A major U.S. investment bank eyes the crypto derivatives market. Goldman Sachs is reportedly trying to onboard some of its derivatives products into FTX_Official crypto derivatives offerings.
FTX.US, the U.S. subsidiary of global cryptocurrency exchange FTX is currently seeking to offer brokerage services for its derivatives offerings. This would allow the crypto exchange to handle the collateral and margin requirements internally rather than depending on “futures commission merchants” . FTX.US president Brett Harrison said:
“We have multiple FCMs already committed to integrating technologically with the exchange. There are several large ones you can probably name.”public comments on the requested amendment from the crypto exchange. The chief regulatory body also believes that FTX’s proposal warrants scrutiny as it would lead to a monopoly by large investment banks such as Goldman.
FTX has argued that an integrated brokerage model would help in making the market more stable and free. In a recent roundtable discussion with the CFTC, CEOand FTX’s proposal to integrate its own FCM. Crypto derivatives trading has been a topic of debate for quite some time, with many European countries and even the United States prohibiting most of the crypto exchanges from offering leveraged trading.in several European countries post regulatory interventions.
On one hand, CFTC has called for greater scrutiny of FTX’s amendment demand. On the other, FTX argues that an integrated brokerage model would help them to calculate margin requirements every 30 seconds rather than waiting until the next day to liquidate positions.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Goldman Sachs and FTX in Talks for Ambitious Derivatives Trading Deal: ReportThe integration will focus on providing direct futures trading, and introducing clients among other services.
Read more »
Here's what Goldman Sachs sees as the next big there-is-no-alternative-tradeInvestors are too cautious when it comes to investing in commodities, and right now the world is in short supply of everything, says Goldman.
Read more »
Goldman Sachs and FTX in Talks for Ambitious Derivatives Trading Deal: ReportThe integration will focus on providing direct futures trading, and introducing clients among other services.
Read more »
FTX says farmers don't need to worry about its US derivatives proposalAs FTX looks to convince market participants to get on board with its proposal to launch crypto-tied derivatives in the US, there's one unusual group the exchange operator is looking to assuage: American farmers.
Read more »
Old Fashion Research Launches $100 Million Latam and Emerging Markets Crypto Metaverse Fund – Bitcoin NewsOld Fashion Research has announced the launch of a new crypto-based fund to focus on the metaverse, and on bringing cryptocurrency adoption to emerging markets, like Latam.
Read more »
Bexplus Is a Crypto Exchange With Unique Copy Trading and Demo Account You Can Trust – Press release Bitcoin NewsPRESS RELEASE. Bexplus Exchange is a leading crypto derivatives trading platform offering 100x leverage futures trading on a variety of trading pairs -
Read more »