<p><span style="font-weight: 400;">Cryptocurrency exchange Bitnomial can now legally offer bitcoin futures and options contracts.</span></p> <p><span style="font-weight: 400;">Founded in 2015, Bitnomial secured $7.5 million in an </span><a href="https://www.sec.gov/Archives/edgar/data/1665122/000166512218000002/xslFormDX01/primary_doc.xml"><span style="font-weight: 400;">equity raise</span></a><span style="font-weight: 400;"> last December.</span> <span style="font-weight: 400;">On Monday, the exchange </span><a href="https://bitnomial.com/press/release/bitnomial-cftc-approval/"><span style="font-weight: 400;">announced</span></a><span style="font-weight: 400;"> that it has received approval from the U.S. Commodity Futures Trading Commission (CFTC) to operate as a designated contract market, effective immediately. </span></p> <p><span style="font-weight: 400;">As such, Bitnomial will be one of the first to offer bitcoin futures and options products, following the lead of CME, Cboe, Bakkt, ErisX, and LedgerX. In the announcement, the exchange stressed that all its contracts will be list-margined and physically delivered.</span></p> <p><span style="font-weight: 400;">"We are building the Bitcoin Product Complex, a suite of interrelated financial products, starting with quarterly Bitcoin futures, micro futures, and options," said Bitnomial CEO Luke Hoersten.</span></p> <p><span style="font-weight: 400;"> "Additionally, our products initially trade on 37% margin and are settled on-chain instead of book entry," Hoersten added.</span></p>