Bitfinex Derivatives, a derivatives platform that is accessible through Bitfinex announced a range of perpetual contracts “for three of the largest and oldest Asian Equities indices; HONG KONG 50, JAPAN 225 and AUSTRALIA 200.”
The launch of these equity perpetual contracts will reportedly “allow Bitfinex Derivatives customers to trade products that are usually found on traditional financial exchanges, but are subject to restricted trading hours.”
On Bitfinex Derivatives, they will be “available to trade 24-hours a day, seven days a week, subject to certain limitations during periods when the mark price is stale.”
HONG KONG 50 is “a market capitalization weighted index that tracks the performance of the 50 largest and most liquid companies in Hong Kong.”
It’s a service sector heavy index “composed significantly of IT and financial stocks.” The HONG KONG 50 is described as “a strong indicator of the state of China’s monetary policies, which are currently on an easing cycle as opposed to monetary tightening cycles in the West.”
JAPAN 225 is described as “a price-weighted index tracking performance of the 225 largest and most liquid blue chip companies in Japan.”
It is reportedly “the oldest stock index in Asia, and is sensitive to the performance of a broad range of sectors and companies, including global car manufacturers, electronic goods manufacturers, IT and Industrials. JAPAN 225 reflects the performance of Japan’s export-led economy, where a weakening Yen is currently encouraging foreign demand and boosting revenues.”
As noted in the update shared with CI, AUSTRALIA 200 is “a market capitalization weighted index that tracks the performance of the 200 largest and most liquid Australian blue chip companies.”
It’s composed “predominantly of energy and materials companies, and depends heavily on China’s economic performance, a nation that draws around 35-40% of Australian exports, including iron ore, coal, gold, and petroleum.”
These equity index perpetual contracts “join Bitfinex Derivative’s expanding perpetual trading portfolio of more than 60 crypto perpetuals, its commodities perpetuals which include oil (UKOIL-PERP), platinum (XPT-Perp), palladium (XPD-Perp), Tether Gold (XAUT-Perp), and its FX perpetual contracts on Euro, Yen and Sterling (EUR-Perp, JPY-Perp, and GBP-Perp).”
The new contracts reportedly went “live on APRIL 5 at 10:30 AM UTC, and will offer users up to 100x leverage, settled in US dollar-denominated Tether tokens (USDt).”
Paolo Ardoino, CTO of Bitfinex derivatives, said:
“We are delighted to add the HONG KONG 50, JAPAN 225 and AUSTRALIA 200 perpetual swaps to our portfolio of derivatives products. These Equity Indices are strong indicators of how the Asian Economy is performing, and we are proud to give Bitfinex Derivatives traders the freedom to trade these new contracts at any time of the day and the week.”
The equities contracts on Bitfinex Derivatives “work in the same way as other perpetuals on the exchange.”
All transactions and funding are “settled in USDt, and margin collateral will be denominated in USDt.”
The mark price is “determined on the basis of the average of the most recent bid and offer prices from an independent third-party information provider and multiplying it by the prevailing USD/USDt exchange rate. Bitfinex Derivatives platform and products are only available in eligible jurisdictions, and are exclusive to verified users.”
As clarified in the update, the derivatives platform is “provided by iFinex Financial Technologies Limited.”
Launched in September 2019, iFinex Financial Technologies Limited “offers a derivatives platform that is accessible through Bitfinex, a digital token trading platform offering state-of-the-art services for digital currency traders and global liquidity providers.”
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