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MiFID compliant crypto trading platform launched

News Team, 17/05/2021

Investment platform provider CloseCross is opening up derivatives trading for the growing number of online investors and crypto traders globally with the launch of the world’s first Ethereum (blockchain) based multiparty derivatives platform.

The platform is said to offer traders a chance to generate returns based on their asset price predictions in any direction, including predicting stability of prices, something the firm claims has never been seen before in financial markets.

CloseCross also said that it removes the need to deal with central issuers of derivatives/CFDs and allows hundreds of traders to enter a common smart contract instead of hundreds of individual traditional derivative contracts with a centralised derivatives contracts issuer.

The MIFID regulated platform reduces costs and complexity enabling traders to use multiparty derivatives to forecast movements on forex, crypto, stocks, commodities, and stock market indices worldwide. Investors can try a demo and subject to appropriateness assessment process.

Vaibhav Kadikar, Founder and CEO of CloseCross said: “CloseCross enables a level playing field for traders. No longer should 75 percent or more traders lose money when trading against a centralized derivative/CFD issuer. It’s just unfair.”

“The global market is worth around $1200 trillion a year but has always been highly concentrated and exclusive with issues around complexity, difficulty of use, high costs and unquantified risks stemming from leverage and margin call liquidations. All these are absolutely unnecessary.”

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