Tassat-Blockfill Launch Institution Trade at Settlement Product ( XBT/USD)

Richard M Adrian by Richard M Adrian - 06:04 AM Nov 19, 2019
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Digital asset market maker Blockfills is partnering with New York-based Fintech service Tassat to launch an Institutional Trade at Settlement (TAS) commodity for spot Bitcoin (XBT/USD).

According to a Nov 18 public report - Tassat formerly called true digital will join hands with Blockfills; a company that specializes in digital asset electronic market-making, prime brokerage, and trading;  to launch the bitcoin product by mid-December. 

New products for crypto traders to hedge risk


TAS will be a specific electronic order book that will enhance buyer-seller trades at or close to the settlement price established during a discrete fixing period. A component widely popular in the derivatives markets for a wide range of underlying assets; the model reduces both uncertainty and eradicating slippage in trade executing.  This is made possible by establishing a determined market price for participating traders to trade around. 

Developers behind the spot bitcoin product argue that by contrast; majority retail spot exchanges comprise of risks and massive uncertainty associated with; price volatility, significant wider spreads and abrupt price moments. For the Bitcoin (XBT/USD) TAS product, Tassat’s Bitcoin reference rates constructed from a somewhat aggregated institutional-size quotes;  from up to ten global over the counter digital asset market markers; could probably underpin the settlement price at each window. Well, the Blockfills trading platform will manage cash order flow, settlement of trades, execution, and matching. Tassat’s director of sales Josh Gibson noted that: 

“TAS provides a way to offset the risk of price movements on their futures positions and/or rebalance the gamma on option positions with no risk of excessive slippage. With the growth of digital asset derivatives, participants of all kinds will need new and efficient ways to hedge their positions.”

Steps towards full CFTC oversight


Meanwhile, Tassat successfully managed to overcome the first hurdle to launch its fully-regulated crypto-derivatives exchange. In fact, the United States Commodity Futures Trading Commission (CFTC) approved the transfer of existing registration rights from affiliated financial services firm to allow Tassat operate an exchange listing options contracts and futures with the agency’s oversight. 

 

About The Author
Richard M Adrian

Richard M AdrianBlockchain Analyst with a demonstrated history of working in the writing and editing industry. Skilled in WordPress, Editing, SEO Copywriting, Copy Editing, and Blog Marketing. When I am not writing, analyzing bulls/bears - I will be listening to music, reading a thrilling novella or hiking. Email me at Richardmadrian@gmail.com - And we could talk about anything - business or dragons.

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