Bitcoin Futures Pave Way for Ether Derivatives From CDS Pioneer
- Code-named ‘Virtuoso,’ exchange’s backers include Sunil Hirani
- Follows plans by CME and Cboe to create bitcoin futures
Bitcoin: What’s Coming in the Year Ahead
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The second-biggest cryptocurrency is poised to get a derivatives market, thanks in part to a pioneer of trading credit-default swaps, according to two people familiar with the matter.
Contracts on the ether digital currency will be offered by an as-yet-unnamed exchange going by the code name “Virtuoso,” according to one of the people, who asked not to be named discussing private information. One of its co-founders is Sunil Hirani, who sold the CDS brokerage he co-founded, Creditex Group, to Intercontinental Exchange Inc. in 2008 for about half a billion dollars, the person said.