Bitcoin

The Toronto Options Exchange chooses BNC to boost crypto markets

The company for digital asset data Brave New Coin (BNC) has signed a multi-year contract with the Toronto Futures Options Exchange (tFOSE) to boost crypto trading.

BNC data enables the exchange and clearing house of new Canadian derivatives Offer global customers cash-settled crypto derivatives.

The association will “design, calculate and manage a series of cryptocurrency indices to improve trading in cash-settled options on tFOSE”.

Introduction of cryptocurrency options for 2021

The Toronto Options Exchange chooses BNC to boost crypto markets
The Toronto Options Exchange chooses BNC to boost crypto markets

James Beattie, the president and CEO of tFOSE, explained this BNC was selected after the exchange had conducted extensive research on the crypto market data providers.

“Brave New Coin meets all of our needswith a unique approach to index design, methodology and governance help tFOSE meet the specific and demanding needs of our retail and institutional investors“Said Beattie.

The exchange expects its crypto options to start trading in 2021.However, TFOSE has not yet received approval for the planned contracts.

The LTC index is started first

Companies expect indices to be available for production in the fourth quarter of 2020and companies plan to launch the ‘Litecoin tFOSE BNC Index’ first. BNC currently offers data and index services for NASDAQ, Dow Jones Factiva and Amazon Alexa, among others.

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