CrossTower launches perpetual futures trading for qualified investors

In March 2022, open interest in Bitcoin and Ether perpetual futures stands at c. $18 billion and $8 billion, respectively.

Bitcoin in a few hands

CrossTower has launched perpetual futures trading on its Bermuda digital exchange, available to qualified clients through the CrossTower Global Pro platform.

Expanding the firm’s service offering for qualified traders with Crypto perpetual futures trading will facilitate the shaping of risk for enhanced portfolio construction.

Perpetual futures are derivatives contracts that are not limited to a predetermined expiration date and empowers users to to take long and/or short positions, consistent with their portfolio and risk objectives. In the coming weeks, CrossTower intends to rollout perpetual futures trading in 20 top name tokens.

Bitcoin perpetual futures, seen as a barometer for demand for crypto derivatives, hit record open interest in 2021, with average volumes of approximately $62 billion per day globally throughout last year. In March 2022, open interest in Bitcoin and Ether perpetual futures stands at c. $18 billion and $8 billion, respectively.

Kapil Rathi, Co-founder & CEO of CrossTower, said: “Perpetual futures provides investors critical tools that can facilitate and shape their investment objectives. The advantages of perpetual futures trading are truly compelling for portfolio construction, and we are thrilled to be contributing to the maturation of the digital asset ecosystem. CrossTower is developing cutting edge trading products and we are excited to be at the forefront of innovation.”

CrossTower offers a low-cost trading model with quality execution based on its capital markets expertise and track record. CrossTower posted record trading volumes in Q4 2021, with volume growing over 600% from the year ago period and more than 100% from the prior quarter.

The digital asset exchange company offers investment products, lending services and operates execution platforms for digital assets.

In 2021, CrossTower partnered with digital asset trading platform Omniex to enter its liquidity network which covers the industry’s most trusted exchanges and OTC (over-the-counter) venues. Omniex’s algorithmic trading and smart order routing tools give asset managers, active traders, and intermediaries including broker-dealers and OTC desks, consolidated order books across the top venues.

Also last year, the firm hired 25-year exchange industry veteran, Bryan Christian, as Global Head of Exchange to manage the firm’s US and global exchanges, product expansion, and growth of the company’s transaction business. Prior to CrossTower, he was Head of Institutional Services for ETF market maker Old Mission and Head of Sales at Cboe Global Markets.