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Derivative Products Tied to ETH Begin Trading in Goldman Sachs

According to Marex Financial, a London-based company, Goldman Sachs has added a derivatives product to its crypto client offering....
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According to Marex Financial, a London-based company, Goldman Sachs has added a derivatives product to its crypto client offering.

As institutional money flooded the market, the investment bank reopened its crypto operations in 2021. The core of its offerings was derivatives linked to cryptocurrencies such as bitcoin.

Goldman, in the midst of a turbulent backdrop, has launched a derivatives product tied to the price of ether. The possibility of an ETH-linked derivative products was first discussed by Goldman in June 2021.

According to Monday’s statement, this was the first OTC non-deliverable forward (NDF), crypto trade on ether made by Goldman. Marex was the counterparty. Marex Solutions, Marex’s investment and hedging solutions arm, organised the trade.

An NDF (non-derivative product) is a derivative that gives the holder exposure to an asset but not necessarily having to own it. This is a cash-paying product that pays in cash according to the price of ether at settlement.

Vitalik Ivanov

Vitalik Ivanov

Vitalik is a speaker / journalist. He has spoken and given presentations at many blockchain events across the world. Vitalik is based in the UK, he loves to travel and calls Dubai his "crypto home". Vitalik has enjoyed speaking at blockchain events and has a main focus on CBDC's, NFT's and altcoins. Vitalik says "Everything, and i mean everything will be an NFT one day".
Vitalik Ivanov

Vitalik Ivanov

Vitalik is a speaker / journalist. He has spoken and given presentations at many blockchain events across the world. Vitalik is based in the UK, he loves to travel and calls Dubai his "crypto home". Vitalik has enjoyed speaking at blockchain events and has a main focus on CBDC's, NFT's and altcoins. Vitalik says "Everything, and i mean everything will be an NFT one day".

© 2022 The Daily Encrypt. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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