BitMEX CEO reveals that the firm is hoping to come up with a new platform for Cryptocurrency option in the mid of this year. As per the remark was given by him in a podcast on April 12.
Hayes reveals that previously he was a former equities trader for Citigroup and it seems that it was a rough time for the prospective launch.
Arthur further explained:
We hope to possibly have our own options platform in maybe 12 to 18 months.
He also hinted that they are working to innovate option listing but kept a secret with the words as stated,
We have somebody working with some university professors on a complicated new way of doing this.
So what “Options” are
Well, they are a kind of financial derivative that gives the buyer the right but not an obligation to buy neither sell their assets at an agreed price in future.
BitMEX was founded in the year 2014 and has a current asset of $1.1 billion as per the daily traded volume.
For being purely a derivative based platform it has not been included in the CoinMarketCap’s data.
As we have already reported according to Hays prediction the major Cryptocurrency Bitcoin(BTC) will get back to its price cap of $10,000 for the market recovery will begin in the early 4th quarter of 2019.
Along all this the firm also conducts market research mostly in the Crypto Market.
While releasing a report on the impact of 2018 bear market on the ICO projects was released in January this year.
In the same month, the firm refuted the media reports that allegedly claims in the closing of their Quebec and United States residents due to an economic breakdown.