Posted by Colin Lambert. Last updated: July 29, 2024
Crypto exchange One Trading has been granted an Organised Trading Facility (OTF) license by the Dutch regulators, a move the company says means it has achieved multiple “firsts” for crypto futures in the European Union.
The exchange says it is the first PTF license granted by the Dutch Financial Markets Authority (DFMA), making it the first MiFID II trading venue for perpetual futures in the EU, as well as the first regulated crypto derivatives exchange in Europe accessible to retail clients. In addition, it plans to offer one-minute tick level settlement of all positions 24/7, and says the integrated custody and settlement makes it the first EU venue to allow the use of crypto assets as collateral for trading regulated financial instruments.
“The long-term vision of the company is to enable all customer types to go long or short on any asset, use any asset as collateral, settle everything instantly, and perpetually roll contracts,” says Joshua Barraclough, founder and CFEO of One Trading. “With this licence, we are well positioned to introduce new regulated products and offer institutional-grade solutions to all customer types starting with BTC and ETH products where no onshore EU regulated venue currently exists.”
One Trading general counsel, Mario Hoessl-Neumann, adds, “By launching a novel form of financial instruments with purpose-built tech and the seamless integration of DLT-based assets on the One Trading platform, we are not just providing European clients with the first onshore alternative to unregulated exchanges. More fundamentally, we are complementing – and in some important ways replacing – traditional structures for how regulated derivatives such as futures are traded.”
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