Brave New Coin (BNC) digital asset data firm has signed a multi-year deal with the Toronto Futures Options Swaps Exchange (tFOSE). In that deal, BNC will power the exchange’s crypto options trading. The New Zealand-based BNC’s data will enable the new Canadian derivatives exchange and clearinghouse to provide cash-settled crypto derivatives to global clients.
This partnership will see Brave New Coin:
“design, calculate, and administer a suite of cryptocurrency indices to power cash-settled options trading on tFOSE.”
2021 Launch For Crypto Options
The President and chief executive of tFOSE, James Beattie, said that BNC was selected after the exchange did thoroughly extensive research into the crypto market data providers. Beattie added:
“Brave New Coin meets all of our needs, taking a unique approach to index design, methodology, and governance that will help tFOSE meet the specific, exacting needs of both our retail and institutional investors.”
The exchange expects its crypto options will start trading in 2021. But, tFOSE is yet to gain approval for the planned contracts.
LTC Index Will Launch First
Both firms expect that the indices will be available for production by the fourth quarter of this year. Official reports indicate that the companies are planning to launch the ‘tFOSE BNC Litecoin Index’ first. Brave New Coin (BNC) currently offers data and index services to NASDAQ, Amazon Alexa, Dow Jones Factiva, and many others.