Crypto Market Expands In Canada With Multi-Year Deal For Institutional-Grade Crypto Options Trading on Regulated Exchange

Announcements, News | July 15, 2020 By:

Digital asset data company Brave New Coin (BNC) has signed a multi-year partnership with Toronto Futures Options Swaps Exchange (tFOSE).

Founded in 2014, BNC is a data and research firm focused on the blockchain and crypto industry. It provides data, analysis and research to a global network of market participants. The company supplies spot-pricing, index solutions, research and news both aggregate and proprietary, via partners such as Amazon Alexa, Dow Jones Factiva, NASDAQ, Refinitv, RapidAPI and dozens more.

tFOSE is a Canadian-based derivatives exchange and clearinghouse which intends to operate an options and futures exchange, to power institutional-grade cryptocurrency options trading in Canada. The company’s application for regulatory approval to operate an Exchange and Clearinghouse is currently in progress.

Under the partnership, BNC will design, calculate and administer a suite of cryptocurrency indices to power cash-settled options trading on tFOSE. The indices will reportedly enable tFOSE’s clients both in Canada and globally to trade crypto derivatives on a fully-regulated Canadian exchange, alowing traders to diversify their portfolios and exposure, hedge risk, and access an emerging asset class without having to directly hold the underlying cryptocurrency as they are cash-settled products.

“After extensive research and due diligence, tFOSE selected Brave New Coin for its deep expertise in generating insightful crypto market data and indices,” said James Beattie, President and CEO at tFOSE. “Brave New Coin meets all of our needs, taking a unique approach to index design, methodology, and governance that will help tFOSe meet the specific, exacting needs of both our retail and institutional investors.”

According to the companies, the indices will be available for production in the third quarter of the year, beginning with the tFOSE BNC Litecoin Index. Cryptocurrency cash-settled options trading is expected to launch on tFOSE in 2021, subject to regulatory approval.

“The crypto ecosystem is maturing and demand for regulated investment products from institutional markets is growing,” said Fran Strajnar, CEO and Founder of Brave New Coin. “Our partnership with tFOSE furthers our role as a leader in market data, indices, and benchmarking for crypto assets. We’ve dedicated our company to building products that bring institutional-grade services to this emerging asset class.”