PROVIDENCE, Mahe, Seychelles, March 29 2023– Bitfinex Derivatives is pleased to announce a range of perpetual contracts for five of the largest and most popular European Equities markets; GERMANY 40, SPAIN 35, EUROPE 50, FRANCE 40, and UK 100.
The launch of these equity perpetual contracts will allow Bitfinex customers to trade products that are usually found on traditional financial exchanges, but are subject to restricted trading hours. On Bitfinex Derivatives, they will be available to trade 24-hours a day, seven days a week, subject to certain limitations during periods when the mark price is stale (as further described in the Derivative Product description).
The GERMANY 40** is a market capitalization weighted index that tracks the performance of the 40 largest and most liquid blue-chip companies in Germany. It’s an engineering/manufacturing heavy index that includes high-end vehicle manufacturers, making it sensitive to changes in the business cycle. The GERMANY 40 also is intended to be a strong indicator of market trends in Germany, home to Europe’s largest economy.
The SPAIN 35*** is a market capitalization weighted index that tracks the performance of the 40 largest and most liquid blue-chip companies in Spain. The index is dominated by financial services, telecommunications, and clothing manufacturing.
EUROPE 50**** is a market capitalization weighted index that tracks the performance of 50 Eurozone blue-chip companies that are considered to be industry leaders of their respective fields. Predominantly representing French and German companies, it’s one of the most liquid indices for the Eurozone.
The FRANCE 40***** is a market capitalization weighted index that tracks the performance of the 40 largest and most liquid blue-chip French companies. Although the index is composed of 40 French companies, they are considered to be more multinational than similar companies across Europe because the majority of their business is conducted outside of France. Additionally, the majority of their workforces reside outside of France.
The UK 100****** is a market capitalization weighted index that tracks the performance of the 40 largest and most liquid blue-chip companies in the United Kingdom. It is significantly composed of pharmaceutical and energy/commodity companies. Due to the recent weakness of GBP, the index has gained more traction with international investors as a way to express their bullishness or bearishness on the pound.
These equity index perpetual contracts join Bitfinex’s expanding perpetual trading portfolio of more than 60 crypto perpetuals, its commodities perpetuals which include oil (UKOIL-PERP), platinum (XPT-Perp), palladium (XPD-Perp), Tether Gold (XAUT-Perp), and its FX perpetual contracts on Euro, Yen and Sterling (EUR-Perp, JPY-Perp, and GBP-Perp).
The new contracts will go live on March 29 at 10:30 AM UTC, and will offer users up to 100x leverage, settled in US dollar denominated Tether tokens (USDt).
“We are delighted to add the GERMANY 40, SPAIN 35, EUROPE 50, FRANCE 40 and UK 100 perpetual swaps to our portfolio of derivatives products. These European Equity Indices are strong indicators of how the European economy is performing, and we are proud to give Bitfinex traders the freedom to trade these new contracts at any time of the day and the week,” said Paolo Ardoino, CTO of Bitfinex derivatives .
The equities contracts on Bitfinex work in the same way as other perpetuals on the exchange. All transactions and funding are settled in USDt, and margin collateral will be denominated in USDt. The mark price is determined on the basis of the average of the most recent bid and offer prices from an independent third party information provider and multiplying it by the prevailing USD/USDt exchange rate. Bitfinex Derivatives platform and products are only available in eligible jurisdictions, and are exclusive to verified users.
\* The derivatives platform is provided by iFinex Financial Technologies Limited. References to Bitfinex Derivatives in this press release are references to iFinex Financial Technologies Limited. All deposits, activities, and users are subject at all times to all of the Derivatives Terms of Service in effect on Bitfinex Derivatives. U.S. persons are not permitted to use Bitfinex or any of its services.
Important Notes
This press release is intended for journalists. It is not intended to be broadly disseminated.
This press release is not an offer to sell or the solicitation of an offer to purchase any financial products. iFinex Financial Technologies Limited will only allow access to its derivatives platform pursuant to its derivatives terms of service available (as at the date of this press release) at https://www.bitfinex.com/legal/derivative/terms?refcode=0bC4Lljc
The summary description of the perpetual contract for GERMANY40IX:USTF0, SPAIN35IX:USTF0, EUROPE50IX:USTF0, FRANCE40IX:USTF0, UK100IX:USTF0.
in this press release is provided for convenience purposes only. The perpetual contracts for GERMANY40IX:USTF0, SPAIN35IX:USTF0, EUROPE50IX:USTF0, FRANCE40IX:USTF0, UK100IX:USTF0 are more particularly described in the Derivative Product Descriptions found at https://www.bitfinex.com/legal/derivative/product?refcode=0bC4Lljc. If there are any differences between the description in this press release and the Derivative Product Description, the Derivative Product Description will govern. Please read it carefully to ensure you understand the products available on the derivatives platform. Any summary information regarding the above referenced perpetual contracts in this press release is provided for convenience purposes only and may not be relied upon. Please ensure you conduct your own research regarding these perpetual contracts.
Glossary
**GERMANY40 is intended to track the benchmark index for the German equity market DAX
***SPAIN 35 is intended to track the benchmark index for the Spanish equity market IBEX 35
****EUROPE 50 is intended to track the benchmark index for the European equity market EURO STOXX 50
*****FRANCE 40 is intended to track to the benchmark index for the French equity market CAC 40
******UK 100 is intended to track to the benchmark index for the UK equity market FTSE 100
About Bitfinex Derivatives
Launched in September 2019, iFinex Financial Technologies Limited offers a derivatives platform that is accessible through Bitfinex, a digital token trading platform offering state-of-the-art services for digital currency traders and global liquidity providers. Visit www.bitfinex.com to learn more.
Media contact for Bitfinex Derivatives
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