Seed CX subsidiary, Zero Hash, has announced the launch of bilateral crypto derivatives transactions. Seed CX subsidiary launches crypto derivatives transaction. Global xchange.
As of the now, the company will support all back-office settlement functions for forwards and have plans to expand soon. This will attract financial institutions to settle derivatives on its platform. Global exchange.
According to Zero Hash, this support for forwards will include:
The calculation of variation margin, initial margin and final settlement values,
The sending of margin-call notifications, and
The movement of funds, significantly reducing operational and counterparty risk.
Global xchange. Brian Liston, Seed CX co-founder and President of Zero Hash, said:
“Derivatives are a rapidly evolving area within the digital asset industry, yet there is a critical demand in the market for a regulated post-trade settlement utility, like Zero Hash”
“We see a growing demand for third-party settlement platforms to handle margin and settlements between counterparties,” said Darius Sit, Managing Partner at QCP Capital. Global exchange.
In July, Zero Hash announced that the Department of Financial Services (NYDFS) in New York had issued a virtual currency licence.
The company claims that this settlement service allows participants to customize the settlement of their forward contracts and provide institutional investors with greater flexibility in the digital asset area.
Earlier this year, Seed CX introduced a spot Bitcoin trading market in January 2019 and started testing last month for margin swaps. Globalexchange.
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