Search ForexCrunch
  • The exchange will provide both long and short positions on the derivatives.
  • Investment bank Vontobel backs the derivative products.

Nordic Growth Market, a Sweden-based exchange, announced that it has listed Bitcoin and Ether-based mini futures. The derivative products are backed by Vontobel, an investment bank which had also previously launched tracker certificates on Bitcoin, Ether, Ripple and Litecoin.

Deputy chief executive of Nordic Growth Market, Tommy Fransson commented on the listing:  

“It is with great pleasure we list Mini Futures on cryptocurrencies from Vontobel. It has a big interest among investors. This listing further strengthens the crypto products offering at NGM.”

Mini futures contracts, often referred to as e-mini, are quite similar to standard futures contracts, but with a fraction of their value. As the exchange provides both long and short positions, traders can book profits from upward or downward performances of the assets. Additionally, the exchange is offering leverage to the crypto derivatives traders. As a result of the volatile nature of digital currencies, the demand for crypto-backed derivatives has increased steeply. The Swedish company launched the mini futures amid massive demand for crypto derivatives within its user base.

Roger Studer, head of investment banking at Vontobel said:  

“The new Mini Futures on cryptocurrencies will give investors new instruments to trade cryptocurrencies in bullish as well as bearish market environments. They will also enable crypto investors to hedge long crypto positions.

Vontobel underlines its claim to deliver innovative products, liquid market access as well as best services to its customers and confirms its position as one of Sweden’s leading providers of structured products.”