Each week the startup handles about 700 swaps and option contracts with a total of $ 7.5 million. During the launch of derivatives trading, their total volume at a spot price was $ 130 million.
Trading swaps and options began on the LedgerX platform in October last year, after the launch in July was approved by the US Commodity Futures Trading Commission. In the first week, 176 transactions with a total volume of $ 1 million were processed.
After that, the volumes grew every month by 40%. At the moment, 2000 contracts are open on the platform, of which the longest is the contracts expiring in December 2019 for $ 15,000 and $ 25,000. In other words, investors will be able to purchase these assets if bitcoin reaches these marks by next December. Nevertheless, traders will profit only if bitcoin really exceeds these levels.
According to LedgerX, the recent decline did not significantly affect the trading of crypto-currency derivatives. Now on the platform trades 90 institutional and individual traders, both experienced and newcomers, which make up the participants base.
While the LedgerX platform is trading only swap and bitcoin options, the company plans to expand, in particular, by adding support for Ethereum.