Leading digital asset derivatives exchange, BitMEX, has launched the BitMEX ALTMEX, and DEFIMEX indices. The two basket indices, which track the top ten assets in the Altcoin, and Defi markets, were accompanied by matching derivatives contracts.
BitMEX, the Seychelles headquartered cryptocurrency derivatives exchange on Tuesday, the 20th of July, announced the launch of two new digital asset derived indices. The BitMEX ALTMEX (BALTMEX) basket index, and the BitMEX DEFIMEX (BDEFIMEX) basket index track the top 10 tokens in either market (Defi, and Altcoins).
BitMEX has also made the indices traceable through newly minted, BALTMEX, and DEFIMEX derivatives contracts. These are the first indices, of this kind, to be made available to traders 24/7/365 – in line with crypto market trading times.
“The establishment of these basket indices is an unmistakable sign of the continued evolution of crypto as an asset class,” stated Alex Höptner, CEO of 100x Group, of which BitMEX is a subsidiary “The cryptocurrency market demands an advanced, secure, and highly liquid trading platform like ours on which to trade. The BitMEX ALTMEXUSD and DEFIMEXUSD derivatives products are the first in the industry to be available on a 24/7 crypto derivatives platform with a fully verified user base, which will appeal to traders in an environment where compliance and security are increasingly top-of-mind.”
The exchange touts the launch as a milestone for digital asset-based indices (which went live at 04:00 UTC, earlier in the day,) as crypto traders have previously been unable to access such instruments on a 24/7 basis. Above that, the indices are made available with BitMEX’s performance guarantee of no platform latency or downtime.