THE DAILY ENCRYPT

October 4, 2022

US Arm of FTX to Launch Options Tradings To Add to Stock Trading Offering

FTX US launched its stock trading service in 50 states. Options trading is now being considered by the firm, which has historically been a major...
Image by The Daily Encrypt

FTX US launched its stock trading service in 50 states. Options trading is now being considered by the firm, which has historically been a major business for rival Robinhood.

FTX USA — the crypto-exchange affiliated with Sam Bankman Fried’s FTX — plans to move into equity options trading after the rollout stock trading across all 50 American States.

According to a Bloomberg News interview, FTX US President Brett Harrison stated that the company would add options but not give a timeline.

Related Articles:  FTX Beats Binance at Voyager Digital's Auction at $1.4 Billion Bid for Assets

Harrison stated that the expansion of the product could be possible during a slowdown across asset trading, which would allow the firm to “capitalize this opportunity” during a bull cycle.

A representative from FTX stated that the launch of options will be subject to regulatory review

Options are financial contracts that allow a buyer to buy an asset at a certain price in the future. They can be used to speculate on an asset or to hedge an underlying position.

Related Articles:  Derivatives Exchange CME Group to Follow FTX.US With Direct Derivatives Trading

Robinhood is a big player in such offerings. It is well-known for its profits from controversial payment for order flow, whereby institutions trading firms pay Robinhood to offload customer orders.

Robinhood brought in $70 million in options payments for order flow at the peak of market. This was compared to $49,000,000 in PFOF trading in non-S&P 500 stocks according to data compiled and analyzed by The Block.

Felipe Rodriguez

Felipe Rodriguez

Felipe states he has super powers, some argue that case but he does come up with some very clear predictions. Felipe is based in the US and frequently travels to Brazil where he was born. He is a journalist of the future and has a portfolio of crypto projects he has worked with. Felipe always says "The future doesn't scare me as much as the past, crypto is here to stay but only time will tell where it will take us".
Felipe Rodriguez

Felipe Rodriguez

Felipe states he has super powers, some argue that case but he does come up with some very clear predictions. Felipe is based in the US and frequently travels to Brazil where he was born. He is a journalist of the future and has a portfolio of crypto projects he has worked with. Felipe always says "The future doesn't scare me as much as the past, crypto is here to stay but only time will tell where it will take us".

© 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.

Latest News
PRESS RELEASES