Coinbase Set To Crash Institutional Trading Desks
Trading Technologies International Inc., whose products let traders buy and sell on major exchanges, plans to add the cryptocurrency marketplace Coinbase Inc. to its roster of venues in March, according to a statement on Thursday. Coinbase, the biggest U.S. crypto market, offers Bitcoin, Bitcoin Cash, Ether and Litecoin.
This will strengthen ties between the professional trading community and cryptocurrencies, letting them use software they’re already accustomed to. And the connection might enable arbitrage between Bitcoin and the Bitcoin futures contracts offered by Cboe Global Markets Inc. and CME Group Inc., which Trading Technologies customers can already trade.
TT, as the company is known, says it counts 19 of the 20 largest firms that deal in futures as customers and connects to nearly 45 markets around the world. Cboe and CME started offering Bitcoin futures on their exchanges last month. Together, they handled contracts worth about $150 million of Bitcoin on Wednesday, according to data compiled by Bloomberg.