Kraken strikes a chord in acquisition deal of FCA regulated derivatives platform

The globally crypto exchange, ‘Kraken’ has officially announced an acquisition deal of FCA regulated British derivatives trading start-up to render ‘Crypto Facilities’. Jesse Powell divulged that the deal is reportedly worth at least $100 million.

Furthermore, with existing mechanism of the cash-settled futures trading for bitcoin, XRP, bitcoin cash, litecoin and ether trading pairs, the new resource likely to extend data services to the CME CF Bitcoin Reference Rate, an index created in collaboration with CME Group that influences the company’s U.S. futures trading.

Of-late, Cryptocurrency derivatives trading has been the center of attraction in the recent past. Cryptocurrency derivatives, including cryptocurrency futures, cryptocurrency CFDs, and cryptocurrency options) have been under the meticulous scanner of the renowned global regulators, such as US SEC, CFTC and UK’s Financial Conduct Authority (FCA).

The market for derivatives is massive. For example, in 2017, the notional number of outstanding derivatives contracts was approximately $542 trillion. Investors, market makers, and other financial players routinely enter into these contracts, in order to hedge risks or make a profit.

Currency Strength Index: FxWirePro's hourly BTC spot index is inching towards -52 levels (which is bearish), while hourly USD spot index was at 8 (neutral) while articulating (at 05:44 GMT). 

For more details on the index, please refer below weblink: http://www.fxwirepro.com/currencyindex