Canada's Largest Stock Market Operator Plans Crypto Futures Product
NDTV
Canada's largest stock market operator, TMX Group, plans to launch its first cryptocurrency futures product in response to institutional investors' desire to offset the risks of trading in the relatively new asset class, the company's chief executive told Reuters on Tuesday.
Toronto: Canada's largest stock market operator, TMX Group, plans to launch its first cryptocurrency futures product in response to institutional investors' desire to offset the risks of trading in the relatively new asset class, the company's chief executive told Reuters on Tuesday.
The group, which had 17 cryptocurrency exchange-traded funds (ETFs) listed on the Toronto Stock Exchange as of Dec. 31, aims to release the product on the Montreal Exchange this year, John McKenzie said in an interview after TMX posted fourth-quarter results on Monday.
"More institutional investors and dealers are... holding more crypto assets within their portfolios or for their clients or in ETFs," he said. "In crypto there's a lot of price volatility so (they're looking at) how they manage that exposure."
TMX, the operator of the Toronto stock and Montreal derivatives exchanges, listed the world's first bitcoin ETF almost a year ago.
