Nasdaq to Partner with VanEck Investment Company to Launch “Crypto-Futures 2.0”

The world’s second largest equity market has partnered with investment firm VanEck to offer new financial crypto-products.

The partnership was officially announced during the Consensus: Invest conference organized by CoinDesk on Tuesday.

This is Gabor Gurbacs, the Director of Digital Asset Strategy for VanEck, who announced this initiative to “propose a crypto-futures contract 2.0 regulated”.

According to the leader, this financial product, which should be launched in early 2019, will be the first of a long list.

“What I want to emphasize is that we went further by working with the Commodity Futures Trading Commission (CFTC) to set new standards in terms of custody and control,” he said during the meeting. conference.

Mr. Gurbacs then told CoinDesk that these investment products should “improve” the regulatory standards that currently surround Bitcoin futures.

Based on the supervision system of the Nasdaq stock markets, called SMARTS, but also on the indices established by the company MVIS, owned by VanEck, the objective is, for Mr. Gurbacs, to “inspire confidence in the regulators and institutions to get involved [in crypto-markets] “.

SMARTS is a software program that includes several hundred detection algorithms designed to automatically detect suspicious trading activities, such as spoofing or wash trading. Described as a “big police machine” by Mr. Gurbacs, this technology should allow, according to him, futures trading to take place in a “fair and orderly” way.

2019, “the year of realization”

So far, the CFTC has cleared two Bitcoin futures – one proposed by the Chicago Board Options Exchange (CBOE), in partnership with Gemini, and the other by the Chicago Mercantile Exchange. (CME), which has partnered with Crypto Facilities.

These futures contracts are liquidated – in other words, when they expire, they do not give rise to “real” Bitcoin transfers. Conversely, the financial product that should be proposed next January by the startup Bakkt should be liquidated in kind: investors who buy these contracts may potentially receive, at expiration, payments in BTC.

Mr.Gurbacs did not disclose whether the futures contracts offered by Nasdaq and the VanEck subsidiary would be liquidated in cash or in kind. He believes that these should be launched in the first quarter of next year.

“We believe that 2018 was the year of regulation, and that 2019 will be the year of realization,” he added.

At the same time, we will know in a few weeks if the ETF on Bitcoin proposed by VanEck, in partnership with blockchain company SolidX, will be approved. This should be the subject, on February 27, 2019, of a final decision by the Securities and Exchange Commission (SEC), the constable of the American stock market.

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