Bitcoin derivatives and options exchange Deribit is getting ready to launch its next wave of services to enhance its bitcoin and soon to be ether futures platform. Updating on the launch of ether futures, the company stated today they are now working on implementing ETH futures with an Ethereum wallet and aiming to launch this before the end of the month.
Once the Ethereum futures are set up, Derbit developers will continue work to launch its forthcoming altcoin exchange. The plan is to first focus on listing ERC-20 tokens, and then other coins will follow.
This week Deribit implemented specific long-awaited order types for futures contracts: Stop Limit & Hidden orders.
- New Stop Limit – A conditional order, where the Limit order only is being sent to the market once the mark price or the index price reached a certain level. For a Buy Stop Limit order the trigger price needs to be higher than current, and for a Sell Stop Limit, the trigger price needs to be lower than current values.
- New Hidden – Hidden orders will not show in the order book and thus are invisible to other traders. A hidden order will always match as a taker order, and non-hidden orders with the same price have a matching preference in the matching engine.
At the moment there are now 4 different types of orders: Limit, Stop Limit, Post Only and Hidden orders.
The company also mentioned that its iOS and Android apps for mobile are currently in development phase and soon to be released in app stores. The mobile application will support futures trading with options trading to be added later on.