Connamara Systems, LLC, the provider of software engineering services to capital markets, has announced that it has been selected by BCause LLC, a privately held exchange operator that will create a market for trading futures and options on cryptocurrencies, as the technology platform provider for a new exchange based and regulated in the US.
"We're delighted to be working with BCause on this exciting new venture. We look forward to a long and mutually beneficial relationship”, Jim Downs, CEO of Connamara, said.
Founded in 2013, the BCause Trading Platform allows businesses who accept bitcoin and other cryptocurrencies to hedge against volatility risk and allows traders to speculate via Call and Put Options.
Currently pending approval from the Commodity Futures Trading Commission (CFTC) as a fully regulated Designated Contract Market (DCM), BCause plans to be the first exchange to legally offer a variety of derivatives in the US for retail customers based on Bitcoin and other cryptocurrencies, the official release stated.
"The crypto-currency eco-system desperately needs financial products that allow the investor to hedge risk. Our products combined with Connamara's extensive experience and success in providing technology in the regulated exchange space really differentiated them from the competition and made our decision easy. We particularly appreciate their flexibility in meeting our unique requirements and aggressive timelines," Michael Adolphi, CEO at BCause, said.
