Bitfinex launches Europe 50 derivatives
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 is now also offering the trading of these perpetual contracts leveraged up to 100 times, settled in Tether (USDt).
This is the first crypto exchange on which it is possible to exchange financial products from traditional stock markets.
This means, for example, that exchanges, unlike traditional platforms, will remain open over the weekend, albeit with price limits to increase price stability.
The markets in EUROPE50IXF0:USTF0 and GERMANY30IXF0:USTF0 during the weekend will therefore have a limit of +/-5% on the closing price of traditional markets, from 4:30 PM UTC to 8:00 AM UTC on the following business day (one hour in advance during the period when Central is watching CEST).
The CTO of Bitfinex Derivatives, Paolo Ardoino, said:
“This is the first time that an exchange from the digital asset space has launched a product that bridges the gap with traditional stock markets, representing a significant milestone in the evolution of crypto as an established asset class. Notably, settlement is in tether (USDt). This will facilitate the seamless settlement of cross-asset class trading strategies, hedging and the management of risk”.
The description of perpetual contracts for EUROPE50IXF0:USTF0 and GERMANY30IXF0:USTF0 can be found in the updated descriptions of derivative products 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) which refers to the USDt price of the Cboe Eurozone 50 stock index, which is published in Euro by Cboe Europe Indices BV (CEIBV), while GERMANY30IXF0:USTF0 is a derivative contract which refers to the USDt price of the Cboe Germany 30 stock index, also published in Euro 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 full market capitalization denominated in Euros, and whose main listing is in Euros, and is a price performance index designed to be used in the creation of funds replicating the index, derivatives and as a performance benchmark. Cboe Germany 30 is an index built in the same way, but with the 30 largest German issuers.