KUALA LUMPUR, Nov 11 -- Tassat Group LLC, a New York-based global financial technology company announced that the CFTC has approved its acquisition of a Swap Execution Facility (SEF) registration.
The transfer of the SEF registration was effective Nov 6.
With this transfer approval, Tassat will proceed to list its first cryptocurrency derivative product, an institutional-focused, margined, physically-deliverable Bitcoin swap.
This derivative contract will be listed on its own SEF registered as Tassat Derivatives LLC, a wholly owned subsidiary of Tassat Group LLC.
Tassat will provide additional details about its Bitcoin swap contract, the development of its exchange and announce a formal launch date in the near future.
Shortly after the initial launch, Tassat plans to introduce additional eligible contract participants (ECP)-focused workflows including Request for Quote and block trading functionality.
Tassat will join the CME and Bakkt in being among the first US venues to offer CFTC-regulated cryptocurrency derivative products.
Thereafter, Tassat plans to introduce additional derivative products, encompassing a range of underlying assets, durations and contract types to meet the needs of a wider range of institutional participants. More details at https://www.tassat.com/
-- BERNAMA
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