BitMax.io (BTMX.com), a cryptocurrency exchange platform, has announced the introduction of derivatives trading. Complementing its current spot and margin trading products, derivative trading has been officially launched on March 23rd, 9:30 a.m. EDT with a bitcoin-based perpetual contract.
In the near future, the exchange will further extend perpetual contracts to other assets.
Some of the platform’s highlights are summarized below:
- Cross-Asset Collateral: Users can post USDT, PAX, USDC, BTC, and ETH as margin to increase buying or selling power; allowing for greater funding flexibility and diversification.
- Distinctive Liquidation Engine: The platform employs a unique smart order router mechanism designed to reduce distressed account positions; the engine transfers risk to opt-in institutions via a “Backstop Liquidity Provider” program.
- Composite Price: BitMax.io calculates users’ trading profit and loss (PnL) positions, and collateral value using an “index” computed by taking an average price derived from order books on Binance, Huobi, OKEx, Poloneix, and its own exchange. The index pricing methodology is intended to mitigate unnecessary market volatility from pricing disruptions on any single trading venue.
- Deep Liquidity, Tight Spreads: BitMax.io strives to engage a diverse range of trading counterparties on a unified order book shared between multiple trading platforms. Through aggregating liquidity to promote trading efficiency; other futures trading platforms and dealers can onboard with the central matching engine to provide optimal trading conditions for their respective users.
“An agile go-to-market strategy and robust system architecture are probably the two most important considerations the BitMax.io team has had when building our derivatives platform.”
– Shane Molidor, BitMax.io’s Head of Business Development
