Japanese financial services giant Nomura has launched bitcoin derivatives for its institutional clients. The first trades were executed by Cumberland DRW on behalf of Nomura on the CME.
Over-the-Counter BTC Futures and Options
Nomura’s over-the-counter bitcoin futures and options will be available to institutional clients. They will be non-deliverable and have to be settled in cash, media reports said.
Talking about the partnership with Cumberland DRW, Nomura’s head of markets, Asia ex-Japan (AEJ), Rig Karkhanis, said in a statement, “Working with institutional-grade counterparties will allow us to scale into the increasing demand from our clients.”
Derivatives During Digital Assets Meltdown
Although crypto markets are in a bearish mode for the past few months, the demand from institutional and private investors for such services has been growing, forcing global investment banks to expand into the industry.
The current meltdown that left the crypto market with a $300 billion
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