A Bitcoin futures contract index is now available for institutional trading on Argentina’s Matba-Rofex market.
This new asset class, as of now, is not accessible to retail investors. Initially, it is reserved for institutional entities like investment funds and corporations.
The contracts, quoted and settled in Argentine pesos, reference an index established by Matba-Rofex using local cryptocurrency rates.
Futures contracts are agreements for buying or selling an asset at a fixed price on a predetermined date.
Each futures contract on Matba Rofex equals 0.1 BTC, with a set multiplier that accounts for the asset’s value.
In case of rapid price changes, the contract’s notional size may be adjusted. Contracts also adhere to an open position limit, around 40% of Bitcoin’s value.
Circa manages this limit, the central counterparty of the futures market, and changes with the product’s volatility.
This development follows two months after the National Securities Commission approved Bitcoin futures trading, paving the way for the asset’s debut on Matba-Rofex.