital asset futures contracts linked to Bitcoin, Ethereum and XRP. On December 13, 2017, WIWO already reported that Deutsche Börse is considering offering derivatives that allow its clients to bet on falling crypto prices.
A spokesman for Deutsche Börse told the WIWO,”We are thinking about futures that allow private investors and institutional investors to hedge existing investments in Bitcoin or bet on falling cyber currency rates.”
The derivatives exchange Eurex is a subsidiary of the German Stock Exchange. Deutsche Börse is using Deutsche Börse to expand its blockchain-based applications and products.
In March 2018, the exchange announced a collaboration with HQLAx. HQLAx is a fintech company specializing in providing liquidity solutions to institutional clients. The joint project will build on R3’s commercial blockchain platform Corda.
According to Deutsche Börse, the initiative is making significant progress. Six banks are said to have already confirmed that they will join the platform at the start time. The start is planned for the first half of 2019. At the same time, a number of other companies, including Bakkt, Seed CX and ErisX, are seeking to open markets for physically delivered crypto futures in the US this year.
Eurex was founded in 1998. According to Statista, it is the seventh largest derivatives exchange worldwide. After the number of single stock futures contracts (SSFs) traded in 2017, it was even listed as the fifth largest stock exchange in the World Federation of Exchange report.