In the wake of Black Thursday, Huobi Group’s derivatives platform launched a perpetual swaps product it says can help cryptocurrency traders profit from market volatility, and also hedge against it.
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- JP Morgan Chase & Co. CEO Jamie Dimon showing how he'd wring the neck of any one caught trading bitcoin on one of his trading desks. (via Wikipedia).
Must-reads for September 13, 2018: Diamonds, Dimon, schmucks, and a trillion dollars worth of stories
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Morgan Stanley Plans to Offer Bitcoin Swap Trading for Clients (Bloomberg) Morgan Stanley is joining the ranks of institutions by offering swaps to its clients, according to a report by Bloomberg’s Alastair Marsh. A source at the bank told Marsh that a swap product would launch once there’s enough institutional demand and after it gets through internal approvals. For the unfamiliar, a swap would essentially “swap” exposures of one asset with another. Let’s say fund has $1 billion in the S&P 500. They would then enter into an agreement with someone who has $1 billion in Bitcoin to trade returns. Thus if after the first three months the S&P 500…