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Swiss firms will provide traders new opportunities

Swiss asset management company Vontobel will launch a new futures product, designed to allow customers bet against the bitcoin price.

18.Nov.17 11:56 AM
By Daria Zaytseva


Swiss firms will provide traders new opportunities

Нaving started work on SIX Exchange this Friday, the offering will allow investors to reap benefits, even if the price of bitcoin falls. According to Reuters, the company will issue two mini futures, the type of derivative that is part of the value of standard futures.

According to Eric Blattmann, head of the public distribution of financial products at Vontobel, the news appears at a time when traditional traders are simply looking for more opportunities when it comes to trading cryptocurrencies.

Along with Vontobel, Swiss investment solutions provider Leonteq Securities AG also announced the release of a separate product with a two-month maturity. Similarly, in his statements, head of public solutions of Leonteq, Manuel Durr noted that customers "appreciate" the choice between long or short investments in bitcoin.

Indeed, this step goes against the background of interest in the products of cryptocurrency among institutional investors. For example, CME Group, the U.S. operator of the derivatives market, recently announced that it would launch a bitcoin futures product, based on the assumption that other firms can follow suit.

Already, New York’s startup, LedgerX is offering direct trading in futures for the cryptocurrency, which traded at $1 million in the first week.

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