A Chicago trading tech firm is partnering with BitMEX to unleash crypto derivatives on professional traders

Trading Technologies, a Chicago firm that offers a platform to trade derivatives, equities, and crypto, announced Tuesday a partnership with BitMEX that would allow its users to trade crypto perpetual swaps alongside other cryptocurrency assets on its platform. 

"Through the partnership, TT’s users who are eligible to trade at BitMEX now have access to all BitMEX products, including its flagship XBTUSD Perpetual Swap, through the TT platform," Trading Technologies said in a blog post. Already, TT's platform provides professional and day traders the ability to trade bitcoin futures on U.S.-based exchanges like CME and Cboe as well as the cryptocurrencies offered on Coinbase. Perpetual swaps, a unique product in crypto, provide a way to essentially synthetically trade underlying crypto assets.

RELATED INDICES

“This collaboration with BitMEX brings our award-winning trading software to a much broader cryptocurrency market," said Rick Lane, CEO of TT, in a statement. "We expect this partnership will grow trading volume on BitMEX, not only through our existing clients who want access to cryptocurrencies, but also through new users keen to leverage professional trading software and enjoy better trading experiences."

BitMEX, one of the largest exchanges in crypto, has ambitions to expand its platform into 2019. The firm is kicking the tires on options, a move that could put it up against rival Deribit, a smaller rival that offers options and futures.

About Author

Frank Chaparro is Host of The Scoop podcast and Director of Special Projects. He also writes a biweekly newsletter. Chaparro started his career at Business Insider, where he specialized in the intersection of digital assets and Wall Street, market structure, and financial technology. Soon after joining Business Insider out of Fordham University, Chaparro was interviewing top finance and tech executives, including billionaire Mark Cuban, “Flash Boys” star Brad Katsuyama, Cboe Global Markets CEO Ed Tilly, and New York Stock Exchange President Tom Farley. In 2018, he become a sought after reporter in the crypto world, interviewing luminaries such as Tyler Winklevoss, the cofounder of Gemini, Jeremy Allaire, the CEO of Circle, and Fundstrat head Tom Lee. For inquiries or tips, email [email protected].