Bitfinex Derivatives today announced the launch of perpetual contracts Europe 50 (EUROPE50IXF0: USTF0) and Germany 30 (GERMANY30IXF0: USTF0).
Bitfinex Derivatives is the derivatives trading platform of the Bitfinex exchange, and now also offers the trading of these perpetual contracts leveraged up to 100 times, settled in Tether (USDT).
This is the first cryptocurrency exchange where it is possible to trade financial products from traditional stock markets.
This means, for example, that exchanges, unlike traditional platforms, will remain open during the weekend, albeit with price caps to increase price stability.
Therefore, the markets of EUROPE50IXF0: USTF0 and GERMANY30IXF0: USTF0 during the weekend will have a limit of +/- 5% on the closing price of the traditional markets, from 4:30 PM UTC until 8:00 AM UTC of the next business day (one hour earlier during the period Central is viewing CEST).
The CTO of Bitfinex Derivatives, Paolo Ardoino, He said:
“This is the first time that an exchange in the digital asset space has launched a product that bridges the gap with traditional equity markets, representing a significant milestone in the evolution of cryptocurrencies as an established asset class. In particular, the settlement is in tie (USDt). This will facilitate the smooth settlement of cross-asset class trading strategies, hedging and risk management. ”
The description of the perpetual contracts for EUROPE50IXF0: USTF0 and GERMANY30IXF0: USTF0 can be found in the updated derivative product descriptions available at www.bitfinex.com/legal/derivative_product.
What is the Bitfinex Europe 50 contract?
In particular, EUROPE50IXF0: USTF0 is a perpetual contract offered by Bitfinex Derivatives (BFXD) that is refers to the price in USDT of the Cboe Eurozone 50 stock index, which is published in euros by Cboe Europe Indices BV (CEIBV), while GERMANY30IXF0: USTF0 is a derivative contract that refers to the price in USDT of the Cboe Germany 30 stock index, also published in euros by CEIBV.
The Chicago Board Options Exchange (Cboe) describes the Cboe Eurozone 50 stock index as intended to represent the performance of the 50 largest European issuers classified on the basis of their total market capitalization denominated in euros, and whose principal price is in euros, and is a price performance index designed to be used in the creation of funds that replicate the index, derivatives and as a performance reference. Cboe Germany 30 is an index constructed in the same way, but with the 30 largest German emitters.