BCause LLC, a private exchange operator, has begun work on a platform for trading futures and options on cryptocurrencies in partnership with Connamara Systems LLC, a software engineering firm.
The new exchange will be based and regulated in the USA.
The existing BCause Trading Platform centers around trading via Call and Put Options, and makes it possible for businesses using Bitcoin and other virtual currencies to hedge against volatility risk.
BCause has also applied to the Commodity Futures Trading Commission (CFTC) to become a fully regulated Designated Contract Market (DCM). Once that happens, the company will be able to offer a wide range of retail-customer derivatives based on digital currencies on the territory of the USA.
According to Michael Adolphi, CEO of BCause, currently there is a tangible need for financial products that are orientated at hedging risk. He further believes that Connamara’s proven track record in providing technology in the regulated exchange market will give BCause an edge over the competition and contribute to the success of the project.
