Tassat and Blockfills Partner to Launch Bitcoin Trade-at-Settlement Product
Fintech provider Tassat cooporates with digital asset market maker Blockfills to release a new product for cryptocurrency traders to hedge risks.
As reported by Hedgeweek, Tassat and Blockfills partner to release an institutional Trade at Settlement (TAS) product for spot Bitcoin (XBT/USD) by mid-December.
TAS is a particular sort of electronic order book, providing buyers & sellers the possibility to trade at or close to a settlement price set up during a discrete fixing time.
This model is developed to decrease confusion & remove slipping in implementation through setting a fixed price for participants to trade around. It is broadly used in derivatives markets for a variety of underlying assets.
Director of Sales of the New York-based Tassat Josh Gibson notes: “TAS provides a way to offset the risk of price movements on their futures positions and/or rebalance the gamma on option positions with no risk of excessive slippage.” He added: “With the growth of digital asset derivatives, participants of all kinds will need new & efficient ways to hedge their positions.”
Director of Sales & OTC Trading of Blockfills Neil Van Huis mentioned that they have an intention to develop an international digital asset trading & “prime brokerage solution” to contribute to the fuel innovation & institutional adoption of digital assets. He said: “This new TAS product will complement our existing offering of digital asset products & we look forward to leveraging on our already well- established partnership with Tassat.”