Share this article
Crypto exchange Bitfinex has brought two of Europe’s top stock indices – the Europe 50 and the DAX 30 – to its futures exchange. The indices will be tradeable using perpetual contracts, and the markets will be open 24 hours a day, presenting a unique edge over stock brokerages.
Bitfinex Bridge Equities and Crypto
Bitfinex has officially launched two equity index futures on its derivatives trading platform. Perpetual contracts for the Europe 50 index, developed by index provider STOXX, and Germany’s DAX 30 went live at 9:00 AM UTC today.
The Europe 30 index collects the continent’s top blue chips equities, including major brands like Nestle, Vodafone, L’Oreal, and Barclays. Germany’s top 30 companies comprise the DAX 30 index.
Crypto exchanges like Phemex have previously listed perpetual contracts for gold, but this is the first instance of an equity product listing on a cryptocurrency exchange. This opens the door to cross-asset trading strategies on Bitfinex, allowing traders to take advantage of unique situations in the European equity market.
Bitfinex’s contracts will trade non-stop, unlike actual equity markets. As a result, this could become the ideal playground for traders to act on events that occur when the stock market is closed.
Permissionless derivative protocols like Synthetix have listed indices like Japan’s NIKKEI 225 and the U.K’s FTSE 100. Demand for these instruments, however, has yet to gain significant traction.
With an easier on-ramp to Bitfinex compared to Synthetix, the centralized exchange stands a better chance of attracting crypto traders looking to dabble in equity markets without fragmenting their capital across various financial markets.
Share this article
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
See full terms and conditions.
Source: Read Full Article