SGX Launches Bitcoin and Ether Perpetual Futures for Institutions
- The Singapore Exchange (SGX) will launch bitcoin and ether perpetual futures on November 24.
- Current prices are approximately BTC $95,789.16 and ETH $3,196.62.
- Perpetual futures allow positions to be held indefinitely, avoiding expiry pressures common in traditional futures.
- These instruments generate over $187 billion in daily trading volume globally.
- SGX’s contracts will reference the iEdge CoinDesk Crypto Indices for institutional price discovery.
The introduction of perpetual futures aligns with the growing interest of institutional investors in digital assets, providing them with more flexible trading options without direct ownership of cryptocurrencies. This move is seen as a strategic enhancement to Singapore’s financial ecosystem.
With more than two-thirds of crypto trading occurring in derivatives, SGX’s offering aims to enhance market access for institutions while maintaining traditional margining and clearing processes.(Source)
