Crypto exchange FTX has listed quarterly futures on tokenized stocks, offering up to 100x leverage.
The new offering comes less than two weeks after FTX ventured into the arena of tokenized stocks trading. FTX said the tokenized stock futures would track FTX spot markets as their index, and they will work the same as futures on other FTX products.
However, there are some conditions attached. First, in the case of an ordinary dividend, the futures will not have any adjustments, said FTX. Second, in case of other corporate actions, such as stock splits and spinoffs, such futures will be adjusted, either by changing denominators or by turning into a future on the whole basket in the case of spinoffs. Finally, FTX said it reserves the final right to determination.
FTX's tokenized stocks trading is a 24/7 service. It allows traders to buy fractions of shares such as Tesla, Amazon, and Apple.
The service is being offered in partnership with German financial services firm CM-Equity, and Switzerland-based tokenization solutions provider Digital Assets AG.