{"id":50196,"date":"2021-09-27T10:38:02","date_gmt":"2021-09-27T07:38:02","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=50196"},"modified":"2025-09-02T16:42:47","modified_gmt":"2025-09-02T13:42:47","slug":"genesis-global-capital-conducted-the-first-otc-block-trade-in-bitcoin-futures","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/genesis-global-capital-conducted-the-first-otc-block-trade-in-bitcoin-futures\/","title":{"rendered":"Genesis Global Capital Conducted the First OTC Block Trade in Bitcoin Futures"},"content":{"rendered":"<p>The institutional-investor-focused Genesis Global Capital and market maker on the futures market Akuna Capital <a href=\\\"https:\/\/www.businesswire.com\/news\/home\/20210926005057\/en\/Genesis-Executes-the-First-OTC-Trade-of-an-Innovative-New-Bitcoin-Futures-Product-with-Akuna-Capital\\\">carried out<\/a> the first OTC trade of a large block of <span data-descr=\\\"Chicago Mercantile Exchange\\\" class=\\\"old_tooltip\\\">CME<\/span> Bitcoin futures on the <a href=\\\"https:\/\/www.cmegroup.com\/education\/courses\/trading-at-a-basis-to-an-index-btic-taco\/understanding-basis-trade-at-index-close-btic.html\\\">BTIC<\/a> basis.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>BTIC (Basis Trade at Index Close) entails an agreement between a buyer and seller of futures contracts on the spread or basis added to the day\\&#8217;s index closing price to determine the futures price. The instrument is used for derivatives on stock indices.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>The basis is agreed prior to the trade and depends on the overall financing rate, dividends [in the case of equities] and the time remaining until contract expiry. The value can be either negative or positive.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p><em>\\&#8221;We are introducing BTIC for our cryptocurrency futures for the first time. Such trades provide real-time price discovery on a regulated market for institutional participants who want to optimize positions between futures and the spot markets\\&#8221;<\/em>, said Tim McCourt, CME Group\\&#8217;s Head of Equity Index and Alternative Investment Products.<\/p>\n<\/blockquote>\n<p>\\n\\n\\n\\n<\/p>\n<p>Genesis said that BTIC addresses the hedging needs of counterparties that use the Bitcoin Reference Rate as a <span data-descr=\\\"benchmark used to compare investment portfolio performance\\\" class=\\\"old_tooltip\\\">benchmark<\/span>.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>Earlier in May, CME Group<a href=\"https:\/\/forklog.com\/en\/news\/cme-group-launches-micro-bitcoin-futures-trading\"> launched trading<\/a> micro Bitcoin futures.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p> Subscribe to ForkLog news on <a href=\\\"https:\/\/www.facebook.com\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">Facebook<\/a>! <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Genesis Global Capital, an institutional-investor-focused service, and market maker Akuna Capital conducted the first OTC trade of a large block of CME Bitcoin futures on a BTIC basis.<\/p>\n","protected":false},"author":1,"featured_media":50197,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[383,1168,1380,1156],"class_list":["post-50196","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cme-group","tag-crypto-derivatives","tag-genesis-global-capital","tag-institutional-investors-and-whales"],"aioseo_notices":[],"amp_enabled":true,"views":"12","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/50196","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=50196"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/50196\/revisions"}],"predecessor-version":[{"id":50198,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/50196\/revisions\/50198"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/50197"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=50196"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=50196"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=50196"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}