Caspian launches crypto derivative trading

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Caspian, a trading and portfolio management platform backed by Galaxy Capital, is starting trade in cryptocurrency derivatives.

According to the announcement made on March 20, Caspian has integrated its platform with Deribit exchange to offer futures and options trading in crypto assets.

Deribit is well known for offering futures and options. So far, the company has been offering Bitcoin Core (BTC) and Ethereum services. Reportedly, Deribit also provides perpetual swaps for BTC. Additionally, the exchange does not charge for deposits and withdrawals and leverage of up to 100 times for trading. Deribit was launched initially in 2016, after being in development for several years. John Jansen founded the platform. The platform was initially based in Amsterdam.

Robert Dykes, Caspian CEO, said:

“We are happy to be working with Deribit to make the trading of crypto options and futures possible within the institutional community. Our goal at Caspian is to provide crypto traders and investors the same standard of tools and service that exist in the traditional markets.”

According to the announcement, the Caspian platform is connected to Deribit through an application programming interface (API) that supports “high volumes with ultra-low latency.” The platform provides traders with access to Deribit’s full options order book.

Caspian is a company that was created in a joint venture between Tora, a US-based trading company and Kenetic Capital, a crypto investment firm from Hong Kong. Last year, the company was able to raise $16 million via a token sale, which has seen the backing of companies like Galaxy Capital, Global Advisors, Kenetic Capital, Octagon Strategy and others. Kenetic Capital managing director David Wills called Caspian “a frictionless on-ramp for crypto traders” at the time.

Caspian’s trading and portfolio management system includes an OEMS, PMS, and RMS that covers the entire lifecycle of a trade. The system is the only platform for both options and a future in one interface and connects into all major crypto exchanges and OTC brokers. It comprises of sophisticated trading algorithms, real-time and historical P&L and exposure tracking with industry-leading professional customer service.

Other plays have also invested into crypto derivatives. Last August, LevelTradingField launched a cryptocurrency derivatives exchange using the Ethereum blockchain. In December OKEx, a cryptocurrency exchange launched a bitcoin derivative product with no expiry date giving users lifetime services.