TMX Group Canada to introduce a cryptocurrency futures product later this year

Paraguay, San Pedro, Lima

Published 3 years ago

ID #1304

1 photo

Details Contact

Smart Node

TMX Group Canada to introduce a cryptocurrency futures product later this year

Paraguay, San Pedro, Lima,

Published 3 years ago

X-Node Details

In response to concerns from institutional investors about the risks of trading a new asset class, TMX Group, Canada's largest stock trader, has revealed plans to launch its first crypto futures product.

Speaking to Reuters, TMX Group's John McKenzie said the company plans to launch the product on the Montreal Exchange later this year.

According to Mackenzie, "a greater number of institutional investors and distributors are holding more crypto assets within their portfolios or for their clients or in ETFs," adding that they are working on how to mitigate risk due to the enormous volatility of cryptocurrencies.

Cryptocurrency assets have suffered significant declines in recent months as investors sought safer investments amid expectations of interest rate hikes from central banks. In recent weeks they have made progress in recovering from some of their losses, with Bitcoin (BTC) recovering past the $42K mark and Ether (ETH) price pulling back to retest $3,000 support levels.

Canada TMX

cryptocurrency Canada