Trading volumes of bitcoin derivatives in Asian sessions are almost identical to those in the US, which is significantly different from the picture that can be observed with other financial instruments. This feature was noted by the founder of the well-known trading company DRW Don Wilson, writes CoinDesk.
In a conversation with the financial analyst of the Quartz publication at the launching conference of Consensus Singapore 2018, John Wilson shared his observations on the trends of crypto currency trading, as well as the opinion on the future of the technology.
When the conversation touched the issue of bitcoin futures on US stock exchanges offered by CME and CBOE, Wilson noted that there is a demand for similar financial instruments in Asia.
“If you look at the data on bitcoin futures from CME and CBOE, volumes in Asian sessions are almost the same as in the US. At the same time, for transactions with foreign currencies, even in a yen-dollar pair, volumes in Asia are much lower.” – he said.
DRW was one of the first financial organizations to turn to crypto-currency trading. In 2014, it launched the specialized off-board platform Cumberland, and as the Wall Street Journal wrote last year, since 2016 the trading volumes of Bitcoin, Ethereum and other crypto-currencyes have exceeded $ 20 billion.
Explaining the decision to launch a crypto-currency OTC platform, Wilson said that the idea was born from the belief in the quality of a crypto-currency, like decentralization.
“Bitcoin is often called a way of preserving values. But more interesting to me seems utility of bitcoin. The ability to move values without having to trust the system is really a breakthrough idea.” – the entrepreneur said.
At the same time, he believes that a lack of solutions for safe storage can become one of the key obstacles to wider adoption of crypto-currency trading.
Also, Don Wilson commented yesterday’s report from the Attorney General of New York, in which the regulator says that exchanges can be vulnerable to price manipulation, and also likely violate state laws. Agreeing on many points with the representatives of the department, he, however, noted that one of the biggest problems is the lack of clarity on the part of regulators.
“Such uncertainty can deter innovation projects and force them to move to other jurisdictions with clearer rules, for example, in Switzerland or Singapore.”
– Wilson said.